Which allowances are exempted for employees ?

Tax planning 758 views 2 replies

Dear Sir,

Which allowances are exempted for Pvt.Ltd organization employees, which do i need to collect any doucments ?

 

Replies (2)

I have got it.

 

The following components are not taxable.
1. Medical allowance - Rs.15000/ - p.a. (need to produce bills for tax exemption)
2. Conveyance allaowance - Rs.9600/-p.a. (no proof required)
3.HRA - 50% of basic for metros & 40% of basic for non-metros (rent receipt to be produced for tax exemption)
4. Food coupons - Rs.1350/- p.m.
5. Children Edu. allowance - Rs.2400/- p.a. (for 2 children only)
6. Children Hostel Allowance - Rs.300/- p.m for each child (max 2 children)

Someone please confirm the figurs.


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