Allowance – We have to remember amount exempt .


Perquisites − Normally we have to remember amount taxable . However for some perquisites amount exempt is mentioned.


  Taxability of Allowances and Perquisites - Basic Concepts

Lets study Allowances first in detail

  1. Income Tax
  2. Income from Salaries
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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 7 years. He provides courses for Mathematics and Science from Class 6 to 12. You can learn personally from here