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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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides GST Training in Delhi. Register now.