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

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 9 years. He also provides Accounts Tax GST Training in Delhi and Pune.