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Important Allowances and their Questions - Taxability of Allowances

Q1

What is Income from Salaries if employee receives  
Particulars Amt Recd pm Amt spent as per bills during year
Basic Salary 30000  
Uniform Allowance 5000 40000
Academic and Research Allowance 2000 16000
Travelling Allowances 3000 37000
Helper Allowances 5000 0
Daily Allowance 2000 No Bills but Declaration given to Company of amt spent
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Q2

What is Income from Salaries if employee receives  
Particulars Amt Recd pm  
Basic Salary 40000  
Children Education Allowance 1500 (500 pm*3 childen)
Children Hostel Allowance 6000 2000 pm * 3 children
Transport Allowance 2000 (He does not submit bills)
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Q3

Suppose in Q2 Employee receives HRA of 8000 PM  

He works in Delhi and lives in Noida where he pays rent of 10000 p.m. 

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  1. Income Tax
  2. Income from Salaries
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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 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
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