Sir can I get this option on computation of income page while filling
written?
On 14 August 2019 4:17:33 pm Niranjanraj Urs <niranjanu...@gmail.com> wrote:
Dear Friends,
Shri sharavanan is absolutely right. In fact after discussing with
him, I have gone through the matter and the position has become
clearer. Standard deduction for F/Y 2018-19 of Rs 40000
is claimed under S.16 of IT Act 1961. Additionally, disabled persons
can claim exemption at the rate of Rs 3200 per month under Section
10(14) read with Rule 2bb -see sub rule 2 of the said rule exactly sl.
no 11 in the explanotory table under said sub rule 2.
Thank you Shri sharavanan for motivating me to do this exercise.
Dr.B.Niranjan Raj Urs
Mob: 8281627415
On 8/12/19, Saravanan <sarva...@greytip.com> wrote:
Hi Friends,
Conveyance allowance is also called transport allowance.
It is entitled for a maximum of Rs. 3,200/- per month.
This tax exemption is coming under section 10 (14).
This allowance should take part in your salary slip.
It will also reflect in form 16 under section 10 details.
This exemption is only applicable for disabled employees.
This is nowhere related to standard deduction.
Standard deduction is 40K for financial year 2018-19.
It is increased to 50K for financial year 2019-20.
Don't try to confuse yourself.
I think you will be clear right now.
For further clarification keep in touch with me.
Cheers
Saravanan.K
+91 9916512402
On 8/12/2019 11:32 AM, Niranjanraj Urs wrote:
As for as my understanding goes, the standard deduction allowed for
FY 2018-19 of Rs 40000 covers thr transport allowance and medical
reimbursement upto Rs 15000. The SD for FY 2019-20 is enhanced to Rs
50000. This SD covers transport allowance for all persons including VI
persons, the only difference being that transport allowance is double
for VI persons than the one allowed to normal persons. Hence claim Rs
40000 for FY 2018-19 and Rs 50000 for coming FY 2019-20.
NiranjanB
On 8/8/19, Meesha Arora <meesha2...@gmail.com> wrote:
Hello members,
Please can you confirm if the tax exemption conveyance allowance of INR
3200/- per month is applicable in last and current financial year?
I would really appreciate if you can help me with a URL which confirm
this
information and thus I can forward it to my employer.
I have only claimed exemption under section 80 U so far and just learnt
that we are entitled to a further exemption of INR 38, 400 annually but
couldn’t be clear on it.
It happens that my form 16 for last financial year doesn’t include this
exemption so can I claim the refund on my tax paid while filling my ITR?
Thanks to confirm.
Meesha
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