I am pasting the relevant para of the notification of central govt revenue
deptt regarding the calculation of incometax for FY 2013-14. hope this will
help. for clerification you can contact them directly as I don't know enough
about the income tax rules.
CIRCULAR NO : 08 /2013
F.No. 275/192/2013-IT(B)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
.....
New Delhi, dated the 10th October, 2013
SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR
2013-14 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961.
.....
5.3.10 Section 10(14) provides for exemption of the following allowances
:-
(i) Any special allowance or benefit granted to an employee to
meet the expenses wholly, necessarily and exclusively incurred in the
performance of his duties as prescribed under Rule 2BB subject to the
extent to which such expenses are actually incurred for that purpose.
(ii) Any allowance granted to an employee either to meet his
personal expenses at the place of his posting or at the place he
ordinarily resides or to compensate him for the increased cost of
living, which may be prescribed and to the extent as may be prescribed.
However, the allowance referred to in (ii) above should not be in the nature
of a personal allowance granted to the assessee to remunerate or compensate
him for performing duties of a special nature relating to his office
or employment unless such allowance is related to his place of posting or
residence.
The CBDT has prescribed guidelines for the purpose of Section 10(14) (i) &
10 (14) (ii) vide notification No.SO 617(E) dated 7th July, 1995
(F.No.142/9/95-TPL)which has been amended vide notification SO No.403(E)
dt 24.4.2000 (F.No.142/34/99-TPL). The transport allowance granted to an
employee to meet his expenditure for the purpose of commuting between the
place of his residence and the place of duty is exempt to the extent of
Rs.800 p. m. or Rs1600 p.m (for a blind person) vide notification S.O.No.
395(E) dated 13.5.98.~
----- Original Message -----
From: "P. Subramani" <[email protected]>
To: "AccessIndia disabled." <[email protected]>
Sent: Saturday, July 19, 2014 12:19 PM
Subject: [AI] Trans Allowance Circular!
I need the circular indicating the exemption of transport allowance for the
purpose of calculation of Income tax. Anyone having the said circular may
kindly send it to me. Thanks and regards, P. Subramani
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