Income exempt from tax under section 10 ppt

income exempt from tax under section 10 ppt

Salary Last drawn salary including DA but excluding any bonus, commission, HRA, overtime and any other allowance, benefits or perquisite.
In such a case, the allowances exempt omsi bus simulator 1.01 crack under Section 10 (14 ii) would be lower.
Exempt Amount : Least of folder protect for windows 7 the following is exempt from tax: (i) 50 of salary* for metro cities* and 40 of salary for other cities (ii) Actual HRA received (iii) Excess of rent paid over 10 of salary* * Salary Aggregate of basic salary,.The above 2 categories of allowances exempt under Section 10 have been explained below.Any kind of scholarship granted to meet the cost of education is exempt from tax under Section 10(16).The provisions of Section 10, relating to the exemption of house rent allowance, childrens education allowance, DA, TA, conveyance allowance, have been described in the chapter dealing with salary income and hence have not been repeated in this chapter.1000 pm as transport allowance for commuting between the place of residence and the place of duty and the actual amount spent.Sumptuary Allowance given to High Court and Supreme Court Judge Allowance received by an employee of UNO from his employer.300 pm per child up to a max of 2 children vii Compensatory field area allowance available in various areas of AP, Manipur, Sikkim, Nagaland, HP, UP J.Similarly, the incomes of newly established 100 export oriented undertakings, the industries set up in Free Trade Zones (only 90 exemption of income for AY industries in NorthEastern Region, etc., are fully exempt from income tax.For eg: An employee receives.Allowance, various Amounts ranging from.This is as per the Finance Act 2008.e.f.Is being subjected to tax if the same is not received from relative, etc.(L) life insurance moneys Under Section 10(1 OD any sum received under a Life Insurance Policy (LIP including the sum allocated by way of bonus on such policy, other than u/s 8odda or under a Keyman Insurance Policy, or under an insurance policy issued.The entire amount of any payment in commutation of pension by a government servant or any payment in commutation of pension from LIC pension fund is exempt from income tax under Section 10(1 OA) of IT Act.
Amount received, amount actually spent for the performance of duty.
The following allowances are covered under this category.