Web5 hours ago · In addition, family pensioners opting for the new tax regime can claim a standard deduction of Rs 15,000 from their pension income. Soni highlighted that the rebate under section 87A has been hiked to Rs 7 lakh from Rs 5 lakh under the new tax regime. The rebate benefit will be up to Rs 25,000, provided income doesn't exceed the limit of 7 … WebJun 28, 2024 · Sujit Talukder Sunday, June 28, 2024. CBDT issues Notification to Allow Exemptions for Section 115BAC: CBDT has issued Notification No. 38/2024 dated 26.06.2024 under section 115BAC (2) of the Income Tax Act, 1961 to allow certain exemptions under section 14 and to disallow certain exemptions from the valuation of …
Tax Exemptions Under Section 10 of Income Tax Act - ABC of …
WebJan 24, 2024 · As per Section 10(13A) of the Income Tax Act, the employee can claim exemption on the HRA received to the extent of whichever is least among the following: ... Food Coupons/ Meal Allowance. ... The amount exempt under income tax depends on the location and other factors. The exemption varies from Rs. 300 per month to Rs. 7000 … WebMar 19, 2024 · Such food coupons are taxable as perquisite in the hands of the employee. ... such meal coupons are tax-exempt up to Rs 50 per meal. Consequently, the yearly exemption works up to Rs 26,400. Relocation allowance ... Some of such investments … One such exemption available to the salaried class under the law and widely … fileinputstream try
Allowances and deductions available to a salaried person …
WebJan 26, 2012 · For a meal voucher to be tax exempt to the extent of Rs. 50 per meal, the meal voucher should be used only during working hours. If an employee consumes two meals a day using meal vouchers in a working … Web97 rows · Free food and beverages provided to the employee. 1) Fully Taxable: Free … WebJul 31, 2024 · The tax benefit is available to the person only for the period in which the rented house is occupied. Also read: HRA Exemption Rules: How to save tax on House … fileinputstream relative path file