Allowances Which are Fully Exempt? | Allowances in income tax | Fully Taxable Allowances | Allowance
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- Опубліковано 28 сер 2024
- In this video, we explained the Allowance which are fully exempt and allowances which are fully taxable. Basically all kind of fully exempt allowances are part and parcel of salary structure of an employee.
There are various kind of allowances some of them are fully exempt allowance and some of them are not. Few allowances like Transport allowance, Daily Allowance, Conveyance Allowance are exempt even in New Tax Regime.
Few allowances are of such kind which are Fully Exempt for Diplomats, High Court Judges and Supreme Court Judges as well.
Allowances Which are Fully Exempt? | Allowances in income tax | Fully Taxable Allowances | Allowance
Various Income Tax Act Sections Explained Like 10 (14), 10 (7) etc.
In this video we will know how to save Income tax on Allowances Income. Various type of tax planning on Salary #Allowances Income. Income Tax Section. This is a perfect recipe for tax planning regarding Salary Income and save Tax on Salary Income.
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In this video we explained:
1. Allowances Which are Fully Taxable
2. Allowances Which are fully exempt
3. Fully Exempt Allowances
4. Salary Allowances
5. allowances in income tax
6. Which are exempted allowances?
7. Allowances par kaise Income tax lagta hai?
8. Section 10 (7) of Income Tax Act 1961
9. Section 10 (14) of Income Tax Act 1961
10. How to save tax on Allowances Income?
11. Tax Planning on Allowances Income
12. Explain taxable Allowances
13. Explain Exempt Allowances
14. How to save Tax?
15. Income Tax Planning
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Thanks for watching!
Feel free to ask any questions in comments section. I will surely reply. 👊
Dear sir, Srinagar me Milne Wale risk allowance par kitna exemption mil skta hai? Please reply
Thank you Sir for this valuable information.
Sir, Residential Allowance ke bare me btaeye jo hame Navodaya school employees ko milta h
Very nice sir g
I took driver remibeursment lumsum in march 2023 , should thia be visible in form 16 and exempt from tax?
Very helpful great effort sir
Always welcome
What about allowance given to work in hilly remote areas..... It is also tax free in old regime
watch this video
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I have 2 questions
1. my father receives Conveyance allowance and mobile and internet allowance. Both are exempt?
2. Also house perquisites is taxable or not?
1. Conveyance allowance is fully exempt subject to actual conveyance expenditure is higher than conveyance allowance.
2. Telephone or internet allowance is fully taxable
3. House perquisite is partial taxable, some time it's fully taxable.
@@incometaxwallah My father is a private sector employee with no kind of disability. Still conveyance allowance will be fully exempt?
Also many website showing mobile or internet allowance is tax free!
Where to show our book allowance in exempt income....
To the point video 😃
Thanks
Video is good. However, you have not mentioned several other exemptions like PO Saving bank interest u/s 10(15)(I) etc.
Verma ji,
actually this videos is only for allowances which are fully taxable and allowances which are exempt.
but interest exemption on capital bonds, post office deposits etc are separate topic. soon you will find that too.
till that watch this video. i hope you find it useful
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@@incometaxwallah Thank You very much for your prompt reply. Kindly educate us also on how to take advantage of these exemptions while filing ITR.
@@rkverma1317 sure, subscribe our channel for updates
Please clarify🙏How to mention the food card allowance during ITR filing? Will form 16 reflect this amount? Thank you.
No need to mention in Itr Separately.
It must be included in form 16 already
Sir sodexo food coupons allowance comes under 10(14)(i) and conveyance allowance comes under 10(14)(ii) right? Can i claim both?
Thanks sir for the clarifications, i have 1 query left
If employer provide supplimentry allowance and in description of supplimentory allowance mention that it includes convence allowance, transport allowance, canteen allowance etc, however breakup not mentioned
Then can we take deduction of convence allowance and uniform allowance?
Description of supplimentary allowance mentiones only convence allowance and etc "not specifically mentioned uniform allowance"
you can't claim coveyance allowance, uniform allowance etc exemption in case of supplimentory allowance
@@incometaxwallah thanks sir for clarification
Sir why gov tax allowance it is not a basic salary ???
Sir, I am a sales manager in a company and travel 15 to 20 days every month to perform office duties.
The amount INR 30000 as salary is credited on the 7th of every month.
I submit bills for expenses like hotel, bus, train, food, etc then the company transfers that amount to my bank account on random dates.
My question is where can I show this amount in ITR form?
a. Salary as per section 17(1) b. Value of perquisites as per section 17(2) c. Profit in lieu of salary as per section 17(3)
Kindly give your suggestions.
No need to show those boarding lodging related reimbursements in ITR.
THESE ARE REIMBURSEMENTS AND NOT PERQUISITES U/S 17 (1) OR (2)
Are they allowance taxable or fully/ partially exempt (Hydel , local traveling , mobiles, )? Kindly guide .
all are fully taxable , how ever, local travelling allowance may in nature of conveyance allowance where exemption allowed
But sir I have a query
I have gone through the income tax article and found that allowances mentioned at sr. No. 3 (Reimbursement of Expenditure on vehicle repair and maintenance) and 5 (self development allowance) are taxable.
Further the Entertainment allowance comes under section 16(ii).
Sir please correct me if I am wrong.
Closing allowances, Learning allowances and Location allowances are these taxable or non taxable, if no taxable please guide me, in which can i get relief for these allowances. Please guide me.
Gas Allowance and fuel allowance ko kon se section me show Karu aur kiya ispe tax rebate mil payega
its cover under perquisite under section 17 (i) and it is partly taxable . but to give exect answer of your question i need few more information like
what is cc of car used
who owned that car
New tex me Nursing officer ko milne vala hard duty allowance or washing allowance ka exemption konse section me milega?
washing allowance tax free h u/s 10 (14)ii
hardship allowance fully taxable hai
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Nice
Sir, Book and Journals, Personal Allowance, Professional Allowance and Remote Working Allowances are which category of allowances?
remote area allowance is partly taxable,
rest all allowances are fully taxable
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Sir good evening
Sir please tell about the following allowances w.r.t the tax exemption:
1. Newspaper/Professional literature Reimbursement
2. Washing Allowance
3. Reimbursement of Expenditure on vehicle repair and maintenance
4. House Upkeep Allowance
5. Self Development Allowance
6. Canteen Allowance/Meal Voucher
7. Electricity Reimbursement
8. Professional Updation allowance
9. Entertainment allowance
10. Conveyance/Transport allowance
Sir kya inme tax exemption le sakte he kya and uf yes than in which section of Income tax. Please Guide sir
tax free (Section 10(14)(i)
Newspaper/Professional literature Reimbursement
2. Washing Allowance
3. Reimbursement of Expenditure on vehicle repair and maintenance
4. House Upkeep Allowance
5. Self Development Allowance
8. Professional Updation allowance
10. Conveyance/Transport allowance
Tax Free perquisite (Section 17(2)
Meal Voucher 50 rs per meal
Electricity Reimbursement
fully / partly taxable (Section 10(14)(ii)
6. Canteen Allowance
9. Entertainment allowance
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Thank you sir
But sir I have a query
I have gone through the income tax article and found that allowances mentioned at sr. No. 3 (vehicle maintenance) and 5 (self development) are taxable.
Further the Entertainment allowance comes under section 16(ii).
Sir please correct me if I am wrong.
Sir, I have a doubt, kindly clarify.
I am retired from government job in July 23. Till July I received HRA for four months ie up to July 23 Rs 107000/-. After retirement I am living in a rented accommodation and paying Rs 23000/- per month. Since pension has no HRA component, how much HRA I can exempt from my ITR for FY 23-24.
HRA benefits is available only till you receive house rent allowance i.e upto july 2023
you can calculate hra exemption through following link of our website:
letsmakecompany.com/hra-calculator.php
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An employee who is receiving conveyance allowance as part of salary. Is this fully taxable or exempted in the hands of employee?
See, under section 10(14)(i) conveyance allowance is fully exempt but subject to that conveyance allowance you guys received is fully spent.
to avoid any undesired situation, take benefit of conveyance allowance exemption from your office through form 16. overall it is fully exempt.
Sir transfer k time center govt employee ko jo ghr ka saman idhar udhar le jane Or basic ka 80℅ milta hai wo kya exempted hai travelling allowance mein
Yes 100% exempted
@@incometaxwallah under sec 10 14 i?
Is risk and hardship allowance taxable or not if not in which section i can claim?
10(14)(i)
@@incometaxwallah this is as per new tax regime or old tax regime
please reply
Sir in my form 16 they mentioned personal allownce ..is it tax exempt..?
personal allowance is fully taxable
whats about house rent allowance and leave travel allownace, transpoprt allownace??
house rent allowance - partly taxable
LTA - exempt upto actual travelling fare
transport allowance - 3200 pm for exceptionally abled person
@@incometaxwallah sir uniform allowance , transport allowance, daily allowance , are not mentioned in my form 16 then can i claim these allowance
In which column and part of itr I can claim exemption on LTC received from employers?
Generally LTC claimed in form 16. So please chk.
Then no need to reflect in itr 1
I have telephone reimbursement mentioned in my salary structure with a limit of up to ₹32,000. I have bills for an amount of approximately ₹15,000. Under which section can I claim it on the income tax portal? Kindly guide.
Please reply @incometaxwallah
telephone reimbusement is a part of CTC and called salary perquisite and all perquisites covered u/s 17 (2)
all reimbursement is tax free
Sir, Can we take deduction apart from what you described in your video
No,
Risk allowance konse sec me show kr skte h jese j&k ka allounce hain
We made this video dedicated to INDIAN ARMY
Watch this Video for Risk Allowances and various kind of other TAx free Salary allowances to be given to Army Persons
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Share this video to other army persons to save their taxes
Sir Electricity allowance taxable or non taxable?
fully taxable
Sir Fauji ko Milne Wala Transport allowance fully exempt allowance category me aate hai ki nahi please reply
Its fully taxable
sir, Risk is hardship allowance is taxable or not? if partially taxable, then at what rate?
There is no such allowance. But still any employer paying , it's fully taxable
Sir,
Rajasthan me govt doctors ko Non Practicing allowance Diya jaata hai.
Kya ye taxable hai ya nhi. Pls bataye🙏
It's a taxable allowance. As in income tax law there is no exemption for any of such kind of allowance
@@incometaxwallah thx a lot for clear n fast reply 🙏
For Govt employees Night duty allowance are exempt or not?
Yes, its fully taxable
@@incometaxwallah Thankyou sir
Sir, i am a government employee.
I get 700 per month for motorcycle allowance. Is it taxable or exempted?
Taxable
Dear sir, risk allowance, uniform allowance and children education allowance ki exemption mil sakti hai?
yes
@@incometaxwallah sir risk allowance ka pm ke hisab Kitna exemption le saktye hai or kon sec. Me bhara jata hai
Sir, Can a physically challenged government employee's transport allowance be fully exempted? if yes, then in which tax regime it is applicable for next financial year?
Transport Allowance exemptions as per under rules
Actual Allowance
INR 3200 p.m.
Which ever is less
(for physically challenged person it is allow in new regime Also vide notification 38/2020 dated 26/06/2020)
@@incometaxwallah I am working in PSU Airport authority of india, in form 16 only HRA, washing allowance, HRD allowance and Child education allowance are exempted from tax by Employer... What about travelling allowance and canteen allowance.. Please guide me..
Sir, convence allowance is included in my salary, can i claim it without having any evidences?
its always better to claim conveyance allowance exemption through office. Although you can claim, but there must be some proof of expenses
@@incometaxwallah sir my conveyance allowance is not included in form 16/ salary total, am a government employee what should I do
The Standard Deduction of Rs 50,000 already includesTransportation allowance and medical expenditure, isnt it? Then can I still claim additional travel related expense through Section 10(14)(i)?
Standard deduction and travelling allowance, both are different.
You can claim both
@@incometaxwallah traveling allowance, uniform allowance, Daily allowance is not mentioned in my form 16. Then can i claim it??
Sir namaste iam working as central government employee with orthopedic Disabled iam eligible for transport Allowance Expections
SAF Allowance & Enhanced Site Compensatory Allowance mentioned in Payslip, Can i claim it under 10(14) ?
Both are fully taxable
if Leave travel allowance is a component of salary slip ,will it be exempted or not?
if you spend on travelling in lieu of leave travel allowance than is exempt upto ticket price.
few more conditions are there.
Sir I have query does HRA and medical reimbursement in counted in family income because I have make EWS certificate and I heard in family income and not the reimbursement allowances
Hra is a income. And medical reimbursement is not considered as income
Sir iam handicapped central government employee i Exemption from Transport Allowance
Sir, what is supplimentry allowance
Supplimentry allowance is fully taxable . its like a special allowance
Sir
Transport allowance is not deduting in new tax regime under sec. 10
Transport allowance exemption is not available in new tax regime.
My HR suggested me to give gym bills up to 30,000 rs annual, there is no tax on this. Please suggest me the process?
Gym expenses allowed for fitness
Sir.meri ma jo 9oyrs ki hai freedom fighter pensioner hai.unhe 80 D ke antergat medicine par nagad thatch ki rashi ktauti ke liye anumanya hai ya nahi.kya.kishi naya dhara ke antergat kripya batayen. Dhanyabad.
मान्यवर ,
नकद खर्चा किसी भी धारा मै मान्य नही हैं
In my salary slip around 20% is composite allowance how i can take benefit ?
It's fully taxable
I get Vehicle maintenance Allowance. Is it exempt upto 1800₹ per month ?
No exemption
Learning Allowance given to officers in banks. Kindly guide regarding the same, can I take exemption for the same. If exemption available please provide section.
It's cover under academic allowance u/s 10(14) (I)
Its exempt up to actual expenditure incurred out of this learning allowance
@@incometaxwallah thank you sir
Sir kay transfer TA DA claim kar sakte hai
Transfer TA tax free. DA fully taxable
capf me ration money allwonce milta hai oph tax exmpt hai yea nahi
hai to kon sa sec me ata hai
pls infom sir
fully exempt hain section 01(14)(i)
01(14)(i) correction 10(14)(i)
Sir please reply
Composite transport grant In Rly is taxable or exempt ex
railways allowances ke liye abhi working chal rahi h. wait kijiye
see. transport allowance to shift from one city to another - fully exempt
transport allowance to perfom duty - fully taxable
composit transport grant allowance in our view fully tax free
@@incometaxwallah sir am a railway employee , in my form 16 uniform allowance, telephone allowance, daily allowance are not mentioned then can i claim those allowance
If these deductions are not given by employer, can i claim in ITR with bills?
you can claim but such claim are not recommended as it is income tax notice prone
@incometaxwallah Than , we can submit bills na.
@@incometaxwallah even extra hra if we claim, we can show receipts, bills
You can claim, but chances of clarification or tax notice are there
Transportation allowance is taxable or not ...
Partly taxable
Sir!! Is north east allowance payable to bankers seeving in north east India , tax exempted?
its partially tax exempted i.e 800 rs. per month
@@incometaxwallah thank you sir!!
How can I get the uniform allowances in tax?
If uniform allowance is in your ctc of salary. Than only you can get it
Himachal Pradesh me government employees ko Rs.200 per month Compensatory Allowance milta hai, 2400 per year. Sir, kya new tax regime me AY 2024-25 ke liye ye deduction milegi?
Deduction not available in New TAx Regime
Sir, आप ही ने तो वीडियो में बताया कि कुछ allowances पर डिडक्शन मिलेगी under section 10 eg Conveyance Allowance. Compensatory allowance Conveyance Allowance hi hota hai shayad. Please bataayen sir.
@@Narender98052 compensatory allowance is city compensatory allowance hota hain.
conveyance allowance nahi hotaa
@@incometaxwallah But this compensatory allowance is not reported in AIS.
What happens when inflation rate decrease?
Economy grow. And people get rich
Hii sir is daily allowance expemt allowance in new tax regime
Not exempt in new tax regime
Sir variavle Dearness Allowance received by Central government employee is fully taxable?
Yes, it's fully taxable
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Thanx
What is the exemption limit for section 10 (14) i
There is no upper limit of exemption
SIR NURSING ALLOWANCE TAXABLE YA NOT TAXABLE
Fully taxable
sir for bank employees there is only one head named Special Allowance, there is no seperate head like transport allowance, conveynce allowance. Does this Special allowance comes under sec 10 ??
Special allowance is a residury head of allowance. Hence taxable. But you can get your ctc reshuffle if employer allow.
@@incometaxwallah Sir fully taxablr or partially taxable ??
@@incometaxwallah sir can u make a video on this topic
@@stevejhonson3153 ua-cam.com/video/eQI3tn2ghDA/v-deo.html
This video is for partially exempted allowances
Field allounce are except able???
yes
Sir ration money allowance ur risk allowance exempt hoga na
No
Sir kehte hai ki DA 50% of basic salary hota hai uska kya matlab hai?
Not necessary
I am bank employee handle 2 branches bank give me daily diem and local convence allowances for second branch . any problem to show non gst or gst bill
No problem, you can show any kind of bills
Thank u
Sir police department me 13th month salary tax exempted h ya payable h?
Taxable
Sir is post office saving acc interest is also exempted??
no, its eligible for deduction u/s 80TTA in old tax regime
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How can we use allowances to save tax?
You can get exemption from allowance as per Income tax law
सर् में एक ग्रुप Dसेन्टर गवर्मेन्ट एम्प्लॉयी हूँ मुझे साल में 5000रू वर्दी भत्ता मिलता है और TPT+TPTDA 900+378=1278×12=15336रू मिलते है और 27000 रू CEA मिला है क्या में अपने itr AY2023-2024 में इनका exempt ले सकता हूँ अगर ले सकता हूँ तो कौन से सेक्शन में और कितना कितना प्लीज बताये
Uniform allowance, full exempt
CEA 100 rs. Per month per child ki exemption claim ker lena
Baki taxable hoge
@@incometaxwallah thanks sir gi
Railway me jo kilometre allowance milta hai o taxable hai ya nehi
Kilometre allowance is given to railway employees for duty on running trains.
And It's taxable,
Sir I am a judge in District Court. Will my home orderly allowance , vehicle allowance, Robe allowance , composite grant on transfer are taxable?
every amount, every allowance given for the transfer of job is exempt upto
actual amount received
or
actual expenditure
which ever is less.
so in our view, orderly allowance, vehicle allowance, robe allowance, composit grant are tax free.
LTC allowance fully exempted hai?
Yes
Sir, transfer allowance is fully exempt or not??
Fully exempt to the extent of actual transfer expenses
In which column i can add Conveyance allowance exemption
In allowance coloum in itr first write conveyance allowance and than mention actual expenditure. Which is equal to or higher than conveyance allowance
Sir....is TPTL granted to army personnel a conveyance allowance?
@@rimpaSharma-io9mi no,
SIR RMA ALLOWANCE IS TAXABLE OR FULL EXEMPT
FULLY EXEMTP
@@incometaxwallah sir one more question RHA (RISK and hardship allowance) is mentioned in form 16 83040 rs....is I have to show the same amount in the itr section?????PLEASE tell?????
@@incometaxwallah ???????
@@incometaxwallahsir this exemption is for army personal or for capf personal???
@@VivekSharma-69 for all defense person
Sir dearnes allowance medical ke liye milta hai?
No,
Hello sir, I am Vijay, In my salary slip it is showing that the company giving conveyance allowance but in form 16 there are not exempted under section 10(14) can we claim conveyance allowance along with standard deduction will filling our itr. Thank You
You can claim, but you should not claim it now to avoid income tax notice.
Why Sir?
Please explain with maximum limit
maximum limit of what
@@incometaxwallah Maximum limit of Examption with all Examption Claus
Sir any tax rebate in SDA in tripura
There is no exemption if you receive any income from state designated authority
Sir agar koi online betting se earn kar Raha he or agar vo 5 lacks Per year se uper earn karta ho to usko ITR file mi kitna tax dikhana padega or online betting ka tax ITR ke tor par de sakte he kay sir ?
100 % betting income.
@@incometaxwallah sir betting karna illega to nahi he na
it depends, because RBI declared few websites etc as illegal
@@incometaxwallah illegal website se Kamya hue paise pe agar tax derahe to ?
wrong hai
सिर, किसी ने हाउस लोन के रख है, और जहाँ उसने मकान बनाया है उसकी पोस्टिंग वह नही होकर किसी दूसरी जगह हो गई है, ।
क्या अब वो hra की छूट टैक्स में ले सकता है क्या।
Yes.
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Watch this video
@@incometaxwallah very informative vdo.
Thx a million for clearing the doubt's.
Sir, What are the condition to get the exemptions u/s 10(14)?
expenses for allowance should be higher or equal to allowances of sec 10(14)i)
@@incometaxwallah in my form(16) im not getting this option still Can I avail this exemption? In my salary part im getting Special Allowance more than 50k per month.
If you are not getting any allowance which are not covered u/s 10(14) (I) then no exemption
If you are not getting any allowance which are not covered u/s 10(14) (I) then no exemption
Sir kya police ki 13th month ki salary fully exempt hai
No exemption , Who say like that
@@incometaxwallah sir then how annual salary statement will be calculated? On 12month or 13 th month
@@nikkusingh666 12 months
@@incometaxwallah sir agar hum income certificate banwate hai to annual salary statement ho to dekhte hai
Sir I have one more question, if I make my ews certificate then annual gross salary will be seen for making income certificate
Sir ,reply
How can I help you?
Achanak employee ki death ho jati h hai to family ko dearness allowance milega
No.
But what family gets from company as compensation/ help. That is tax free
Sir arrears bhi fully exmemted hai
No, all arrears are taxable, but a tax planning rebate can be workout under section 89
Sir I have doubt regarding Academic allowance. I get every month 8000 as academic allowance and I have enrolled my self for PGDM course. The fees I paid for 1 semester was 12000 (Enrolled in January 2023 and per semester is of 3 months) FY 2022-2023. Can I claim it in ITR filing as I didn’t disclose in in form 16.
yes, you can claim in ITR u/s 10(14)(i)
Sir i would like to know? Is the special duty allowance taxable? I am working in railway in Assam
Yes, it is
jai hind sir, mera home National high way ma ayya jo compensation mila us pa 20%texlagay kya us ka return police ha
Tax nahi lagega