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Exempted Income u/s 10 - Salary Specific

Income Tax - Exemptions and Deductions - 03 - EXEMPTED INCOMES (SEC 10) Income tax act provides multiple tax exemptions to a Person. A lot of such exemptions fall under section 10 of income tax act. SALARY SPECIFIC EXEMPTIONS Section Particulars (For conditions / details see the relevant clauses) Limit of Exemption 10(5) r.w. Rule 2 Leave travel concession or assistance (LTA) provided by an employer to his Indian Citizen Employees Actual amount spent or Amount prescribed whichever is lower. - On .....

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months 10(10BB) Payments made under the Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985 or scheme Fully Exempt 10(10C) read with Rule 2BA Voluntary Retirement Exempt up to the extent of 5,00,000 Please details refer chapter of Salary 10(10CC) Tax on non-monetary perquisites paid by employer Exempt to the extent of tax paid by the employer. 10(11) Any payment from a provident fund Fully Exempt 10(11A) Any payment from an account, opened in accordance with the Sukanya Samriddhi Account .....

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on partial withdrawal Subject to upper limit as specified 10(13) Any payment from an approved superannuation fund Subject to conditions 10(13A) read with Rule 2A House Rent Allowance Exemption of HRA will be available up to the minimum of the following three options: Actual house rent allowance received from your employer Actual house rent paid by you minus 10% of your basic salary 50% of your basic salary if you live in a metro or 40% of your basic salary if you live in a non-metro. For details .....

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ng in any transport business to meet his personal expenditure during his duty performed in the course of running of such transport from one place to another place provided employee is not in receipt of daily allowance. Amount of exemption shall be lower of following: a) 70% of such allowance; or b) 10,000 per month. 10(14) Conveyance Allowance granted to meet the expenditure on conveyance in performance of duties of an office Exempt to the extent of expenditure incurred for official purposes 10( .....

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