When exemption depends upon actual expenditure by the employee – The following allowances are exempt under section 10(14) to the extent the amount is utilised for the specified purpose for which the allowance is received . In other words, in the cases given below the amount of exemption under section 10(14) is_ 1. The amount of the allowance ; or. 2.
10(14) Uniform Allowance. Exempt to the extent of expenditure incurred for official purposes. Individual – Salaried employee. 3. Sec. 10(14) Special compensatory Allowance (Hilly Areas) (Subject to certain conditions and locations) Amount exempt from tax varies from Rs. 300 per month to Rs. 7,000 per month. Individual – Salaried employee. 4.
The leave encashment to non government employees was exempted maximum Rs. 300000/- on retirement. this limit of Rs. 3 lac was derived from the maximum salary of cabinet secretary (x10 months) of government and increased after every pay commission till 1991 through notification by income tax department. in 1991 the salary of cabinet secretary was Rs.30000/-. with subsequent pay commission.
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List of Exempted Incomes (Tax-Free) Under Section-10, Salary Income- Exempt Allowance under section 10(14), List of Exempted Incomes (Tax-Free) Under Section-10
