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30 Ιουλ 2024 · Here is a list of exempted income under Section 10: Section 10 (13A) of the Income Tax Act covers House Rent Allowance (HRA). The part of your salary you receive to cover house rent and accommodation expenses is exempted from taxation. However, a few exceptions are included in Section 10 (13A) Rule 2A.
To claim exemptions under Section 10, you will need the following: Salary Slips: These should show the allowances received. Proof of Expenses: Bills or receipts for expenses claimed under special allowances (e.g., travel tickets, education fees). Form 16: Provided by your employer after the year ends, detailing salary and TDS.
5 Ιουλ 2024 · Section 10 of Income Tax Act designates some types of allowances as special. Certain individuals are eligible for Exemption of Special Allowance under Sections 10(14) (i) & (ii): High Court judges;
14 Αυγ 2019 · I'm filing income tax return for assessment year 2019-20. I'm facing problem in putting the details for section 10. The Nature of Exempt Allowance column is showing 14 different choices as shown in the below snapshot: The expenses which I'm filing under this section are as below: Office uniform; Technical books and magazines; Driver's salary
9 Νοε 2023 · Taxable Employee Benefits and Allowances. De Minimis Benefits: These benefits, such as rice allowance, uniform allowance, and medical benefits, are non-taxable up to a certain threshold, typically set annually by the BIR. For instance, as of 2022, the maximum non-taxable amount for the 13th-month pay and other bonuses was capped at Php 90,000.
7 Ιουλ 2023 · The allowances and exemptions under Section 10 of the Income Tax Act, 1961, apply only to the case of salaried employees. However, there are certain conditions and requirements that must be followed to avail these benefits.
These instructions are designed to assist taxpayers, or their representatives, with the preparation of their annual income tax return (ITR). If you have questions which are not adequately covered, please consult your local BIR office.
