Saturday, May 16, 2015

CBDT raises exemption on Transport Allowance

Central Board of Direct Taxes (CBDT) has raised the tax-exempt transport allowance employers can grant employees for commuting between residence and the work place for ` 800 to ` 1,600 a month. The board also amended the I-T Rules to raise the tax exempt transportation allowance in the case of handicapped individuals to ` 3,200 from ` 1,600 a month.

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