Hi All, I work as an accountant in an engineering services company. My employees keep complaining that other companies give a lot of allowances that are not taxable, reducing their tax outflow. These include allowances for electronic item purchases and washing. Could any of you share a list of allowances that provide good tax benefits?
Regards,
Prerna
From India, Bangalore
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Regards,
Prerna
From India, Bangalore
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I don't think so, as allowances to buy electronics are exempted. Of course, in any manufacturing industry, if there is a uniform system, then the washing allowance is exempted. Other than those, the following allowances are exempted:
- HRA
- Conveyance Allowance
- Medical Allowance
Regards.
From India, Bangalore
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653- HRA
- Conveyance Allowance
- Medical Allowance
Regards.
From India, Bangalore
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