Describe Taxable and Tax free allowances and explain the provisions re

Question

Describe Taxable and Tax free allowances and explain the provisions relating to House Rent Allowance u/s 10 (13A)

21 Jan 2021

Answer :

Word Count : 594

Allowances in income tax refer to monetary benefits provided by an employer to an employee to meet specific expenses. Allowances can be classified as taxable or tax-free based on the Income Tax Act, 1961.

### Taxable Allowances
Taxable allowances are fully included in the income of an employee and taxed under the head "Salaries." Common examples include:
1. Dearness Allowance (DA): Paid to offset the impact of inflation; fully taxable.
2. City Compensatory Allowance (CCA): Provided to employees working in metropolitan cities to meet the high cost of living; fully taxable.
3. Entertainment Allowance: Provided for meeting entertainment expenses related to official purposes; taxable, with specific deductions available for government employees __________ ________ _____ _________ _______ _____ ______ _______ __________ _______ __________ _________.
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