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Is sumptuary allowance exempted fronm income tax?
Is sumptuary allowance and daily allowance paid to the minister in india are taxable
What is food allowance?
A food allowance is a specific amount of money allocated to individuals or families for the purpose of purchasing food. It is often used in budgeting and financial planning to ensure that a portion of income is designated for essential food expenses. The allowance may be determined based on factors such as family size, income level, and dietary needs.
What percentage of royalty income is the depletion allowance?
The depletion allowance for royalty income is typically 15% of the gross income from the property. This allowance is designed to account for the reduction in the value of the mineral or natural resource being depleted.
Is tuition fee paid for self exempted from income tax in India?
No
What are the nontaxable compensation income in the Philippines?
If you are receiving the minimum income which is 11,856 as of November 1, 2012 you are exempted from tax.
What is a 'personal allowance' for income tax?
money that does not have to be paid
What is a synonym for annuity?
Income, grant, allowance, proceeds, net...
What does 'exempted' mean in reference to income taxes?
just means that u are not required to do it. or u don't have to do it.
What is the average monetary allowance for a 13 year old in the US?
The average monetary allowance for a 13-year-old in the US is around $10 to $15 per week. However, this amount can vary depending on factors such as location, family income, and individual family preferences.
Is conveyance reimbursement exempt from tax under the head Income from salayr as per the income tax act in India?
yes conveyance received on reimbursement basis is completely exempted from salary income of the employee. If it is fixed amount with out considering billsor actual expenses spent then Rs 800 per month is exempted
What is the exempted limit of Indian Income tax for individual for assessmnt year2014-15?
The exempted limit of Indian Income tax for individual for assessment for the year 2014-2015 is expected to, I think, it would be 2.2 lakh for male , n 2.5 for female and sr. Citizens.
What is the benefit of claiming yourself as an exemption?
Each exemption is equal to an amount of income that is "exempted" from taxation. Hence it lowers your taxable income and therefore tax.
