Income Tax Liability

Allowance is money that you get from your employer for meeting some particular expenses such as transport, HRA. All these allowances are taxable unless it is specifically exempted under income tax act. There are two types of allowance as defined under income tax act; House Rent Allowance Prescribed Allowance House rent allowances are exempted from income tax based on … [Read more...] about Is Your Salary Allowance Taxable in India