Which are the allowances are exempted from the income tax, Taxation

Assignment Help:

Q. Which are the allowances are exempted from the income tax?

Ans:

1. Uniform Allowance and Sumptuary Allowance

2. Death cum Retirement gratuity received by Government Servant their families.

3. Gratuity received by an employee

4. Any payment in commutation of pension.

5. Any some received under life insurance policy.

6. Amount by way of encashment of unutilized earned leave.

Related Discussions:- Which are the allowances are exempted from the income tax

Which are the allowances are exempted from the income tax, Q. Which are the...

Q. Which are the allowances are exempted from the income tax? Ans: 1. Uniform Allowance and Sumptuary Allowance 2. Death cum Retirement gratuity received by Government

Explain 5 threats to auitor, explain 5 threats to auditor

explain 5 threats to auditor

Research, Hi can you help me with my tax research and answer the following ...

Hi can you help me with my tax research and answer the following After reading the Treasury Department Circular 230 and AICPA statement of standard for tax services, answer the fo

, Ken, a resident, is a handyman who contracts with people to do a variety...

Ken, a resident, is a handyman who contracts with people to do a variety of jobs including repairing fences, fixing household items and small painting jobs. As part of this work, K

Federal Taxation , Rubric Item #12(b) -- Margaret''s Own Interest in Father...

Rubric Item #12(b) -- Margaret''s Own Interest in Father''s Trust

Prepare the journal entries necessary at december 31, The Diamond Glitter C...

The Diamond Glitter Company is in the process of preparing its financial statements for 2012. Assume that no entries for depreciation have been recorded in 2012. The following info

During the current year, During the current year, Deborah Baronne, a single...

During the current year, Deborah Baronne, a single individual, paid the following amounts: Federal income tax $10,000 State income tax $4,000 Real estate taxes on land $1,400

Tax Individuals , Hi Dear, I did not upload it yet, because I want you to...

Hi Dear, I did not upload it yet, because I want you to tell me if you have the ability to do that within two hours or no,,!! The assignments are MC and three or four probl

The maximum capital cost allowance claim, During the current year, Denos Co...

During the current year, Denos Corporation incurred costs of $45,000 for leasehold improvements to its newly rented building. The lease was signed in the current year for an initia

Example of tax file, Research Problem 2: Carol is a successful physician wh...

Research Problem 2: Carol is a successful physician who owns 100% of her incorporated medical practice. She and her husband, Jared, are considering the purchase of a commercial off

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages