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What is Salary Allowances and Tax Treatment about?

These allowances are fixed monetary payments made by an employer to an employee for meeting personal or official expenses. They are predetermined amounts irrespective of actual spending. Allowances are always paid in cash, not in kind. Common allowances include dearness allowance, house rent allowance, travel allowance, and medical allowance. The tax treatment of allowances varies with some fully taxable, some partly taxable, and some exempt.

Author

Saumya Singh

Language

EN