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11LeastKnownAllowancestoSaveTax
As per Wikipedia, An Allowance is an amount of money allotted or given
usually at regular intervals for a specific purpose. Allowance is given in
additiontosalarytomeetspecificrequirementsofsalariedemployee.InIndia,
Income Tax Planning is very myopic. It is only restricted to investment,
investmentandinvestment.Asihighlightedinmypost,7 Financial Mistakes
Allowance
You should Avoid that FREE ADVICE is responsible for this myopic
approach towards tax planning. A tax planner should look beyond
Investments.Heshouldprovide360degreeguidetotaxpayeronhowtoSAVETAX.Allowances
and Perquisites are 2 such tax saving buckets / instruments. An Allowance and Reimbursement
canbeusedinterchangeable.AnallowancepaidagainstactualbillsisreferredasReimbursement
which is fully exempted from income tax. In this post, we will cover 11 least known allowances
whichcanhelpyoutosavetax.Innextpost,iwilldiscussperquisites.
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Toemphasisontheimportanceofallowances,letmesharerecentexampleofoneofmyclientMs.
RoshniJunejafromMumbai.ThreeMonthsbackshechangedherjobandgotsalaryhikeof30%.
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She was quite excited about her new job. When she received her first salary, it was a shocker.
Increase in her monthly take home salary was just 8%. Reason being, Salary structure of old
employer was tax friendly i.e. loaded with allowances and perquisites whereas new employers
salary structure is flat. Though her salary increased by 30% but only on papers. Net take home
salaryincreasedbyjust8%.Beinganoviceshewasnotawareoftaxabilityofallowancesandher
incometaxplanneralsoneverinformedher.
Anothermisconceptionisthatallowancesareoverandabovesalary.Technicallyitiscorrectand
asisharedindefinitionalsothatthesearegiveninadditiontosalary.Pleasenotethatcurrentlyall
privatesectoremployeeshaveCTC(CosttoCompany)structure.ThetotalCTCremainssame.It
include basic, variable, perquisites, allowances etc. Employee can select various tax friendly
componentstoreducetaxoutflow.Itisadvisabletokeepbasicsalaryminimumandoptformax
tax friendly components like Allowances, Reimbursements and Perquisites. It will help to reduce
yourtaxoutflowconsiderably.
As a salaried employee we are aware of some of the most popular allowances like House Rent
Allowance, Leave Travel Allowance, Medical Allowance and Travelling/Transport Allowance.
TravellingallowanceisincreasedfromRs800/monthtoRs1600/monthfromFY201516.There
arewholelotofnotsopopularallowanceswhichhelpyoutosavetax.Mostoftheseallowances
are exempted u/s 10(14) and are detailed in Rule 2BB of income tax rules. Under this rule, the
allowanceisallowedirrespectiveofthenameassignedbytheorganization.Forexampleuniform
reimbursement is also referred as wardrobe reimbursement by some companies. Only pre
conditionisthatnatureofthesameshouldbeasdefinedunderIncomeTaxAct.Pleasenotethat
these allowances are available only for individual salaried employees. I do agree that employer
designthesalarywhichisstandardforallemployees.Someofthetaxfriendlyallowancesmayor
maynotbepartofsalarystructure.Anemployeecanalwaysrequestforinclusionofthesameto
reducetaxoutflow.Employeecanalsonegotiateatthetimeofacceptingjoboffer.
11LeastKnownAllowancestoSaveTax
1.UniformAllowance:Oneofmyfavoriteasthereisnomaxlimittoit.Itisfullyexemptedfrom
incometaxonactuals.Employeehastoproducebillstoclaimthesame.Thisallowanceisgivento
meettheexpenditureonthepurchaseandmaintenanceofofficeuniformforwearwhileperforming
office duties. In this case, uniform does not necessarily mean like school uniform or uniform of
workersinfactory.Generallyallofficeshavedresscodei.e.employeeshouldbesmartlydressed
in formals. In this case, according to dress code of the office, an employee can claim uniform
reimbursementforformalclothespurchasedforofficewear.
2. Mobile / Telephone Reimbursement: If your office duty require mobile / telephone / internet
connection. You can claim 100% exemption against billed amount by producing actual bills. For
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example IT Professionals, employees in sales function, HR, Middle Management etc can claim
exemption. Some employers take declaration from employees i.e. segregation of personal and
officialcallswhereasothersareliberal.Infewcases,iobservedthatthereismonthlycapnormally
of Rs 2000 per month. Please note that reimbursement can be claimed only for Postpaid
Connections.
SelfDrivetheE20
AtRs800/day
mylescars.com/MylesSelfDrive
Cars
3.ChildrenEducationAllowance:Underthishead,youcanclaimexemptionofmaxRs100per
month per child for a maximum of 2 children. Payment Receipts are not required to claim
exemption therefore it is not a reimbursement. Though amount is small but if you have 2 school
going children then you can claim Rs 2400 p.a. This allowance is paid to meet the education
expensesofachild.
4.ChildrenHostelAllowance:Ifyourchild/childrenarestayinginhostelthenyoucanclaimmax
exemption of up to Rs 300 per month per child for a max of 2 children. Payment receipts are
requiredbytheemployertoclaimincometaxexemption.YoucanclaimmaxRs7,200p.a.for2
children.
5.SoftFurnishingAllowance:Inthishead,employeeisallowedtobuysomehouseholditemsor
payforsoftfurnishingofthehouse.Originalbillsarerequiredforreimbursement.Normallythereis
amaxcapdependingonthehierarchyoftheorganization.Maxreimbursementislimitedtojustify
the same. For MidManagers, Soft Furnishing Reimbursement is restricted upto Rs 50,000
dependingonthesalaryofperson.Thereasonforsoftfurnishingreimbursementisthatemployee
needtoentertainguestsathisresidenceforofficialpurposeandexpenseincurredtoprotectoffice
furnitureatresidence.
6.Newspaper,BooksandPeriodicals:Someprofessionsdemandanemployeetokeepabreast
withlatesthappeningsrelatingtoprofessione.g.medical,finance,legaletc.Thereforeemployee
canpurchasenewspapers,books,periodicalsetcandsubmitactualbillsforreimbursement.Itis
fullyexemptedfromincometaxonactuals.SomeorganizationscapthemaxlimittoRs1000per
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month.
7.ReimbursementofConveyanceExpenses:IfthejobrequirelotofLocaltravellinglikefront
end staff, sales employees, collection agents etc. An employer can reimburse actual expense
incurredbytheemployeeatactuals.Amountreceivedisfullyexemptedfromincometax.Only2
conditionsshouldbefulfilled(a)Employeeisnotreceivingtransportallowanceand(b)Employee
should maintain log book with respect to travelling and corresponding expense. Exemption is
available only against actual bills, reimbursement without bills is taxable. Conveyance expenses
shouldbeincurredonlyforperformanceofofficialduty.
8. Daily Allowance: If your normal place of duty is not fixed and you have to travel to different
places.YouremployercanincludeDailyAllowancetomeetordinarydailychargesincurred,ifyou
areabsentfromnormalplaceofduty.Reimbursementreceivedisfullyexemptedfromincometax
againstactualbills.Itcanbegrantedeitherontourorperiodofjourneyinconnectionwithtransfer.
9.ResearchAllowance:Anyamountspent&reimbursementclaimedbyemployeeforacademic
research or other professional pursuits including training, short term / online course etc. is fully
exemptedfromincometaxonproductionofactualbills.
10.TourAllowance:Thoughthereisnoformalnameforthisbutanyallowancegrantedtomeet
the cost of travel on tour or being transferred from one place to another. Reimbursement is fully
exemptedfromincometaxagainstactualexpenditureincurred.Italsoincludecosttowardsmovers
andpackers.
11.HelperAllowance:Youcanhireorengagehelperwhocanhelpyouinperformanceofofficial
duties.Anyexpenditureincurredisfullyexemptedfromincometaxonactualvalue.
Throughintelligenttaxplanning,youcansavetaxoutsideInvestmentsalso.Dependingonyour
job profile and nature of job, you can discuss with your employer to include above mentioned
allowancesinyoursalarystructure.Itcanhelptoreduceyourtaxoutflow.
CopyrightNitinBhatia.AllRightsReserved.
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10BenefitsofStayingonRent
96Comments
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10PerquisitesThatCanHelpInTaxSavings
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Jointhediscussion
SharadChandraAgarwal 14hoursago
IhavesubmittedmedicalbillsamountingRs18Ltomycompany.butgotonlyRs2.75Las
reimbursement.Whattodo?howmuchdeductionunderwhichsectionisadmissible?
Reply Share
VikasPandey 8daysago
Sir,InfewsaysthereisRs.24000/taxfreeamountisgivenforuniformallowanceandsomesays
Rs12000istaxfreewhenavailingnewspaperorjournalallowance.Secondlyifmycompanyis
payingeducationallowanceormedicalallowance/newspaperallowancedowehavetosubmitbills
monthtotheHRdepartment.AndifiamgettingmedicalallowancewhichhasacapofRs15000/
andifiampaidmonthlyofRs1250thendoihavetosubmitbillsmonthlyoryearlybasis.Kindly
clarify..
Reply Share
NitinBhatia
Theuniformallowanceisdecidedbythecompany.Asimentionedinmypostthat
newspaper/medicalallowancearereimbursements.Therefore,youneedtosubmitbillsto
HR/Financetoclaimthesame.Iamnotsurewhatismeantbyeducationallowance.
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HR/Financetoclaimthesame.Iamnotsurewhatismeantbyeducationallowance.
Almostalltheorganizationsdemandbillonyearlybasiseveniftheallowanceispaidon
monthlybasis.
Reply Share
Kiran 20daysago
Sir,Iseekaurgentclarificationfromyou:Foryear201516,MyCompanyhasshowntelephone
reimbursement12000/rupeesastaxableincomewithoutconsidering6000/phonebillswhichi
havesubmittedtocompanybutduetolateapprovalbycompanyinmonthofmay2016theyare
sayingtheycantconsidereditasexemptionfortheyear201516eventhoughmobilebillsareof
jan16,feb16&march16,caniclaimthis6000/whilefilingITreturn.PleaseHelp
Reply Share
NitinBhatia
Inmyopinionyoucannotclaimtaxexemptionagainstmobilereimbursementatthetimeof
ITRfilingifitwasnotconsideredbyyourcompany.
Reply Share
G.K.NARULA amonthago
HelloSir,CanIclaimabovementioned11TaxsavingallowancesinIncomeTaxReturn?Warm
Regards,
G.K.Narula
Reply Share
NitinBhatia
Theseallowancesareprovidedbyemployer.Asalariedemployeecannotclaimthese
allowancesatindividuallevel.
Reply Share
DhritimanChoudhury amonthago
HiNitin,
Greetingsoftheday!!
Foundyoursuggestions&thisdiscussionforumquitehelpful.Wouldliketobeverysurewhether
Retainers(RetiredEmployeesstillworking)arealsoeligibleforalltheseallowances&
reimbursements?IfyesthenisthereanyotherwaytheseareexemptedforRetainersordoesit
followthesameprocessasexistingemployeesget?Weareplanningtobringinalotoftaxsaving
allowances&Reimbursementsforthem,henceyouropinionishighlysolicited.
WarmRegards,
Dhritiman
Reply Share
NitinBhatia
Itdependswhetherretiredemployeesareworkingasfulltimeemployees,consultantsor
parttimeemployees.Secondly,italsodependonyourcompaniesretirementpolicy.
Reply Share
DhritimanChoudhury>NitinBhatia amonthago
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HiNitin,
Thanksforyourresponse.
Currentlytheretiredemployees(Retainers)areworkingasfulltimeemployeesat
variousresponsiblepositions.However,theydonothaveasalarystructure.Onlya
lumpsumamountiscrediteddirectlytotheirsalaryaccount.So,ifthisispossible&
allowedaccordingtotheIncomeTaxRules,thenwewouldgoaheadandcreatea
structureforthemtoowithallnontaxablecomponentsincluded.Inthiscase,kindly
letmeknowhowwouldweprovidethemtheBasicsalary&statutorycomponents
likePF,ESIC,etcbecauseamnotsurethatRetiredEmployeesareeligiblefor
statutorypart.AlsotillhowlongwecankeeptheRetainersinourcompanyasfull
timeemployees?
Yourexplanations&opinionishighlyvaluableinthisregardtooursalary
restructuring&bringingcertainOrganizationalPolicies.
Thanksagain.
WarmRegards,
Dhritiman
Reply Share
NitinBhatia
Asisharedinmypreviouscommentthatitdependonyourcompany's
retirementpolicy.Youhavenotmentionedwhatistheretirementageasper
yourcompany'spolicyandwhethertheseemployeesretiredfromyour
organizationorsomeotherorganization.Lastly,whethertheycrossedthe
retirementageofyourcompanyornot.
Reply Share
DhritimanChoudhury>NitinBhatia 23daysago
TheRetirementAgeofemployeesinourcompanyis58asperpolicy.These
employeeshavebeenworkinginourorganizationitselfandretiredfrom
here,buttheyhavebeenretainedasRetainersandhenceworkingasfull
timeemployeesandgetalumpsumamountwithoutanystructure.Allthese
employeeshavecrossedtheRetirementageofourcompany(i.e.58years).
Thanks.
WarmRegards,
Dhritiman
Reply Share
NitinBhatia
Inmyopinion,anyemployeecrossingtheretirementageofthecompany
cannotbehiredasaFULLtimeemployee.Youcanhirethemasconsultant.
Asacompanyyoucannotofferanyallowancesorperquisitestothem.The
questionofstatutorycomponentsdoesnotarise.Youmaylandyourselfin
statutorycomplianceissueifanysuchemployeeapproachlaborcourtor
anyothergovtauthorityclaimingstatutorybenefits.Onthecontrarybynot
offeringthePFtofulltimeemployeeyouareviolatingthelaw.Therefore,itis
adoubleedgedswordforthecompany.
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11LeastKnownAllowancestoSaveTax
adoubleedgedswordforthecompany.
Reply Share
DhritimanChoudhury>NitinBhatia 17daysago
HiNitin,
Thankyousomuchforyourvaluablesuggestion&opinion.I'lldiscussthe
samewiththedirectorsandgetbacktoyouincaserequired.
Thanksagain.
WarmRegards,
Dhritiman
1
Reply Share
ManojKumarSahu 2monthsago
HelloSir,
LastFY(201516)ihavesalaryIncomeandalsoworkedasaSubjectMatterexpertforwhichTDS
wasdeductedu/s194J.NowmyqueryiswhichITRformshouldiuseformytaxreturn?Andto
savetaxcaniclaimanyexpenseagainsttheProfessionalincome(Subjectmaterexpert)like
Telephoneexpense/internetexpense/electricityexpenseetc?Pleaseguide...
Reply Share
NitinBhatia
ITRdependonvariousfactors.Ifyouhaveonlysalaryincomeandchargedprofessional
feesthenyoumayfileITR1.Youcanclaimexpenses.
Reply Share
Karan 3monthsago
HiNitin!Ifinoneofourcompanyclient,thereimbursementsareclaimedbytheemployeeswhile
clickingthephotooftheinvoicewhichultimatelygetsclearedbytheclearingagencysittingabroad
(afterproperlyascertainingiftheyareindeedgenuine).Inshort,theoriginalsarenotretainedby
theemployees.
Arethereimbursementsvalidinthiscaseandnotliabletotax?
Reply Share
NitinBhatia
Areimbursementcannotbeprocessed.Theemployeeshouldproduceoriginalbill/invoice.
Theamountwillbetaxable.
Reply Share
Mithra 3monthsago
HiNitin,
IhavetakenHealthInsuranceformyfatherinlawandmotherinlaw.WillIbeabletosubmitthisas
proofunder80D.
Reply Share
NitinBhatia
No.Onlyparentsareallowed.
Reply Share
http://www.nitinbhatia.in/personalfinance/11leastknownallowancestosavetax/
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11LeastKnownAllowancestoSaveTax
Abhi 3monthsago
HelloNitinSir,
Ionbehalfofmycompanyamtryingtomakethesalarystructureofmycompanymorebeneficial
1)forTelephoneexemptionarebillsneededtobeprovidedforexemption(similartomedical
allowance)
2)Iftheofficedoesnothaveadresscode,canuniformallowancestillbeprovided?
3)ifmyemployeesrequiretobeabreastofthecurrentsituationandthereforesubscribeto
newspaperintheirhomes.Cantheygetanexemptionforthesame?
Reply Share
NitinBhatia
1.Yes.Itisreimbursement
2.Yes.Youcandefineformaldressingasdresscode.
3.Yes
Reply Share
Kiran 3monthsago
HelliNitinSir,
Iamcuriousaboutsoftfurnishingallowance.OurofficeCAcommentsiseithertaxableas
perquisitesorexemptionsarenotavailablecurrently.Icouldnotseeanyinfoaboutsoftfurnishing
allowanceathttp://www.incometaxindia.gov.....CouldyoupleasegivetheIncometaxRule
number/Clausenumbertosupportthis?
Reply Share
NitinBhatia
IagreewithyourCA.Itwillbetaxedasperquisite.Youmayoptforit.
Reply Share
SKNGOA 3monthsago
DuetooversightofGovt.Accountant,madeshortTDSofanamountRs8000/ofoneemployee
MrMilindforAssessmentYear201617.
SaidemployeeMrMillind,selfassessedhisownincomeandpaidtaxofRs8000/byChallan
dated12/03/2016withoutconsultingGovtEmployer.
We(Employer)havenoticedamismatchofRs8000/inourBIN(BookIdentificationNumber)of
quarterlyreturnofmonthFebruary2016.
InthisregardhowtoadjusttheamountofRs8000/paidbyshriKesarkarbychallandated12/03
/2016onourTANdeductoraccount(Employer)inthenameofMrMilindsothatwecanavoid
shortdeductionfineandnotice.
Reply Share
NitinBhatia
Iamassuming,employeepaidselfassessmenttax.Employeecanclaimrefundatthetime
offilingofITR.
Reply Share
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11LeastKnownAllowancestoSaveTax
HarjotSahota 3monthsago
IamasalariedindividualwithcurrentCTCwhichgoesupto30%Taxliabilitycurrentlyworkingin
MarketingFeild,
CanyouletmeknowwhataretheMAXLimitsforbelowTaxsavingallowance
HelperAllowance
Driverallowance
UniformAllowance
InterNetAllowance
Reply Share
NitinBhatia
Pleasegothroughthepostonthispageandfollowingpost
http://www.nitinbhatia.in/pers...
Reply Share
Nikhil 3monthsago
HelloNitin,
Thanksforthiswonderfularticle.
JustwanttoknowwitheffectfromFY2016,underTelephonereimbursements,caniclaimmy
Broadband/Internetexpenses.
Iamnotusinganylandlineinthis,butjustthebroadbandconnection?
Reply Share
NitinBhatia
Youcanclaim.
Reply Share
RajeevPandey 3monthsago
IamaCentralPSUemployeeofE3level,IamavailingConveyanceorTransportAllowancesince
year2007(40LitersPetrol)butunfortunatelyIhadnotgivensuchbenefitfromApril2009andRs.
800/givenasTransportAllowanceuptoMarch2015.
Onobservingmysalaryslip,itisobservedthatnoTransportAllowanceismentionedinmysalary
slipfortaxexemptionpurpose.
Pleaseadvicewhatwehavetodo.
Reply Share
NitinBhatia
Itisnotmandatoryanddecidedbytheemployer.Italsodependonthejobprofile.Youmay
checkwithHRinyourorganization.
Reply Share
NitinTripathy 3monthsago
DearSir,
IhavemissedtomakefewreimbursementsfrommyorganizationinlastFYi.e.20141.CanIstill
applyforthatreimbursement&Willigettaxbenefitonthatamount?Pladvice.
Regards
NitinTripathy
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Reply Share
NitinBhatia
No.Reimbursementisprovidedbyorganizationagainstactualbillsandtheymusthave
paidthetaxableamounttoyouafterdeductingTDS.Therefore,nowyoucannotclaimtax
benefit.
Reply Share
NitinDevnani 3monthsago
Hellosir,
Iboughtacellphoneworth35k.CanIfilethatinmyincometaxreturn?Ifyesthenunderwhich
category.
Thanksinadvance.
Nitindevnani
Reply Share
NitinBhatia
ItisnotclearwhyyouwanttofileamobilepurchaseinITR.
Reply Share
NitinDevnani>NitinBhatia 3monthsago
Togettaxbenefit
Reply Share
NitinBhatia
Youcannotclaimtaxbenefitonmobilephonepurchase.
Reply Share
PawanSharma 3monthsago
hellosir
Ihavestarhealthinsurancepolicy.
itisundersection80dprovidetotaxbenefit20000oritisbenefitundertosection80means
150000(max)
Reply Share
NitinBhatia
Youcanclaimbenefitu/s80D.
Reply Share
AnupDeosthalee 4monthsago
MyCompanyisreimbursingpetrolbills.Isittaxableundermypersonalaccount?
Reply Share
NitinBhatia
Pleasegothroughmyfollowingpostformoredetails
http://www.nitinbhatia.in/pers...
Reply Share
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AyushBhatnagar 4monthsago
HelloSir,
IfaPersonisanemployeeofacorporatecompanythenwhatthepersonshoulddotosavehis
incometaxwithoutusingsection80C?
AndIfCompanyisprovidinghimBonus&HRAthenwhatshouldhedotosavetax,Inthis
conditionisitnecessarytousesection80Cornot?
Reply Share
NitinBhatia
Itisnotnecessarytosavetaxu/s80C.YoucanclaimHRA.Otheroptionsareallowances
andperquisitesthatihavesharedinmyposts.
Reply Share
ameyadhok 4monthsago
hello,
iaminPSU,wearegettingtelephonereimbursementasperourdesignation.canthisamount
exemptedfromtaxableincome?
Reply Share
NitinBhatia
Itistaxfree.
Reply Share
kapilarya 5monthsago
mybasketofallowanceis73000permonthandmybasicsalaryis38000permonth.Sohow
muchincometaxwillbedeductedfrommysalarymonthly?
Reply Share
NitinBhatia
Itrequireddetailedcalculation.YoumaycheckwithyourHRdepartmentorCA.
Reply Share
SKNGOA 5monthsago
IamClassCGovtemployee,MyTAisRs800/Pm.WhatismaximumtaxrebateIcanget
asperlatestruleforFY201516?
Reply Share
NitinBhatia
FromcurrentFYtheTransportAllowanceexemptionisdoubledtoRs1600permonthfrom
earlierRs800permonthbutasyouarereceivingRs800p.m.thereforeyoucanonlyclaim
maxRs800p.m.Youcanalsocheckwithyourdepartmentwhyitisnotincreasedinyour
case.
Reply Share
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