Hi Am a salaried professional May Anual Salary for AY 2012-2013 will be 14lacs 1. I have recived 1.28lacs as Entertaiment Allowance this year, is it taxable? 2. I have already planed 1lac for 80C, 1.5lac HRA, 1.5lac Int on Home Loan, 15K Medical, 20K Infra Bonds, pls suggest what else can i do to save tax Rgds Mohit asked Jan 27 '12 at 21:12 by Mohit 1●1●1●1 |
Entertainment allowance would be fully taxable in your hands. There is no exemption available for non-govt employees. Regarding tax saving options, please read answers to similar questions here: answered Jan 28 '12 at 00:13 by Pankaj Batra 5.2k●3●20 |