Exemption Limit on various allowances / reimbursements

Hi Pankaj, Would you please tell us if there is any limit on the maximum amount of exemption that can be claimed against these - Professional Development Allowance, Periodical Journals, Telephone Reimbursement and Internet Reimbursement? Also, for telephone and internet reimbursements, if we hold prepaid connections, then what kind of bills / receipts can be produced for getting the exemption?

asked Sep 07 '12 at 12:00 by anand19779 16225

As such there is no limit defined by income tax department as these are not standard exemptions/deductions but are reimbursed on actual basis.

But having said that these should have some reasonable limits based on position, function and total package. A CEO with 50-60 lakh package may have high limits whereas an engineer with 4-5 lakh package may have lower limits.

For prepaid connections, invoice from recharge shop or online recharge website showing number and name of account holder should be accepted.

answered Sep 07 '12 at 12:09 by Pankaj Batra 5.2k320

That's really quick and a good one. Thanks again Pankaj.
(Sep 07 '12 at 12:11) anand19779

Know someone who can answer? Share a link to this question via Email, Twitter, or Facebook

Your answer
toggle preview

Follow this question

Once you sign in you will be able to subscribe for any updates here

Markdown Basics

  • *italic* or __italic__
  • **bold** or __bold__
  • link:[text](http://url.com/ "title")
  • image?![alt text](/path/img.jpg "title")
  • numbered list: 1. Foo 2. Bar
  • to add a line break simply add two spaces to where you would like the new line to be.
  • basic HTML tags are also supported



Asked: Sep 07 '12 at 12:00

Seen: 7,034 times

Last updated: Sep 07 '12 at 12:11