Our salary structure has various heads for tax benefits such as meal vouchers, gift vouchers, transport allowance, education allowance, two/ four wheeler allowance, mobile allowance, professional attire allowance etc.
Recently I joined another company, they informed me that as per new government rules all above heads are taxable and now don't have any heads for tax benefits.
Please confirm if such is the case.
From India, Mumbai
7Recently I joined another company, they informed me that as per new government rules all above heads are taxable and now don't have any heads for tax benefits.
Please confirm if such is the case.
From India, Mumbai
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf