Income Exempted (Not Included) under the Head Salaries in Income Tax. In our previous post we discussed about the Income covered under Salaries and now let us know the Income which is not Included under the Head Salaries means Exempted from Salaries under certain conditions. Any income falling within any of the following clauses shall not be included in computing the income from salaries for the purpose of section 192 of the Act.
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Income Exempted (Not Included) under the Head Salaries
Travel Concession or Assistance:
5.3.1 The value of any travel concession or assistance received by or due to an employee from his employer or former employer for himself and his family, in connection with his proceeding (a) on leave to any place in India or (b) after retirement from service, or, after termination of service to any place in India is exempt under Section 10(5) subject, however, to the conditions prescribed in Rule 2B of the Rules.
It may also be noted that the amount exempt under this clause shall in no case exceed theamount of expenses actually incurred for the purpose of such travel.
It may also be noted that the amount exempt under this clause shall in no case exceed theamount of expenses actually incurred for the purpose of such travel.
