Patna HC: Disciplinary Authority Cannot Impose Major and Minor Penalties in a Single Order  ||  Calcutta HC: Landlord Decides His Residential Needs; Courts Cannot Set Living Standards in Eviction  ||  Orissa HC: Second Marriage During Subsistence of First Remains Invalid Even After First Wife's Death  ||  Karnataka HC: Appeals Against Acquittal in Bailable Offences Lie Only Before High Court  ||  Supreme Court: Stamp Duty on an Agreement to Sell is Leviable Only if Possession is Transferred  ||  SC: Motive Becomes Irrelevant When Direct Evidence Such as a Dying Declaration is Available  ||  Supreme Court Issues Directions to CoC in Builder Insolvency Cases To Protect Homebuyers’ Interests  ||  MP High Court: Women Retain Reservation Benefits After Marriage if Caste is Recognized in Both States  ||  Allahabad HC: Police Must Prosecute Informants of False Firs, and IOs May Face Contempt if They Fail  ||  MP HP: Over-Age Candidate Cannot Claim Age Relaxation Due to Delay in Earlier Recruitment    

CBDT Notifies Amendment in Income Tax Rules for Exemption on Travel Concessions - (07 May 2021)

DIRECT TAXATION

Central Board of Direct Taxes (CBDT) has notified the amendment in Rule 2B of the Income Tax Rules, 1962 where the provisions relating to exemption in respect of cash allowance received in lieu of leave travel concession (LTC) has been incorporated. As per the amended rules, specified employees will get an exemption up to Rs. 30,000 or one-third of the specified expenditure for amount of travel concession.

Tags : CENTRAL BOARD OF DIRECT TAXES   EXEMPTION ON TRAVEL CONCESSIONS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved