Supreme Court Quashes Rajasthan Village Renaming, Says Government Must Follow its Own Policy  ||  NCLAT: NCLT Can Order Forensic Audit on its Own, No Separate Application Required  ||  NCLAT Reiterates That IBC Cannot be Invoked as a Recovery Tool for Contractual Disputes  ||  Delhi HC: DRI or Central Revenues Control Lab Presence in Delhi Alone Does Not Confer Jurisdiction  ||  Delhi High Court: Software Receipts Not Taxable on PE Basis Already Rejected by ITAT  ||  Delhi High Court: Statutory Appeals Cannot Be Denied Due to DRAT Vacancies or Administrative Delays  ||  J&K&L HC: Failure to Frame Limitation Issue Not Fatal; Courts May Examine Limitation Suo Motu  ||  Bombay HC: Preventing Feeding Stray Dogs at Society or Bus Stop is Not 'Wrongful Restraint'  ||  Gujarat HC: Not All Injuries Reduce Earning Capacity; Functional Disability Must Be Assessed  ||  Delhi HC: Framing of Charges is Interlocutory and Not Appealable under Section 21 of NIA Act    

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 2025 - All Rights Reserved