J&K&L HC: Undenied Pleadings are Deemed Admitted by Implication under the CPC  ||  Kerala HC: Transfer Order Pending Disciplinary Proceedings Cannot be Disguised as Punishment  ||  Allahabad HC: GST, Incentives, 0r Festival Advances Cannot be Deducted From Employee’s Retiral Dues  ||  SC: Absconding Accused Cannot Claim Anticipatory Bail Solely Because a Co-Accused Was Acquitted  ||  Supreme Court: District Cricket Bodies Must Adopt Good Governance Voluntarily, Not Follow BCCI Rules  ||  Supreme Court: Post-Award Property Purchasers Cannot Resist Execution of an Arbitral Award  ||  SC: Telecom Spectrum is a Community Resource and its Ownership Cannot be Decided under the IBC  ||  SC: Police Failure to Invoke IPC Provisions Led to Contractor’s Acquittal in Cement Stockpiling Case  ||  SC: Bank’s Internal Classification of Debt as NPA Does Not Determine Limitation under the IBC  ||  Bombay HC: Clarifies Procedure for Executing Foreign Decrees    

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