Income tax hostel allowance

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Subhash asked over 2 years ago

Hostel allowance given by employers for three children @400/- p.m.per child. butonly one child is staying in the hostel. What amount is taxable

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered over 2 years ago

> Income tax hostel allowance --Under section 10(14)(ii) read with Rule 2BB(2), any allowance granted to meet the hostel expenditure of the employees children qualifies for an exemption of Rs. 300 per month per child subject to a maximum of two children. --If only one child is in staying in the hostel than you can avail the only for the one child upto rs.300/- p.m. and education allowance upto rs.100/- p.m. You cant avail the exemption of rs 400/- p.m. as hostel allowance.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Urmil answered over 2 years ago

Hie The limits are maximum benefits that can be availed. But if there is only 1 child,we won't show 3 children for exemption. Hence only Rs. 400 p.m. is allowed. Thanks & Rtegards Sonu

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Open uri20170510 32134 h540ea?1494421812 Chaitanya answered over 2 years ago

The limits are maximum benefits that can be availed. But if there is only 1 child,we won't show 3 children for exemption. Hence only Rs. 400 p.m. is allowed.

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