Question

escribe Allowances Which Are Fully Taxable?

Answer 1

The financial benefits given to employees by their employers over and above their regular salary are called allowances. Some allowances that come under the head 'salaries' are fully taxable, while others are partly taxable or fully exempt from tax liability.

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Answer 2

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The financial benefits given to employees by their employers over and above their regular salary are called allowances. Some allowances that come under the head 'salaries' are fully taxable, while others are partly taxable or fully exempt from tax liability.