......................................full form of CCA bill
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Answer:
City Compensatory Allowance (CCA) is a type of allowance offered by companies to their employees to compensate for the high cost of living in metropolises and large cities.
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City Compensatory Allowance full form of CCA bill.
Explanation:
- City compensatory allowance is not connected to elementary salary and is evaluated as per the choice of the employer.
- It is generally a static amount for all staffs occupied in a specific city.
- For assessment drive, CCA is fully taxable and is added to the income of the employee for tax calculation purpose.
- City Compensatory Allowance is fully taxable as per Section 10(14) of the Income Tax Act, 1961.
- The amount that an employee receives as CCA is added to his/her annual income, and then taxed according to the tax bracket that is applicable for him/her.
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