Question

Mr. A has three children.
He is getting hostel
allowance of Rs. 550 p.m.
per child. What will be the
taxable amount for hostel
allowance?​

Answer 1

Answer:

• Rs. 300 per month
• Rs. 300 per month8. Hostel Expenditure Allowance: Similarly, any hostel expenditure allowance received by you for your children from an employer is eligible for exemption up to Rs. 300 per month or Rs. 3600 per annum for maximum up to 2 children