Question

What are the reimbursement and its limit for income tax exemption 2018-2019

Answer 1

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As per an amendment in the Budget 2018, tax exemption on medical reimbursement amounting to INR 15,000 and transport allowance amounting to INR 19,200 in a financial year have been replaced with a standard deduction of INR 40,000. This amendment became applicable from FY 2018-19 (i.e. starting 1st April 2018).

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