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of <h1>Income Tax Rule 2B: Travel Concessions Exemption Conditions for Section 10(5) Explained; Includes Cash Allowance and Journey Limits.</h1> The statutory provisions under Rule 2B of the Income Tax Rules, 1962, outline conditions for tax exemptions on travel concessions or assistance under section 10(5). These exemptions apply to travel within India for individuals and their families, either on leave or post-retirement, with specific limits based on travel mode and route. For the assessment year starting April 1, 2021, a cash allowance exemption is available, capped at 36,000 per person or one-third of specified expenditure, whichever is less, subject to conditions like payment methods and obtaining tax invoices. The exemption is limited to two journeys per four-year block, with exceptions for children born before October 1, 1998.
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