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of <h1>Understanding Section 10(14) Income Tax Act: Taxable vs. Exempt Special Allowances for Employees' Expenses Explained</h1> Special allowances under Section 10(14) of the Income Tax Act are additional payments given to employees beyond their basic salary to cover specific expenses. These allowances can be categorized as either taxable or exempt. Exemptions are classified into three categories: Category 1 allows exemptions up to the amount spent for official purposes, while Category 2 sets specific exemption limits for allowances like children's education, transport, and area-specific compensations. Category 3 involves outstation allowances with exemptions up to 70% or 10,000 per month. Certain exemptions are unavailable to employees opting for taxation under Section 115BAC, except for travel-related allowances.
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