Transport allowance exemption revised: monthly permissible allowance increased retrospectively from Sept 1, 2008 under amended Rule 2BB of Income-tax Rules. Amends Income-tax Rules by substituting the column entry against serial number 4 in the Rule 2BB(2) table to increase the monthly exempt transport allowance; the amendment is made under section 295 read with clause (14) of section 10 of the Income-tax Act and is retrospective to 1 September 2008.
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Transport allowance exemption revised: monthly permissible allowance increased retrospectively from Sept 1, 2008 under amended Rule 2BB of Income-tax Rules.
Amends Income-tax Rules by substituting the column entry against serial number 4 in the Rule 2BB(2) table to increase the monthly exempt transport allowance; the amendment is made under section 295 read with clause (14) of section 10 of the Income-tax Act and is retrospective to 1 September 2008.
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