https://www.taxtmi.com/acts?id=53531 Limits are prescribed for excluding from total income the special allowance covered by Schedule III [Table: Sl. No. 11] to the Act. The exempt amount is the least of the actual allowance received, the excess of rent over one-tenth of salary, or a prescribed percentage of salary based on the place of employment, being 50% for specified cities and 40% for other places. The rule also defines the relevant period and provides that salary includes dearness allowance but excludes other allowances and perquisites. en-us Fri, 20 Mar 2026 18:40:48 +0530 Wed, 08 Apr 2026 15:02:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53531 Limits are prescribed for excluding from total income the special allowance covered by Schedule III [Table: Sl. No. 11] to the Act. The exempt amount is the least of the actual allowance received, the excess of rent over one-tenth of salary, or a prescribed percentage of salary based on the place of employment, being 50% for specified cities and 40% for other places. The rule also defines the relevant period and provides that salary includes dearness allowance but excludes other allowances and perquisites. Act-Rules Income Tax Fri, 20 Mar 2026 18:40:48 +0530 https://www.taxtmi.com/acts?id=53531