(Querist) 17 July 2009
This query is : Resolved
I want to know how to compute income of L.I.C. Development officer's income under Income Tax Act, particularly with regard to allowance of expenditure (giving an example wit fict. figs if possible). further please provide me any case laws for claiming such exps in case the same is not as per sections of the income tax act. Thanks in advance.
Recently the LIC had issued a circular to development officers' CA allowance. According to said circular a separate figure is given for expenditure incurred by a development officer for performing his duty. You can claim said amount u/s 10(14)of the Income-tax Act, 1961 from your salary income.