Allowances - Related Articles | H&R Block | Blog
June 5, 2017

Tax Exemption on Car Allowances & Expenses Reimbursement

Company offers car expenses reimbursement to its employees if these expenses are incurred for official duties.  Car allowance income tax liability when owned by the employee is based on the purpose of use: private, official or both. Following points will help us understand taxability of […]
March 20, 2017

Can We Claim Tax Benefits on HRA & Home Loan Together?

With real estate developers doling out attractive schemes, home buyers aren’t worried about the equated monthly installment burden alone. What has been disturbing them is the loss of the house rent allowance benefit that they had been claiming so far. Since the possession of these […]
April 28, 2016
Leave Travel Allowance

Leave Travel Allowance (LTA)

Leave Travel Allowance (LTA) is the most common element of compensation adopted by employers to remunerate employees due to the tax benefits attached to it.  LTA is the remuneration paid by an employer for employee’s travel in the country, when he is on leave with […]
July 28, 2015
House Rent Allowance

House Rent Allowance (HRA) as Income Tax Saving Tool

  House Rent Allowance (HRA) is allowance paid by employers to their employees as a compensation for the rent they pay for residing at homes in the city where their work place is located. However, it is paid to employees by their employers irrespective of […]
March 30, 2015

H&R Block – Claiming credit card expenses for official purpose

  Use of credit cards is now very common with businesses for it provides ease in accounting. Employees get credit cards to meet expenses, which may be incurred for official or personal purpose. Taxability of the credit card expenses depends upon nature of these expenses.  […]
March 23, 2015

H&R Block – Taxability of car expenses when the car is hired or owned by the employer

When the car is owned or hired by the employer, taxability on car expenses is different in comparison to the car being owned by an employee. In  this article we will discuss taxability of car expenses when the car is provided by the employer. When […]
December 1, 2014

Employee Car Expenses Taxability When Car Owned by the Employer

When the car is owned or hired by the employer, taxablity on car expenses is different in comparison to the car being owned by a employee. In  this article we will discuss taxability of car expenses when the car provided by the employer. When company […]
November 18, 2014

Children Education Allowance Exemption & Rules

Education facility provided by the employer to an employee is treated as perquisite. Following are some key considerations from the point of view taxation. Amount spent by the employer for providing free education facility & training of employee is not taxable. Fixed education allowance received […]
November 11, 2014

Leave Travel Allowance (LTA) Exemption & Rules

Employer gives Leave Travel Allowance to their employees for travelling expenditure in India. Leave Travel Allowance paid by employer is exempt two times in a block four years period. This exemption can be claimed once in period of two years. Following points must be considered […]
November 10, 2014

Taxability of Perquisites – Accommodation Provided by Employer

Furnished or unfurnished house given by employer is taxable as perquisite to employees. Many manufacturing companies build colonies for their employees. Many corporates provide house to managerial level employees. Taxability on house provided by employer depends on the following conditions. Type 1: Rent free, unfurnished […]