News paper allowance in salary

Manoj Yadav (Querist) 27 December 2011 This query is : Resolved
If a fixed news paper allowance is given in salary and duly mentioned in Salary Slip. Whether it is taxable or exempt. If taxable then can it be treated as exempt by furnishing bills of Newspapers and magzines.

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Sailesh Kumar Shah (Expert) 27 December 2011
It is exempt upto expenditure in newspapers and rest,if balance, is taxable.

prabhakar singh (Expert) 27 December 2011
@Mr.Shah!please refer provision for my knowledge.

Sailesh Kumar Shah (Expert) 28 December 2011
@Shri Prabhakar Singh
under Rule 2BB.

B.Chakrapani Warrier (Expert) 28 December 2011
Fixed news paper allowance given by the employer is taxable under the head 'Income form salary' in the hands of the employee. This allowance is not an exempted income as per section 10(14) of the IT Act,1961 read along with rule 2BB of the IT Rules,1962.

prabhakar singh (Expert) 28 December 2011
Then I am sorry to say that 2BB shall not apply here.

This allowance for news paper would is taxable.

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