Mr. A is employed in ABS transports as cabin driver. He is paid ₹ 15,000 every month in the whole of previous year as allowance for meeting his personal expenditure in the course of running the goods vehicle. Mr. A does not receive any other amount by way of daily allowance. The amount of allowance eligible for exemption is:
A. ₹ 1,80,000
B. ₹ 1,20,000
C. ₹ 1,26,000
D. Nil
Answer:B
Mr. A is employed in ABS transports as cabin driver. He is paid ₹ 15,000 every month in the whole of previous year as allowance for meeting his personal expenditure in the course of running the goods vehicle. Mr. A does not receive any other amount by way of daily allowance. The amount of allowance eligible for exemption is:
A. ₹ 1,80,000 B. ₹ 1,20,000 C. ₹ 1,26,000 D. Nil