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Income Tax > How allowances are treated by Income-Tax Dept.
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- All sums paid to employees as travelling allowance must be reported. However, the employee will be
granted a deduction limited to 12½% of his basic salary OR $7,200 whichever is the lesser.
- Where the employee is reimbursed on a periodic basis for actual expenses incurred in performing the duties of the office, the amount reimbursed shall not generally be regarded as assessable income. But where the amount appears excessive, the Department reserves the right to substitute therefore, a figure based on agreed Government rates and include the excess in the assessable income of the employee.
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