Which are the allowances are exempted from the income tax, Taxation

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Q. Which are the allowances are exempted from the income tax?

Ans:

1. Uniform Allowance and Sumptuary Allowance

2. Death cum Retirement gratuity received by Government Servant their families.

3. Gratuity received by an employee

4. Any payment in commutation of pension.

5. Any some received under life insurance policy.

6. Amount by way of encashment of unutilized earned leave.

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