How much of Hostel expenditure allowance is taxable?
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Hostel Expenditure Allowance is partially exempt from tax under Section 10(14)(ii) of the Income Tax Act, 1961, read with Rule 2BB(2)(g) of the Income Tax Rules, 1962. Exemption Limit: As per Rule 2BB(2)(g): Hostel Expenditure Allowance is exempt up to ₹300 per month per child, for a maximum of 2 chRead more
Hostel Expenditure Allowance is partially exempt from tax under Section 10(14)(ii) of the Income Tax Act, 1961, read with Rule 2BB(2)(g) of the Income Tax Rules, 1962.
Exemption Limit:
As per Rule 2BB(2)(g):
✅ Maximum exemption = ₹300 × 2 children × 12 months = ₹7,200 per annum
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