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What do allowance means?

April 26, 2017allowance means

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What do allowance means?

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Allowances are fixed sums of money paid regularly in addition to salary. An amount that is allowed or granted is called as Allowance. There are three types of allowance. • Taxable allowance, partially • Exempted allowance • Fully – exempted allowance Fully exempted allowances: Dearness allowance, Medical allowance, Servant allowance Hill allowance, Deputation allowance, Over-time allowance, Other allowance. Partially exempted allowances: Entertainment allowance, House rent allowance, Education allowance, Children hostel allowance, Transport Allowance.