65A. Allowance in respect of expenditure on foreign travels for holidaying and recreation

¹[65A. Allowance in respect of expenditure on foreign travels for holidaying and recreation,----      

(1) For the source of section 30(f) . (ii) of the Ordinance   the   allowance   in   respect   of expenditure   on   foreign   travels   for holidaying and recreation of an employee and his dependants in excess of the amount equivalent to three months basic salary of the employee or three-fourths of the actual expenditure, whichever is less, not oftener than once in every two years, shall be admissible.
Explanation. - For the purposes of this rule---

(a)   “basic salary” means the pay and allowances payable monthly or   otherwise, butdose not include -

(i) dearness allowance   or dearness pay unless it enters into the computation of superannution or retirement benefits of the employee concerned;
(ii) employer’s contribution to a recognised provident fund or a fund to which the Provident Funds Act.,  1925  ( XIX of  1925)    applies and the interest credited   on the accumulated balance of an employee in such fund ;
(iii) allowance, which are exempt from the payment of tax; and (iv)   allowance; perquisites, annuities and any benefit;

(b)  “employee” includes a director of a company working full-time for one company;
and

(c)  “dependants” means an employee’s spouse and minor children including step   and adopted children.

(2)   Notwithstanding anything contained in this rule, any expenditure on foreign travels under sub-rule (1) for which payment has been made in a sum exceeding taka [10,000 shall not    be allowed as a deduction in computing the total income unless such payment is made by a crossed cheque drawn, on a bank or by a crossed bank draft.]

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¹.Ins by. S.R.O.No.340-L/85,dt. 21-07-1985

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