State which of the following is a taxable allowance and the quantum of allowance liable to tax in the hands of salaried employees: Tiffin allowance given by a company to employees at ₹ 1,000 per month.

Tiffin allowance provided by the employer to employees is fully taxable in the hands of salaried employees as there is no section under the Income Tax Act, 1961 providing any such exemption. Hence the entire amount i.e. ₹1,000 per month is chargeable to tax under the head of salaries.