Please Help: Confusion
Posted Date : 03-Mar-2012 , 09:59:02 pm | Posted By SHIKHA SONI
please someone clarify the difference between conveyance allowance and transport allowance and their taxability under the head salary
Category : Income Tax | Answers : 3 | Comments : 2 | Hits : 547
Answers
Answer By: CA. MANISH MALHOTRA
Conveyance alloance granted to meet expenditure incurred on conveyance in performance of duties of an office or employment are exempt.
Transport allowance upto Rs 800 per month granted to an employee to meet his expenditure for the purpose of commuting between place of residence and the place of his duty are exempt.
Transport allowance upto Rs 800 per month granted to an employee to meet his expenditure for the purpose of commuting between place of residence and the place of his duty are exempt.
Answer By: Ketan Samdani
Agree with expert.
Answer By: Rambabu Senkarasetti
I also agree with the above expert.
Comments
Vishal Gupta
05-Mar-2012 , 07:18:05 pmConveyance allowance granted to meet expenditure incurred on conveyance provided by employer or conveyance of employee in performence of duties of employment and is exempt upto actully expended. however transport allownace there is no conveyance provided by employer, employee use public transport. transport allowance is fixed in nature and exempt upto Rs. 800 per month.
RAVINDRA JHA
07-Mar-2012 , 02:03:23 pmConveyence allowence is allowed for meet expenditure in the performance of job/work,its exempt extent of spent part remaining unspent part is taxable & in case of transport allowence upto 800pm is exempt & rem. is taxable