Please Help: Conveyance allowance to Manager
Posted Date : 04-May-2012 , 11:39:42 am | Posted By sourabh mehra
If co. is providing car to the manager, then whether it can mention conveyance allownace in salary break-up of that manager
Category : Income Tax | Answers : 4 | Comments : 2 | Hits : 287
Answers
Answer By: Vikash Kumar Jha
People who have opted out of transport facility are getting conveyance allowance. As per income tax act sec.10(14) says following allowances are taxed as follows
Answer By: Rishabh Upadhyay
Allowances are monetary considerations paid to employess for specified categories. Providing a car to the manager is a perk and not an allowance. And hence can not be mentioned in salary
Answer By: CA. SURESH Kr. AGARWAL
Dear providing car facility is a perks not allowance. As per income tax the same facility is not included in the salary and it will not be taxable.
Answer By: Rambabu Senkarasetti
yes. it is part of salary
Comments
riddhi
04-May-2012 , 12:51:07 pmAs per my opinion,the above case comes under perquisites and not allowance.Since company is giving facility and the lumpsum amount in which assessee can deal on their own.
VISHWAS MALIK
05-May-2012 , 11:19:34 amThe car is given by the company to manager as perks not an allowance so, conveyance allowance is given to the manager in salary.