Harshal (Tax and Audit Officer) (29 Points)
27 February 2012
A person gets conveyance allowance @ 600 per month for 1st six months and @ 1600 p.m. for next six months. Thus he got Rs.13,200 as conveyance allowance.
Will he get exemption of 1) Rs.8400 (600 x 6+ 800 x 6) or 2) Rs.9600 ( 800 x 12 ).
Kolluru Krishna Murty
(Partner)
(315 Points)
Replied 28 February 2012
The individual should get exemption of Rs 8400/- p.a.
The calculation is Rs 600/-x6+Rs800/-x6 only,since the exemption cannot exceed receipt .
If it is not shown in salary ,he may get exemption at Rs 800/--p.m.
kkm
bhupesh
(Accountant)
(46 Points)
Replied 21 March 2012
My income is 20000 and 2000 is conveyance allowance, company will deduct tax on conveyance too?
Anshul Jain
(Article)
(33 Points)
Replied 21 March 2012
yes,Company will deduct tax on total amout ( Basic Salary + Conveyance allowance) i.e in your case (20000+2000)=22000/-
HARPREET SINGH
(Chartered Accountant)
(79 Points)
Replied 18 December 2012
Hi Bhupesh,
Company has to deduct tax only on taxable part of salary. Out of 2000, if 800 is exempt, then company has to deduct tax on 21,200 not on 22,000.
Thanks
Harpreet
VIKAS BANSAL
(executive)
(27 Points)
Replied 25 October 2013
hi...if company pay salary arrears from jan to sept. in the m\o Oct. than exemption of cony of rs.800/- per month will applicable from april to sept.
jitendra prakash baranwal
(u.p.power corporation lucknow)
(21 Points)
Replied 12 April 2014
i get rs.15510=00 per month as conveyance allowance on basic salary of 20680=00, what amount can be deducted from income regarding conveyance asllowance.
Yasha Jain
(article)
(21 Points)
Replied 19 February 2015
If i get transport allowance of Rs 150 for April,May and june. Rs. 400 for july,august,september and october. Rs. 600 for d remainig dat is from nov to march. and i recieve Rs 500 as arrears of TA in the month of august. although my total is rs 5550 which is less than 9600 (800*12). But in the month of august it is 900 so should i claim 800 for august or full 900 ?
CAclubindia
