conveyence allow.

This query is : Resolved

Ram Prakash Gautam (Querist)
Follow

10 August 2010 sir,
plz guide me how much taxable amt. in below figure ??????

a person gets tansport allownce rs. 800 p.m which is exempted & conveyence allowance Rs. 5000/- p.m. than how much amt. will be exempt in conv. allowance ?
as i know :- exemption will be following:-

AMOUNT RCVD OR AMT. EXP.
WHICHEVER IS LESS WILL BE EXEMPT .
IS THIS RIGHT ?????????
PLZ GUIDE ME

CA Punit

CA Punit (Expert)
Follow

10 August 2010 Conveyance allowance is fully exempt u/s 10(14).
It should be used by the employee in conveyance for official purposes.

It is taken for granted that the amount is fully used up.

still wait for more replies...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
Follow

10 August 2010 Transport allowance is exempted Rs.800 or actual allowance which ever is lower

Conveyance allowance is exempted only if it is provided for meet the offical and business purpose otherwise fully taxable

please refer this circular
Circular : No. 764, dated 20-2-1998

Circular: No. 196 [F. No. 275/29/76-ITJ], dated 31-3-1976.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

DHANASHRI KARMARKAR

CA Aakarsh Jain

Michael & Co.

divakar podaturu

sachingurav

Subscribe Now

conveyence allow.

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA