Exemption on conveyance allowance

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You may be able to claim a deduction for conveyance allowance when filing your personal income tax return, but it depends on the tax regime you choose. Recent amendments have integrated conveyance allowance into the standard deduction, meaning it's generally no longer claimable separately unless you are a physically disabled employee. Furthermore, the standard deduction, which now includes conveyance allowance, is only available under the old tax regime for the assessment year 2023-24.

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)
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25 July 2023 Can i claim deduction of conveyance allowance while filing personal IT. Is it available on both new and old regime

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2023 Are you filing for salary income or u/h. PGBP?

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)
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25 July 2023 Return is filed under salary income

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2023 Have you followed form 16 while filing the return?
As per latest amendment the conveyance allowance has been submerged into standard deduction. So, it is not allowed separately (unless for physically disabled employee).
Secondly, standard deduction is available only under old tax regime (for AY 2023-24).

SHYAM KRISHNAN K

SHYAM KRISHNAN K (Querist)
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25 July 2023 In my salary slip there is conveyance allowance, then can i claim it

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 July 2023 But check properly. it would have been added to your aggregate salary.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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13 September 2024 Good luck.

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