Regarding conveyance allowance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 March 2012
HELP ME IN THIS REGARD:
THE CONVEYANCE PAID BY THE EMPLOYER IS 42000. IS IT FULLY EXEMPTED OR TAXABLE?
THE CONVEYANCE PAID BY THE EMPLOYER IS 42000. IS IT FULLY EXEMPTED OR TAXABLE?
27 March 2012
Transport allowance per employee is exempted @ Rs.800/- per month. Please see section 10(14)of the IT Act,1961 and rule 2BB(2) of the IT Rules,1962.
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