taxability of Conveyance Reimbursement by company
This query is : Resolved
RAKESH KUMAR
(Querist)
20 December 2007
hi !
all
plz advise me on the following matter:
my company reimburse conveyance expenses of residence to factory every month.
whether it is taxable? and if yes under which section of I.TAX ACT and in which hand employee or employer?
rakesh kumar
all
plz advise me on the following matter:
my company reimburse conveyance expenses of residence to factory every month.
whether it is taxable? and if yes under which section of I.TAX ACT and in which hand employee or employer?
rakesh kumar
RAKESH KUMAR
(Querist)
20 December 2007
please advise
CA. Vineet Grover
(Expert)
20 December 2007
hi rakesh,
if we treat the same as conveyance allowance, the same is exempt upto Rs.800p.m. The excess amount shall be taxed in the salary income in the hands of the employee.
if the same is treated as a re-imbursement of travelling expenses the same shall be considered under conveyance head and shall be subject to FBT taxed in the hands og the employer.
Rgds/
Vineet
if we treat the same as conveyance allowance, the same is exempt upto Rs.800p.m. The excess amount shall be taxed in the salary income in the hands of the employee.
if the same is treated as a re-imbursement of travelling expenses the same shall be considered under conveyance head and shall be subject to FBT taxed in the hands og the employer.
Rgds/
Vineet
RAKESH KUMAR
(Querist)
26 December 2007
hi
Vineet
actually i want to know what should i treat it, whether it is conveyance allowance or transport allowance?
Actually we are just reimburse it between residence to factory
please
regards
CA. rakesh kumar
Vineet
actually i want to know what should i treat it, whether it is conveyance allowance or transport allowance?
Actually we are just reimburse it between residence to factory
please
regards
CA. rakesh kumar
Devendra Mishra
(Expert)
26 December 2007
Ya Rakesh,
I think it is reimbursemt and hence not taxable in your hand but I think FBT will Be payable by Company.
I think it is reimbursemt and hence not taxable in your hand but I think FBT will Be payable by Company.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
