Allowable under taxation act or not?

Hello...

whether conveyance allowance  provided by insurance co to  field officer of  insurance co is exempt from tax if not is there any ceiling limit?

and whether incentive bonus given by insurance co is an allowable item to field officer ? if not what is ceiling limit for allowability.

Replies (4)

CONVEYSNCE ALLOWANCE IS EXEMPTED UPTO THE AMOUNT ACTUALLY SPENT BY EMPLOYEE FOR OFFICE USE

All allowances are which are used for office purpose are exempt from tax irrespective of their celing limit.

Originally posted by : Nikhil Kothari

All allowances are which are used for office purpose are exempt from tax irrespective of their celing limit.
 

Dont use the word "exempt". The proper word is "allowable". Only income can be exempt. Expenditure are never exempt. They can be allowable or disllowable. 

In the current case, all the expenses which are made for the business purpose are allowable to the company in the income tax provisions. There is no limit on the same, but there should be valid evidence to prove the same.

Originally posted by : Amol Gopal Kabra (CA,CS,DISA)




Originally posted by : Nikhil Kothari






All allowances are which are used for office purpose are exempt from tax irrespective of their celing limit.
 






Dont use the word "exempt". The proper word is "allowable". Only income can be exempt. Expenditure are never exempt. They can be allowable or disllowable. 

In the current case, all the expenses which are made for the business purpose are allowable to the company in the income tax provisions. There is no limit on the same, but there should be valid evidence to prove the same.

Thank you sir correcting me..:-)

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
Chartered Accountant - Internal Audit

HKC | Chartered Accountants & Business Advisors

Ludhiana

CA

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details