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Can i claim petrol allowance as an exemption

Tax planning 500 views 1 replies

santosh

Accountant

52 Points Joined January 2015

Hi friends

Please tell me that can i claim petrol ALLOWANCE as an exemption under SALARY headfrom incometax..Is there any fixed amount of exemption. if yes please give me any reference.

I had already claimed conveyance exemption, i want to claim one more exeption in my salary structue. Can u please help me to provide list of fixed exemption i can claim form the incom tax

Thank you

Replies (1)

CA Konfused

Chartered Accountant & CFA Level 1

302 Points Joined August 2008

Hi santosh , if your company gives you a conveyance allowance then you can claim rs 800 per month as deduction.in your case request your employer to change the nomenclature of petrol allowance to conveyance allowance .