If I don't have any vehicle on mine name & I hire a taxi on monthly biases, from residence to office to perform my duty. Can I get Tax benefit as reimbursement of conveyance expenses, from my company as per IT rule?
Please advise......
And what is the processor for the same.
Regards,
Its true that any allowance granted to meet the cost of conveyance in performance of duties is exempt, but travelling to your office is not "performance of duty"
However IT Act specifically provides that any allowance granted to meet the expenditure on conveyance between place of residence to place of work is exempt upto an extent of 800 pm
(1600 for physically challanged)
agree with above 9600 p.a
I am asking for reimbursement not allowance.
CAclubindia
