An employee is getting a conveyance allowance of Rs. 500 per month .
He wants to claim @ 800/- per month . Can he?
Or should he limit to the amount he receives it is Rs. 500/- per month.
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Conv. allownce recd. @500 p.m.can he claim max.allowed@800pm
Replies (4)
Yes he can receive Conveyance Allowance of Rs. 800 per month.
Regards,
Devendra
Upto 800 pm is taxfree.
if receipt is 500, you can claim exemption of 500 only
Exemption limit is only to the extent of Rs.800 pm.
In your case, since his conv allow only Rs.500 pm, he can claim exemption f0r only Rs.500 pm and not Rs.800 pm
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