How much amount is exempted under Conveyance allowance? is it Rs.800/- or is it Rs.1,600/- per month .
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Conveyance allowance
Replies (4)
Dear ramakrishnaraju,
In Income Tax Act -
1) Transport Allowance - For commuting between Residence & place of work -
Lower of the following is exempt -
a) Amount Received
b) Rs. 800/month (In case of Blind/Handicapped Employees - Rs. 1,600/month)
Now in this case actual expenditure is irrelevant, no need to collect bills/undertaking from employees..
2) Conveyance allowance - For performing official duties
Lower of the following is exempt
a) Amount received
b) Amount Spent on performing duties
Now, in this case employer should collect proof of expenditure like bills/undertakings,etc
amir is right.............
Yes Mr.Amir is right....
Conveyance Allwoance...
Official purpose - exempt..
Private Purpose - Taxable...
Transport Allowance...
Amount exempt is Rs.800/month or Actually received whichever is lower...
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