I work for a PSU and I have to choose perks to be given by my PSU which is 32.5% of the Basic. I have a choice between CONVEYANCE ALLOWANCE and VEHICLE MAINTENANCE ALLOWANCE both at 4% each. Which shall I choose to get Tax Exemption for the Financial year 2018-2019.
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Conveyance or vehicle maintenance allowance
Replies (4)
YOU WILL GET EXEMPTION FOR CONVEYANCE ALLOWANCE AS PER IT ACT AND AS PER RULE OF AMOUNT RECEIVED OR SPENT WHICHEVER IS LOWER WILL BE EXEMPT U/S 10(14)
https://customerservicecn.com/
DOES THAT MEAN I HAVE TO SHOW THEM RECEIPTS TO CLAIM IT EXEMPTION? CAN I SHOW THEM RECEIPTS OF PETROL USED IN MY PERSONAL CAR FOR THIS PURPOSE?
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