Is there any difference between transport allowance and conveyance Allowance undet IT Act.
Transport Allowance is exempt upto 800 per month, then what about conveyance allowance?
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Difference between travelling & conveyance allowance
Replies (2)
travelling allowance means allowance given to the employee to reach office from his house. This is exempt at Rs.800 per month.
Conveyance is something like a reimbursement. If the employee has to move around a lot and incurrs cost towards petrol, toll, parking, refreshments etc and the same is reimbursed by the company in a fixed or on basis of as you incurr, then to the extent the bills are produced conveyance would be exempt.
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