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Taxability of allowances
what is diff. betn transport allowance and allowance to transport employee.
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If transport allowance is paid to employees for expenses incurred to travel to and fro from home to office and back home, then that shall be exempt upto Rs. 800/- pm. If the transport allowance is paid to employee for expenses incurred in travelling for wholly company business, then all allowance is fully exempt, and the employee shall produce bills/invoice to show the travelling expenses incurred.
Is there any limit of exemption in allowances to transport employee like 70% of salary or rs. 6000 which ever is less
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