An employee is getting 400/- pm as TRANSPORT ALLOWANCE
AS WELL AS HE IS CLAIMEIG 30 LITERS OF PETROL EVERY MONTH AS CONVEYANCE ALLOWANE (WHICH IS INCLUDED IN PERQUISITES)
PLEASE TELL HOW MUCH REBATE WILL HE GET
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Transport allowance/conveyance allowance
Replies (4)
Quick Summary
Both are not allowed.
Which allowance is tax able
both are taxable now. however, standard deduction of Rs. 50,000 is allowed to salaried individuals.
Also, rule are different under new tax regime. Can you please specify which tax regime you are talking about.
An employee cannot avail both the allowances at the same time.
All allowances are taxable everyone knows.
All allowances are taxable everyone knows.
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