Conveyance allowance

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This query is : Resolved

seeta (Querist)

31 December 2014 Limit of conveyance allowance

what record to be maintain

In my case conveyance allowance given Rs.2000/- pm

reply on urgent

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

31 December 2014 https://incometaxmanagement.com/Pages/TAX-Planning/Salary-Perquisites/11-Conveyance-And-Transport-Allowances-Are-Completely-Exempted-From-Tax.html

refer this link

Rupesh Jain

Rupesh Jain (Expert)

31 December 2014 www.moneycontrol.com/tax/.../whatallowanceswhich-allowancesexempt

you can see the link

seeta

seeta (Querist)

31 December 2014 Sir in my case we have give extra convyane to my employee 1200 X 12=14400.00 (as exemption limit is 800/- pm)

now auditor will disallowed 14400.00 but employee has file return with conveyance allownce 2000 X 12=24000.00

employer has to pay tax on disallowed expenses?

what will happen in employee case? he is also liable to pay tax? revised return

seeta

seeta (Querist)

31 December 2014 Sir in my case we have give extra convyane to my employee 1200 X 12=14400.00 (as exemption limit is 800/- pm) now auditor will disallowed 14400.00 but employee has file return with conveyance allownce 2000 X 12=24000.00 employer has to pay tax on disallowed expenses? what will happen in employee case? he is also liable to pay tax? revised return

Guest

Guest (Expert)

31 December 2014 Why auditor will disallow the extra conveyance?? Company can give the allowance according to his agreement with employee..Only he is required to deduct TDS after 800/pm considering the part of the salary..And if employer had not deducted the TDS then employee should pay the tax considering the same.

seeta

seeta (Querist)

31 December 2014 how much tax has to pay

Guest

Guest (Expert)

31 December 2014 It differs from employee to employee..Depends on their rest of the income.Under which slab they are coming.

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