conveyence allow.
This query is : Resolved
10 August 2010
sir,
plz guide me how much taxable amt. in below figure ??????
a person gets tansport allownce rs. 800 p.m which is exempted & conveyence allowance Rs. 5000/- p.m. than how much amt. will be exempt in conv. allowance ?
as i know :- exemption will be following:-
AMOUNT RCVD OR AMT. EXP.
WHICHEVER IS LESS WILL BE EXEMPT .
IS THIS RIGHT ?????????
PLZ GUIDE ME
plz guide me how much taxable amt. in below figure ??????
a person gets tansport allownce rs. 800 p.m which is exempted & conveyence allowance Rs. 5000/- p.m. than how much amt. will be exempt in conv. allowance ?
as i know :- exemption will be following:-
AMOUNT RCVD OR AMT. EXP.
WHICHEVER IS LESS WILL BE EXEMPT .
IS THIS RIGHT ?????????
PLZ GUIDE ME
10 August 2010
Conveyance allowance is fully exempt u/s 10(14).
It should be used by the employee in conveyance for official purposes.
It is taken for granted that the amount is fully used up.
still wait for more replies...
It should be used by the employee in conveyance for official purposes.
It is taken for granted that the amount is fully used up.
still wait for more replies...
10 August 2010
Transport allowance is exempted Rs.800 or actual allowance which ever is lower
Conveyance allowance is exempted only if it is provided for meet the offical and business purpose otherwise fully taxable
please refer this circular
Circular : No. 764, dated 20-2-1998
Circular: No. 196 [F. No. 275/29/76-ITJ], dated 31-3-1976.
Conveyance allowance is exempted only if it is provided for meet the offical and business purpose otherwise fully taxable
please refer this circular
Circular : No. 764, dated 20-2-1998
Circular: No. 196 [F. No. 275/29/76-ITJ], dated 31-3-1976.
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