01 February 2012
conveyance / transport allowance for the purpose of office to residence is exempt u/s 10 Rs. 800 and payment during the month is less than Rs. 800 i.e.700 then how much amount is exempted u/s 10 .
01 February 2012
Do you mean to say that the amount of allowance is less than Rs. 800?
Exemption u/s 10 is minimum of actual allowance or Rs. 800/-.
So, if the actual allowance is less than Rs. 800/-, then the whole amount of allowance shall be exempt. Loss will not be computed by taking Rs. 800 as exempt.
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