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Difference between travelling & conveyance allowance

Tax planning 19412 views 2 replies

 

Is there any difference between transport allowance and conveyance Allowance undet IT Act.

 

Transport Allowance is exempt upto 800 per month, then what about conveyance allowance?

 

 

Replies (2)

travelling allowance means allowance given to the employee to reach office from his house. This is exempt at Rs.800 per month. 

Conveyance is something like a reimbursement. If the employee has to move around a lot and incurrs cost towards petrol, toll, parking, refreshments etc and the same is reimbursed by the company in a fixed or on basis of as you incurr, then to the extent the bills are produced conveyance would be exempt.

How to Take Claim in ITR, if its not mentioned in form 16 b U/S10


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