Can anyone explain about the perqusites mainly HRA and Conveyance allowance and how we can take exemptions in Tax in f.y 2009-10 ?
please help
FATEMA
(CHARTERED ACCOUNTANT)
(719 Points)
Replied 13 November 2009
1.Conveyance allowance is granted to meet the expenditure on conveyance in performance of duties of an office.
Maximum amount exempt from tax is to the extent the allowance is used for the performance of duties of an office.
EXPENDITURE FOR COVERING JOURNEY BETWEEN OFFICE AND RESIDENCE IS NOT TREATED AS EXPENDITURE IN PERFORMANCE OF OFFICIAL DUTY.IT IS CALLED TRANSPORT ALLOWANCE AND RS. 800 PER MONTH IS EXEMPT FROM TAX.
2.HRA
The least of the following is exempt from TAX:
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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