I have deduction of conveyance allowance Rs 30,000 u/s 10 14 (i). as a exemption
I have deduction of conveyance allowance Rs 30,000 u/s 10 14 (i). as a exemption
Conveyance Allowance (also known as Transport Allowance) is provided by employer to employee for meeting employee transportation cost from residence to workplace. It is exempt upto Rs.19,200 per annum (Rs.1600/month) under Sec 10 of the Income Tax Act.
Please do remember that you can not claim the same at the time of filing your return of income if your employer has not provided you the same.
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