Hi,
I have received an offer where it states that conveyance reimbursement is 88000 pa.
I understand 9600 of this is tax free. My questions
a. Is this a monthly component/yearly?
b. If I produce bills, will this amount be entirely exempted.?
From India, Mumbai
I have received an offer where it states that conveyance reimbursement is 88000 pa.
I understand 9600 of this is tax free. My questions
a. Is this a monthly component/yearly?
b. If I produce bills, will this amount be entirely exempted.?
From India, Mumbai
Conveyance allowance taxability is covered under the Income Tax Act 1961 & 800/- p.m. is exempted without producing any bill.
In my view, anything over & above 9600 p.a. is taxable in your hands, irrespective of whether u produce bills or not.
From India, Mumbai
118In my view, anything over & above 9600 p.a. is taxable in your hands, irrespective of whether u produce bills or not.
From India, Mumbai
If it is part of salary then apart from 9600/- entire amount will be taxable, but if it is not a part of your salary and is given as conveyance for official work related the expenses will be booked by the company and will not be taxable under your income as you are reimbursing against official conveyance by producing bill
From India, Ahmadabad
From India, Ahmadabad
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