Tax Exemptions for Conveyance and Child Education: Can Anyone Clarify the Limits?

Hi,

Could you please provide me with the maximum tax exemption amounts for conveyance, child education, etc.? It would be greatly appreciated if someone could give a clear idea of the same.

Thanks in advance.

Deepa

Hello,

How do you calculate overtime, and when should overtime be calculated - after half an hour or one hour?

Hello Deepa,

Please see the attached for the details you are looking for. Let me know if you need any further clarifications.

Thanks and Regards,
Ayona

Maximum conveyance exemption you can give to an employee is Rs. 800 p.m, and if the employee is physically handicapped, an exemption can be given at Rs. 1600 p.m.

For educational expenses, starting from the financial year 2005-06, it got vanished and observed along with the tuition fees under section 80ccc.

Regards,
Uma Shankar Prasad K.V.

Hello Deepa,

There is no such thing as a maximum limit for LTA. I am attaching another document file; you will get to know in detail about LTA. You can log onto indiataxes.com to understand the tax implications.

Thanks and regards,
Ayona