Conveyance Allowance Doubled: Do We Need to Update for All Employees or Just New Joiners?

Dear Fellow Members,

With the recent budget announcement, the conveyance allowance in the salary structure has been revised to INR 1600/- per month from the current 800/- per month. I request all of you to shed some light on this and confirm the date of implementation. Do we need to revise the structure for all employees, or is it only for new joiners?

Regards,
Mike

With effect from 1st April 15 or after the finance bill is passed, the CTC components can be readjusted to avail the conveyance allowance as tax-exempt.