Please Help: Conveyance allowance to Manager
Posted Date : 04-May-2012 , 11:39:42 am | Posted By: Sourabh Mehra
Category :
Income Tax | Answers :
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Comments :
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If co. is providing car to the manager, then whether it can mention conveyance allownace in salary break-up of that manager |
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Answers:
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 Answer by: Vikash Kumar Jha |
| People who have opted out of transport facility are getting conveyance allowance. As per income tax act sec.10(14) says following allowances are taxed as follows
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| Answer by: Rishabh Upadhyay |
| Allowances are monetary considerations paid to employess for specified categories. Providing a car to the manager is a perk and not an allowance. And hence can not be mentioned in salary
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| Answer by: CA. SURESH Kr. AGARWAL |
| Dear providing car facility is a perks not allowance. As per income tax the same facility is not included in the salary and it will not be taxable.
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| Answer by: Rambabu Senkarasetti |
| yes. it is part of salary
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| Comments |
| Posted By : VISHWAS MALIK |
05-May-2012, 11:19:34 |
| The car is given by the company to manager as perks not an allowance so, conveyance allowance is given to the manager in salary. |
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| Posted By : Riddhi |
04-May-2012, 12:51:07 |
| As per my opinion,the above case comes under perquisites and not allowance.Since company is giving facility and the lumpsum amount in which assessee can deal on their own. |
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