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May 24, 2024 · Conveyance allowance (also known as transport allowance) is a special allowance companies provide to their employees to cover their expenses while travelling to and from their workplace. They are usually offered on top of their basic pay and are applicable for tax deductions up to a certain limit.
Also known as transport allowance, conveyance allowance is offered to the employees of the company to compensate for the travel of the employee from the residence to and from the workplace. This is in addition to the basic salary component and may or may not be taxed under the Income Tax Act.
Defining Conveyance Allowance. The allowance is paid to an employee to compensate for the travel they have to undertake from their residence to the workplace. The amount payable as an allowance depends on how far an employee has to travel, and the modes of transportation used.
2 days ago · Conveyance Allowance, also called Transport Allowance is a type of allowance offered to employees of a company to compensate for their travel from residence to and from respective workplace location.
Conveyance allowance in salary is paid by the employer to employees for travelling from their home to the workplace and vice versa. It is also known as transport allowance which, in general, means an allowance paid for the purpose of transport.
Conveyance allowance is an employer’s allowance to meet employees’ transport expenses between home and work. The allowance usually suits the needs of those who travel long distances to reach workstations or use their vehicles for jobs.
Oct 24, 2024 · Conveyance allowance is allowance offered by employers to cover the cost of travelling from home to the workplace. It is offered by companies that do not provide transportation facilities. It falls under the purview of CBDT (Central Board of Direct Taxes).
Sep 12, 2024 · One of the major allowances is the Conveyance allowance which pays for the commuting of the employees. To understand the conveyance allowance in detail continue reading this article, where we discuss the conveyance allowance meaning, tax exemptions, criteria, and calculation of Conveyance allowance.
Sep 4, 2024 · Conveyance allowance meaning. Employers give conveyance allowance to employees to cover travel expenses that employees incur while performing office duties within the city. Its purpose is to refund expenses for fuel, public transportation fares and other travel-related costs.
Jan 3, 2024 · Conveyance allowance or transport allowance is given by the company or an employer to the employees to compensate them for the expenses of their commute between their residence and the workplace. Let’s learn more about conveyance allowance and how the exemption works.
