Conveyance allowance

[Sangeetha D]

If a taxpayer received conveyance allowance. First the Conveyance allowance is added to the salary and we can take exempt up to the spend Amount. In Form16-part B under Section 10(14) no exempt amount was mentioned. While filing Income tax can i take this Exemption.

 

AI Summary

Taxpayers Can Claim Conveyance Allowance Exemption Under Section 10(14) with Proper Expense Documentation and Verification A taxpayer inquired about claiming conveyance allowance exemption under Section 10(14) when not reflected in Form 16. The response confirmed that exemption can be claimed if the allowance was specifically for official duties and actual expenditure can be substantiated through documentary evidence like expense logs, fuel bills, or duty registers. Proper documentation is crucial for potential tax scrutiny.