What is conveyance allowance?

Question

What is conveyance allowance?

I will get certain amount of money while i getting salary as conveyance allowance.. i dont know what is this..i am a software engineer working in India in an MNC

Answer 1

It is not Income like Salary but a monetary help that facilitates your defreying travel expences from residence to Place of Work and return

Answer 2

This is limited to 1600 a month if you are in India and are using a company provided car; it is 800 per month if not.

This is the limit and the conveyance allowance that your company pays you might be higher than this; in such a case the remaining amount is taxed.

Use the tax calculator at http://www.freewebs.com/rajanpras/itcalc... for full computation.