Dear All, Can we give certain Sr. Employees a standard Conveyance allowance of 800 & then 1500/- as petrol reimbursement against bill? Will this create any issue or it is OK to give.
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If the 1500/- is given against petrol bills then i dont think it will be considered as taxable income. However it s suggested to prepare reimbursement slip apart from Salary Slip where all the reimbursements (the amount paid against bills).
Arti
From India, Ahmadabad
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Arti
From India, Ahmadabad
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Dear All,
What i meant by incentive was that it will be a attraction to my seniors that apart from the usual travel allowance they have the facility of reimbursing 1000 or 1500 Rs/month against proper Petrol bills. This reimbursement will not be reflected in the salary slip and will in separate reimbursement slips.
So With my explanation and your answers i will take it as a Yes, that i can give conveyance allowance which will be reflecting in the salary slip. and petrol reimbursement which will in separate slip and only payable against bills.
Thanks.
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What i meant by incentive was that it will be a attraction to my seniors that apart from the usual travel allowance they have the facility of reimbursing 1000 or 1500 Rs/month against proper Petrol bills. This reimbursement will not be reflected in the salary slip and will in separate reimbursement slips.
So With my explanation and your answers i will take it as a Yes, that i can give conveyance allowance which will be reflecting in the salary slip. and petrol reimbursement which will in separate slip and only payable against bills.
Thanks.
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(Fact Check Failed/Partial)-The user's reply is incorrect. According to tax laws, petrol reimbursement should be supported by bills and should be part of the salary slip, not a separate reimbursement slip.
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respected sir, please give the proper procedure of settlement of t.a and d.a according to structure like top to bottom
From India
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From India
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(Fact Check Failed/Partial)-The user reply lacks clarity on the specific topic of conveyance allowance and petrol reimbursement. Please refer to the organization's policy for a structured T.A. and D.A. settlement procedure.
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- The way you have explained, it is nothing but additional income to employees. You are paying Rs. 800 as Allowance and some more amount as Petrol Reimbursement. Hence though you are calling it reimbursement it is nothing but a allowance and it needs to be taxed.
- Please consult your Tax Consultant before finalizing this arrangement. He may push you to the right side of law by doing some jugglery.
- Petrol Reimbursement paid for commuting between home and office can not be Tax Free. You may show this as Reimbursement Of Petrol Expenses for official work like visiting vendors, suppliers, customers etc. But such Petrol Reimbursement Claim needs to be supported by statement containing date-wise details such as place visited, Kilometers traveled, purpose of visit etc. and it can not be uniform fixed amount everymonth, as it will logically depend upon actual travelling.
From India, Pune
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(Fact Checked)-The user's reply is correct regarding the taxation implications of providing conveyance allowance and petrol reimbursement. However, it is essential to ensure that the petrol reimbursement is for official work and supported by proper documentation. (1 Acknowledge point)
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1. As per Income Tax rules payment of Rs.800/- per month as conveyance allowance with salary is exempted from Income Tax.
2. Employer can give any amount to employee as reimbursement, subject to certain conditions and company policies.
if the amount is given as Allowance it will be taxable.
Best wishes,
From India, New Delhi
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2. Employer can give any amount to employee as reimbursement, subject to certain conditions and company policies.
if the amount is given as Allowance it will be taxable.
Best wishes,
From India, New Delhi
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(Fact Check Failed/Partial)-The information provided is mostly accurate. However, it's essential to clarify that conveyance allowance is taxable as per current regulations. Best wishes.
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Dear Hilmesh
Conveyance allowance of Rs 800/- per month is exempted from Income Tax. If your senior employee is entitled for a vehicle facility as per policy, you may reimburse petrol expenses. Then you should not pay conveyance allowance .Both these reimbursements can not be availed by an employee.
Chandrakant
From India, Mumbai
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Conveyance allowance of Rs 800/- per month is exempted from Income Tax. If your senior employee is entitled for a vehicle facility as per policy, you may reimburse petrol expenses. Then you should not pay conveyance allowance .Both these reimbursements can not be availed by an employee.
Chandrakant
From India, Mumbai
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(Fact Checked)-[response] (1 Acknowledge point)
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I would like to ask that under which section can we claim the motor vehicle fuel and maintainance expenses?
Also can a person claim such exemption when the vehicle is registered in the name of his father when the registered owner of the vehicle (the father in this case) is not claiming such exemption but is only claiming exemption of rs.800pm as conveyance.
Thank you in advance.
From India, Haldia
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Also can a person claim such exemption when the vehicle is registered in the name of his father when the registered owner of the vehicle (the father in this case) is not claiming such exemption but is only claiming exemption of rs.800pm as conveyance.
Thank you in advance.
From India, Haldia
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(Fact Checked)-The claim for motor vehicle fuel and maintenance expenses can be made under Section 10(14) of the Income Tax Act, 1961. The ownership of the vehicle doesn't affect the claim if expenses are incurred for official purposes. The individual can claim the exemption even if the vehicle is registered in the father's name. Thank you for your query. (1 Acknowledge point)
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- You may claim and employer may reimburse also. But it is not tax exempt. It needs to be added in Taxable Income. In case any employer is not adding it in Taxable Income then it is nothing but evasion of tax.
From India, Pune
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(Fact Check Failed/Partial)-The information provided is partially correct. Conveyance allowance and petrol reimbursement are taxable. Section 10(14) provides exemptions for conveyance allowance up to Rs. 1,600. Vehicle ownership doesn't affect tax treatment.
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Sub - what is a ta in a salary . Does this ta include 1. Travel from residence to office 2. Travel from residence to office & other office requirement kindly advice rakesh kumar
From India, Kochi
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From India, Kochi
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(Fact Checked)-The term "TA" typically refers to Travel Allowance in a salary, covering travel expenses for work-related commutes. It can include both office commutes and other work-related travel. (1 Acknowledge point)
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Proposed Reimbursement of Petrol & Diesel Expenses Policy.doc
CiteHR.AI
(Fact Check Failed/Partial)-The user's reply is partially correct. While petrol reimbursement is not taxable, it's crucial to maintain proper documentation like reimbursement slips. However, the conveyance allowance of 800 may be subject to tax implications.