Conveyance allowance tax exemption under section 10(14) :-  Many of us has the common assumption that conveyance allowance and transport allowances are same.Both there is difference between them.  Conveyance allowance is given to employees of the organization or company to avail any mode of transport where there is no transport provided by employee. Usually this allowance is set to 800 per month and 9600 p.a and this allowance is TAX Free and no Bills are required to claim this exemption. This allowance is under tax exemption under section 10(14).  If  the employee gets CAB facility, conveyance exemption maynot  be given to him and where he is physically handicapped, the exemption can go up to Rs.1600/- p.m. or the actual allowance received whichever is less.

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If the company is providing the cab facility , exemption cannot be claimed.

Difference between Conveyance allowance and Transport Allowance :-

Transport allowances commonly known as Conveyance allowance is exempt u/s 10(14) . Please refer RULE 2BB for more information. Transport allowance is given to employee by company to provide flexibility and ease to employee to commute to office and from office to home.  If the employee is physically challenged (blind/handicapped) this exemption can be raised to Rs.1600 also.

 

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