Multiple Choice Questions on Transport allowance given by the employer to the employee is exempt up to hellip hellip hellip ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Transport allowance given by the employer to the employee is exempt up to hellip hellip hellip ........

Finance (Phase -I & II) Public Finance The union budget
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    Transport allowance given by the employer to the employee is exempt up to ……….. 

    Rs.1000p.m

    Incorrect Answer

     Rs.1600p.m 

    Correct Answer

    Rs.1000p.a 

    Incorrect Answer

    Rs.1600p.a

    Incorrect Answer

     Rs.800p.m 

    Incorrect Answer
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    Explanation:

    The conveyance allowance exemption limit is Rs. 1600 per month (Rs. 19200 per year). Any amount paid above the conveyance allowance limit is charged to tax under the head Income from Salaries.

    By: Vikas Goyal
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