Hey friend,
I completely understand your confusion about ‘is transport allowance taxable’. There have been some changes in taxation of goods, services and income. To help you out, I conducted thorough research on this topic. Keep reading to know everything that I found .
Is transport allowance taxable in India ?
Until 2017, Transport Allowance of Rs. 1,600 per month was not taxable for salaried employees. This amount was tax free, any amount received more than Rs. 1600 was taxable.
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To answer your question, is transport allowance taxable ?
Yes, transport allowance paid to employees is considered to be fully taxable in India. This decision was taken by tax authorities when they reintroduced standard deduction after the financial year 2017-2018.
According to the new tax regime of FY 2018, a standard deduction of Rs. 40,000 can be claimed by a salaried employee.
This is all from my side on is transport allowance taxable.
Read more : How to transport bike from one state to another ? Which Items are Taxable Under GST? How to calculate capital gains tax?
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Authors Of The Question
Is transport allowance taxable ?
hemant
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2 Year
2022-02-25T11:35:55+00:00 2022-02-25T13:47:26+00:00Comment
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