Recently, CBDT has issued a 6th Amendment regarding doubles exemption limit of conveyance allowance. This 6th Amendment is takes place in Rule 2BB and effected from 1st April, 2015.
In the Income-tax Rules, 1962, in rule 2BB, in sub-rule (2), in the Table,-
- against serial number 10, in the entry under column(4),relating to the extent to which allowance is exempt, for the letters, figures and words “Rs.800 per month”, the letters, figures and words “Rs.1600 per month” shall be substituted;
- against serial number 11, in the entry under column (4),relating to the extent to which allowance is exempt, for the letters, figures and words “Rs.1600 per month”, the letters, figures and words “Rs.3200 per month” shall be substituted.
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