What Is Conveyance Allowance? | Conveyance Allowance Meaning | UBS

Conveyance Allowance is also known as Transport Allowance. This allowance is offered by the company to employees as compensation for the value of traveling from residence to and from the office. This allowance is an addition to the basic salary. Mostly it is tax-free, however, it may or may not be taxed under the Income Tax Act.