Have two questions here & looking for guidance on same:
Conveyance exemptions: Earlier conveyance / transport allowance was exempted up to Rs. 1,600/- pm which was discontinued after introduction of standard deduction. Whether this exemption is allowed for FY 2021 for those who have opted for new tax regime.
LTA exemption for FY 2021:
Recently LTC Cash Scheme was introduced for government employees. Whether the same is allowed for private sector employees as well? If yes, can we have details for the same along with appropriate notifications to communicate with employees.