What do you meant by allowance?

What do you meant by allowance?

An allowance is an amount of money given or allotted usually at regular intervals for a specific purpose. In the context of children, parents may provide an allowance (British English: pocket money) to their child for their miscellaneous personal spending.

What is meant by daily allowance?

Daily Allowance . ... Daily Allowance means an allowance granted to a Government employee for each day of his absence from headquarters, which is intended to cover the ordinary daily expenses incurred by a Government employee in consequence of such absence.

What is the difference between salary and allowance?

As verbs the difference between salary and allowance is that salary is to pay on the basis of a period of a week or longer, especially to convert from another form of compensation while allowance is to put upon a fixed allowance (especially of provisions and drink); to supply in a fixed and limited quantity.

Are allowances taxable income?

While all pays are taxable, most allowances are tax-exempt. The primary allowances for most individuals are BAS and BAH, which are tax-exempt. Conus COLA is one allowance that is taxable. A law change mandated that every allowance created after 1986 would be taxable.

What does "allowance" mean?

• that which is allowed; a share or portion allotted or granted; a sum granted as a reimbursement, a bounty, or as appropriate for any purpose; a stated quantity, as of food or drink; hence, a limited quantity of meat and drink, when provisions fall short Etymology: [See Allowance, n.]

What is the best definition of an allowance?

• An allowance is an amount of money given or allotted usually at regular intervals for a specific purpose.

What does allowances mean?

• allowance(noun) an amount allowed or granted (as during a given period) "travel allowance"; "my weekly allowance of two eggs"; "a child's allowance should not be too generous". allowance(noun) a sum granted as reimbursement for expenses. allowance, adjustment(noun) an amount added or deducted on the basis of qualifying circumstances.

What is the definition of allowance?

• Allowance is defined as a specific amount of something available for use. An example of an allowance is the specific amount of money a woman sets aside for her shopping spree, knowing she can’t go over budget. The definition of allowance is the lowering of an original price.