Allowances mean anything that is allowed or permitted, particularly within a set of rules, definitions, or regulations. It also means any amount paid to any individual or household regularly for covering requirements.
The definitions of allowances include the following:
1. Any amount given to cover expenditure of any individual or household.
2. Any sum given as reimbursement for costs of living and other expenditure.
3. Any portion/share which is granted.
4. Anything that is permitted within a set of regulations, i.e. baggage allowance, food allowance, etc.
5. Accepting something due to any circumstance.
6. Allowing any activity or something else.
By allowances, we mean monthly allowances given by local authorities for public housing. These are known as utility allowances. Housing allowances are also amounts paid by companies and corporations for their employees in order to fund local housing rentals/leases. House rent allowances are given by employers in India for this purpose. Vacancy allowances come into play, whenever any rental unit in real estate forecasts its expectations of future cash flows. Sales allowances are any discount to the sales price of property for attracting buyers.
