Hi all. My company may reluctant to pay the paid expenses on travel. Can I ask for LTA amount taking only leave but not making any actual travel? I am ready to pay taxes on that amount.
Hi, I have an LTA option on my salary. For this my company is deducting Rs.2,000/- every month from last 8 months.Now I dont want the LTA option on my salary.when and How can i get the Rs.16,000(8*2000) ? Thanks in advance
RE:LTA
by harmayank sahai on Jan 16, 2008 05:12 PM Permalink
U will get the amount at the end of the financial cycle after tax deduction on the accumulated amount till that time.
Re: RE:LTA
by raju d on Jan 30, 2009 01:54 PM Permalink
Even My company is deductin in the same way. Thanks for the Answer 1.If the employee resign without completing 1 Yr is he eligible for LTA Exemption.
As Iam working as an accounts executive, i have a doubt regarding the LTA that my collegues are telling that there is a slab rates for LTA.
If the gross salary exceeds Rs. 1,00,000/- only we have to produce bill for the LTA. Otherwise if it is less than that there is no need to produce bill for the LTA.
If suppose a person is claiming a LTA amount of Rs. 5000/- in a year than there is no need to produce any bill for that amount.
I need clarification for the above. Kindly assist me
RE:Leave Travel Allowance
by Ashish Bochia on Nov 16, 2007 10:52 AM Permalink
No there is no such limit like Rs. 1,00,000. Any person claim LTA has to give bill supporting it other wise that income will be taxable
Is it important to claim for a "return" ticket? Can I not claim only for one way ticket? My LTA allowance is 15000Rs. I have claimed for a one way ticket that costed my more than 15000Rs. Can it be disallowed on the basis of non-submission of proof of return travel?
Incase i do not claim my LTA in the 4 year block period, can i claim it later? If yes, what is the period till which i can claim and will the reimbursement be taxable?
RE:RE:LTA Lapse
by santhosh v on Nov 14, 2007 06:59 PM Permalink
you cannot claim after the block of four years.It will be reimbursed to your salary as taxable.
Single Journey is from a place (origin) to destination and return via another route with stoppages at some places between the origin and destination. eg. Mumbai-Kolhapur-Mahableshwar-Lonavala-Mumbai Travel is by cab. How will the LTA be calculated then 1) Only journey charges (first class AC train fare) between Mumbai-Kolhapur and return-Mumbai (calculated only for one place i.e. maximum distance travelled among the places; no intermediate place considered) Or 2) First class AC train fare from Mumbai-Kolhapur, then Kolaphur-Mahableshwar and lastly Lonavala- back to Mumbai.
Have checked the LTA rules on below website, but not clear for the above case. http://www.taxmann.com/taxmanndit/dispcitation/showcit.aspx?fn=http://www.taxmann.com/DitTaxmann/IncomeTaxRules/Rules2005/Rul es002B.htm
RE:LTA calculation
by on Dec 19, 2007 07:24 PM Permalink
Hi All, I do have a similar query. Can any one reply to this query. It would be very help ful for me. Regards, Ashok K
I have travelled from Chennai to Velakanni in July 05, but not claimed for reimbursement. In Aug 06 i again travelled to Velankanni, i never claimed the same. At the time of resignation i claimed both the LTA with bills as non-taxable. But company is telling as per IT law, the person travelling consecutively for 2 years, they can give excemption to one travel only? is it correct? i can claim as non-taxable. Pls advice
Re: RE:LTA consecutive travel is taxable???
by raju d on Jan 30, 2009 02:03 PM Permalink
if i travel for more than 1 time in a year can i use this tickets and consolidate for LTA for that year
If i travel from Delhi to Mauritus but flight goes from Delhi to Bombay, Bombay to Mauritus then can i claim amount of travel from Delhi to Bombay out of LTA basket?
