The scenario is: A Company pays the LTA each year with the salary.
Question: In a block of 4 years, can I submit bills to get tax exemption in any two years? The reason for asking this question is the company says I can claim tax benefit only on 2nd & 4th year. Is it true? In 2006-2009 block, I got tax exemption for calendar year 2006. I travelled in 2007 and I have all the bills ready. The company says that I can't claim tax exemption for the two consequtive years. If i travel on 2008 that I can use for LTA tax exemption.
P.S. The company accepted the bills for 2006. This clearly goes against the logic it raised. But still they are saying that I can not!
