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
