Considering the rule for LTA as per income tax,Suppose my employer is giving the option to chose the amount for LTA to get the tax benefit without changing my annual CTC...What maximum amount I can claim for LTA. Is there any amount limit or any percentage of basic salary ?
Re: LTA limit
by varma on Apr 05, 2016 10:04 PM Permalink
The benefit of LTA can only be claimed in respect of expenses incurred for travelling be it air, rail or any other mode of transport. The expenses can be claimed in respect of expenses incurred on travelling with your family members. Family for this purpose includes your two children, wife whether dependents or not. your siblings and parents who are mainly dependent on you are also include.
