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?
Re: LTA tax exemption
by amit saraogi on Jun 08, 2009 01:37 PM Permalink
income tax act does not gives u any such restriction. it say ANY two years in a block of FOUR years. It is quite posiible that for internal contriol purpose, ur company is saying this. you need to check up with ur employer.
