Hi Arun Could you please refer any reference no. of the Supreme Court for case relating to Larsen & Toubro and ITI regarding LTA proof of Travel.
From India, Madras
2From India, Madras
Thanks Harsha
As I understand the question was " upto what limit Leave Travel Allowance is exempt from Income Tax" and answer is actual expense paid by a person on travel tickets and fulfilling other criteria and eligibility.
There is no LIMITATION on amount a company can pay its employee under Leave Travel Concession. However , amount paid to a person exceeding the actual expense is taxable in the hand of person .
From India, Mumbai
As I understand the question was " upto what limit Leave Travel Allowance is exempt from Income Tax" and answer is actual expense paid by a person on travel tickets and fulfilling other criteria and eligibility.
There is no LIMITATION on amount a company can pay its employee under Leave Travel Concession. However , amount paid to a person exceeding the actual expense is taxable in the hand of person .
From India, Mumbai
Dear Sir, For LTA and PF deductions - No limit is fixed because in IT there is a total savings limit. D.Gurumurthy LL.HR.IR Consultant, Hyderabad.
From India, Hyderabad
From India, Hyderabad
Please see the following link:
Employer has to rely on employees, if he wants to employ people and run the business - this is equally applicable for TDS matters- employer can rely on declarations of employees about reimbursements.
This has details of L&T case.
Thanks.
-Arun Talwar
From India, Delhi
Employer has to rely on employees, if he wants to employ people and run the business - this is equally applicable for TDS matters- employer can rely on declarations of employees about reimbursements.
This has details of L&T case.
Thanks.
-Arun Talwar
From India, Delhi
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EPS - Wage Limit increase_01.09. 2014.pdf
SC Judgment-No obligation to excess contribution than Statutory Limit.docx