Hi,
Want to know when is LTA typically paid to an employee. For example, an employee has an LTA package of Rs. 15000 p.a. When should the employee actually get the LTA amount to him. Is it to be paid on March, at the end of the financial year, after deducting the tax for it, supporting travel bills etc. Should it be in march.
Please do let me know.
Cheers
Nikhil
From India, Madras
Want to know when is LTA typically paid to an employee. For example, an employee has an LTA package of Rs. 15000 p.a. When should the employee actually get the LTA amount to him. Is it to be paid on March, at the end of the financial year, after deducting the tax for it, supporting travel bills etc. Should it be in march.
Please do let me know.
Cheers
Nikhil
From India, Madras
LTA is paid once employee is elegible for PL/ELs and he/she avails the same, he needs to submit the travel bills along with the leave form.
Usually LTA is Tax free if paid 2wice in 4 years.
Regards,
Poonam
From India, Delhi
Usually LTA is Tax free if paid 2wice in 4 years.
Regards,
Poonam
From India, Delhi
Hi,
LTA could be paid ;
1. every month as a break up of salary, but amount considered for tax exemption will be only for the bill produced by the employee.
2. The amount could be paid during Jan/Feb/March (Helps the employee to plan for exemption)
3. The employee also can accumulate the amount for 2 years.
Regards,
Abhiman
From India, Bangalore
LTA could be paid ;
1. every month as a break up of salary, but amount considered for tax exemption will be only for the bill produced by the employee.
2. The amount could be paid during Jan/Feb/March (Helps the employee to plan for exemption)
3. The employee also can accumulate the amount for 2 years.
Regards,
Abhiman
From India, Bangalore
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