Dear Seniors,
I needed some information on LTA.
I am aware that an employee can claim exemption 2 times in a block of 4 yrs.
What I was confused about is that is Lta paid every year by the company to an employee.Any more details will really be appreciated.
Regrads
From India, Thana
I needed some information on LTA.
I am aware that an employee can claim exemption 2 times in a block of 4 yrs.
What I was confused about is that is Lta paid every year by the company to an employee.Any more details will really be appreciated.
Regrads
From India, Thana
Dear Friend, upon your request I am attaching herewith brief notes on LTA policy. I am sure this will give you adequate information on this subject. Regards, Sravan
From India, Hyderabad
84From India, Hyderabad
Umpteen times discussed about LTA. You can use search option to know more details on LTA. Regards R.Ponraj
From India, Lucknow
From India, Lucknow
LTA
Dear Ayesha,
there are two things one is LTA payment made by the company secondly LTA exemption from Income TAx Department.
if the LTA is included in your CTC, you will the LTA amount every year. Some of the PSU where LTA is not included in the CTC they (employer) pay them once in every two years.
Regardin Tax exemption, you can get the tax exemption only once in the block of two years.
Hope I have communicate what you want to know.
thanks and regards,
Pranab
From India, Mumbai
Dear Ayesha,
there are two things one is LTA payment made by the company secondly LTA exemption from Income TAx Department.
if the LTA is included in your CTC, you will the LTA amount every year. Some of the PSU where LTA is not included in the CTC they (employer) pay them once in every two years.
Regardin Tax exemption, you can get the tax exemption only once in the block of two years.
Hope I have communicate what you want to know.
thanks and regards,
Pranab
From India, Mumbai
Dear Ayesha,
Some companies do give once in a year.In this case, employer show 1st year LTA as advance and after completion of 2nd year , they consider sumation of two years as LTA.
Hope your doubts are cleared.
Thanks,
Siba
From India, Pune
Some companies do give once in a year.In this case, employer show 1st year LTA as advance and after completion of 2nd year , they consider sumation of two years as LTA.
Hope your doubts are cleared.
Thanks,
Siba
From India, Pune
Dear Ayesha
I wish to bring to your notice the system prevailing in PSUs/Banks.
In some PSUs, in every four year block, which is subdivided into two-two year sub block an employee can avail
i) One LTC (Leave Travel concession) for a limited distance/to Home Town
ii) One LLTC (Liberalised Leave Travel concession) to any place in India/Home Town.
This can be availed for self and family(dependants).
However if the employee is staying alone then he will be eligible for one LTC to Home Town every year/ One LLTC and 2 LTCs in four year Block period.
Some of the Orgns are having Leave Travel Assistance/Allowance in place of LLTC wherein a lumpsum money is being paid to the employee.
To avail this the employees will be expected to utilise a certain number of days of leave/holiday/offs and submit the application after getting the same approved by his reporting officer.
Since the liability of this is spread over four year sub block provision may be made on yearly basis in the budget,
Regards
Premson.
From India, Mangaluru
I wish to bring to your notice the system prevailing in PSUs/Banks.
In some PSUs, in every four year block, which is subdivided into two-two year sub block an employee can avail
i) One LTC (Leave Travel concession) for a limited distance/to Home Town
ii) One LLTC (Liberalised Leave Travel concession) to any place in India/Home Town.
This can be availed for self and family(dependants).
However if the employee is staying alone then he will be eligible for one LTC to Home Town every year/ One LLTC and 2 LTCs in four year Block period.
Some of the Orgns are having Leave Travel Assistance/Allowance in place of LLTC wherein a lumpsum money is being paid to the employee.
To avail this the employees will be expected to utilise a certain number of days of leave/holiday/offs and submit the application after getting the same approved by his reporting officer.
Since the liability of this is spread over four year sub block provision may be made on yearly basis in the budget,
Regards
Premson.
From India, Mangaluru
LTA can availed every year provided that if the same is included in CTC (like the private cos & MNC does) & u'll not be eligible for any tax exemption every only once in 2 year of 4 yr block
If u r employed in Public Sector or Govt, u'll be reimbursed/paid LTA based on ur travel ticket in accordance with Income Tax rules.
So its purely depends on to whom u were employed & whether to avail tax exemptions or simply to hang around.......
From India, Tiruchchirappalli
If u r employed in Public Sector or Govt, u'll be reimbursed/paid LTA based on ur travel ticket in accordance with Income Tax rules.
So its purely depends on to whom u were employed & whether to avail tax exemptions or simply to hang around.......
From India, Tiruchchirappalli
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