Hi,
In my offer letter, it has been mentioned that LTA is 2000, however in the deductions there is a section which says LTA WITHHELD...what is that? it is in the same column as other deductions like PF Employee and Employer and Profession Tax etc..and there is nil being reflected against it.
can someone explain!
From India, Bangalore
In my offer letter, it has been mentioned that LTA is 2000, however in the deductions there is a section which says LTA WITHHELD...what is that? it is in the same column as other deductions like PF Employee and Employer and Profession Tax etc..and there is nil being reflected against it.
can someone explain!
From India, Bangalore
HI,
Leave travel allowance (LTA) is a common form of tax exemption given to the employees by most employers. Though it is quite simple, it often brings about a lot of questions among those claiming exemption on it.
LTA covers only the cost of travel for the trip. Hotel accommodation, food, etc. cannot be claimed for exemption.
LTA exemption covers you and your family. A family, under LTA, includes spouse, parents, siblings, and children. The cost of other relatives cannot be claimed.
LTA can be claimed twice in a block. The blocks are decided by government. They are 2010-2013, 2014-2017 and so on.
From India, Mumbai
427Leave travel allowance (LTA) is a common form of tax exemption given to the employees by most employers. Though it is quite simple, it often brings about a lot of questions among those claiming exemption on it.
LTA covers only the cost of travel for the trip. Hotel accommodation, food, etc. cannot be claimed for exemption.
LTA exemption covers you and your family. A family, under LTA, includes spouse, parents, siblings, and children. The cost of other relatives cannot be claimed.
LTA can be claimed twice in a block. The blocks are decided by government. They are 2010-2013, 2014-2017 and so on.
From India, Mumbai
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LTA (REDIFF).doc