Lta deduction

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chandan

chandan (Querist)
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31 July 2011 sir/madam

my clint as employee can he get LTA deduction if he expend two time in year

Preety Parik

Preety Parik (Expert)
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31 July 2011

The LTA tax exemption can be claimed only twice in a block of 4 years and only one travel in one year.

These blocks of 4 years are predefined by the government. These are:
2002 – 2005
2006 – 2009
2010 – 2013
And so on. These are calendar years

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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31 July 2011 Yes, In particular Block 2 times LTA can be claimed

There is carry over concession also, if the employee not claimed LTA during any of the specific 4 year block then the exemption can be claimed in the first calender year of the next block. it will not be counted in 2 exemption available in the particular block