03 October 2008
If LTA is due when claim is made by the employee. Then what would be the situation when claim was made in March but amout receiced in April. Further, if LTA is to be made taxable only on receipt by the employee, the legislature would not have used word " received or due".
03 October 2008
In case of salary it is taxable only on payment basis like bonus,arrear,advance etc. LTA is also the part of salary. So it will be taxable only in the year of receipt.
03 October 2008
Since LTA is paid in April even though bills were sumbitted in the month of March, the LTA amount will be considered only for the FY starting with April (the month in which bills were submitted).
03 October 2008
Since LTA is paid in April even though bills were sumbitted in the month of March, the LTA amount will be considered only for the FY starting with April (the month in which bills were submitted).
03 October 2008
Since LTA is paid in April even though bills were sumbitted in the month of March, the LTA amount will be considered only for the FY starting with April (the month in which bills were submitted).
03 October 2008
the LTA becomes due only when the claim regarding the same is made by the employee, unlike normal salary which is paid to the employee. hence when the employee makes the claim it becomes due.
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