Lta income tax exemtion

shibsankar (Asst. Manager - Accountants)   (119 Points)

27 April 2016  

Dear All,

My Company Provide LTA to every Employee which is included in salary package.

My Quary is what is the tax exemtion limit on the same?

For example, my compnay provide Rs.1 Lac per year as LTA to one of our Employee.

Will this entire amount be considered as tax exemted?

Thank you so much in advance.