Vishnu Prasath (Analyst) (38 Points)
08 May 2012
Hi,
I have not claimed LTA for this block yet.
This Calendar Year, I travelled twice (March 2012) and (April 2012).
Can I claim both of these as they fall in different financial years?
I understand that if I can claim these two, I will not be eligible for further claims in this block.
I am getting different answers for these questions from sources and I hope I get some clarity here.
Regards,
Vishnu
Vishnu Prasath
(Analyst)
(38 Points)
Replied 08 May 2012
| Originally posted by : CA CS Ashwin Sharma | ||
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In my opinion u can claim these lta and wnt b eligible in this block |
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Hi Ashwin,
Thanks for responding. I have few questions on the same. I hope some one of you can answer that too.
1. Since I did not claim LTA for previous financial year (2011-12), my employer has credited the LTA amount deducting tax. I hope I am still eligible to claim and I can do that during my returns.
2. How to arrive at the LTA amount eligibility?
a. For the first travel on March 2012, can I use the LTA allowance for that financial year only or can the LTA allowance from Jan 2010 can be used?
b. For the second travel on April 2012, can I consider the LTA allowance from April 2012-Mar 2013 (Projected)
Regards,
Vishnu
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 05 April 2015
CAclubindia
