Eligible Amount for LTA
This query is : Resolved
24 February 2010
Company pays LTA every month say around Rs. 2000/- per month along with salaries (part of CTC) and recovers tax on the same. When employee submits the bills, tax exemption will be given.
Now the question is suppose an employee has not claimed LTA in the current block earlier and wants to claim say around Rs. 50,000/-, can he claim the full amount? whereas for this financial year he has actually received only Rs. 24,000/-.
Now the question is suppose an employee has not claimed LTA in the current block earlier and wants to claim say around Rs. 50,000/-, can he claim the full amount? whereas for this financial year he has actually received only Rs. 24,000/-.
24 February 2010
He can claim only that portion what he received during this F.Y. (sec 10(5)).
Regards!!!
Dinesh S. Adhikari
Regards!!!
Dinesh S. Adhikari
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Not able to file ITR
- FEMA regulation Act. for inward remitance
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
