Income from salary-lta
This query is : Resolved
27 December 2013
Mr.x's is a employee of XYZ pvt Ltd. the form 16 issued by XYZ pvt ltd to Mr.X does not specify about Leave Travel Allowance.
However the assessee ie. Mr.x has claimed Leave Travel Allowance in his Income Tax Return for Assessment Year 2009-10.
Is the assessee correct in claiming LTA ?
or
LTA should be claimed only when it is specified in Form 16
However the assessee ie. Mr.x has claimed Leave Travel Allowance in his Income Tax Return for Assessment Year 2009-10.
Is the assessee correct in claiming LTA ?
or
LTA should be claimed only when it is specified in Form 16
Nikhil Kaushik
(Expert)
27 December 2013
Dear Pradeep,
you need to check whether the salary mentioned in Form 16 is net of LTA claim or not. Often Form 16 is issued net of LTA claim. In such a scenario, it wont appear in Form 16. Otherwise, it will reflect as an exemption under Section 10.
you need to check whether the salary mentioned in Form 16 is net of LTA claim or not. Often Form 16 is issued net of LTA claim. In such a scenario, it wont appear in Form 16. Otherwise, it will reflect as an exemption under Section 10.
Nikhil Kaushik
(Expert)
27 December 2013
so if salary is net of LTA, you need to claim it again. If it is not, then ask the employer to revise the form 16.
27 December 2013
Hi
In my view since it is LTA same has to be exempted by employer.
Thanks
In my view since it is LTA same has to be exempted by employer.
Thanks
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
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
