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
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.
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
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