IS LTA TAXED
This query is : Resolved
CA Chaitanya
(Expert)
30 December 2008
Ya it is taxable.
CA Chaitanya
(Expert)
30 December 2008
Amount spent by shortest route is exempt and the balance amount will be taxable.
31 December 2008
For further details pl refer section 10(5) of the Income Tax Act,1961 read along with rule 2B of the Income Tax Rules,1962. Web site is www.incometaxindia.gov.in
CA Tilak Raj Sharma
(Expert)
31 December 2008
Amount spent by you are emempt and balance is taxable. Please refer section 10(5) of IT Act 1961 to know more details.
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