09 February 2013
I have received one month salary in lieu of L.T.C.(Leave Travel Concession)in the month of June 2012. How can save tax on this amount as I am a govt employee.
10 February 2013
The whole amount is taxable s it is in lieu of LTC implying thereby that it is not actalu reimbursement after spending on travvel while on leave.If you have unutilised amount under sec 80 C you can save in any tax saving plan
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