Leave Travel Allowance
This query is : Resolved
Rahul Rana
(Querist)
16 December 2008
Hello Expert,
Th organisation pays Rs 650/month as Leave travel allowance to the employee and is included for calculation of tax for salary income.
What is the maximum LTA exemption to be availed by the employee from income tax?
Can the employer allow the exemption and reduce from TDS.
Will it be included in Form 16 issued by employer in this case?
Thanks
Th organisation pays Rs 650/month as Leave travel allowance to the employee and is included for calculation of tax for salary income.
What is the maximum LTA exemption to be availed by the employee from income tax?
Can the employer allow the exemption and reduce from TDS.
Will it be included in Form 16 issued by employer in this case?
Thanks
CA Tilak Raj Sharma
(Expert)
16 December 2008
LTC (Sec. 10(5) - There is no limit on the exemption amount. Exemption amount is the actual expenditure incurred by the assessee and exemption cannot exceed the LTC amount (650x12=7800 in your case).
Second only 2 journeys in block of 4 years are exempt.
Second only 2 journeys in block of 4 years are exempt.
CA Tilak Raj Sharma
(Expert)
16 December 2008
Yes, it will be included in the Form 16 in both case whether taxable or exempt.
CA Tilak Raj Sharma
(Expert)
16 December 2008
If the amount is exempt in your case then employer can adjust TDS accordingly.
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- 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
- Goods sold but invoice not issued
- 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
