Leave travel allowance

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Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2014 Is LTA taxable if i get a fixed percentage of my basic salary as allowance

Nikhil Kaushik

Nikhil Kaushik (Expert)
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28 February 2014 any LTA received over and above the amount for which was spent for the trips entitled under the LTA is taxable. It doesnt matter how it is paid to you, the relevant issue is the amount actually spent on leave travel.

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2014 But i have read dat fixed LTA is fully taxable in the hands of emloyees

Nikhil Kaushik

Nikhil Kaushik (Expert)
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28 February 2014 would be great if you could share the said document. Would be helpful

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2014 Taxmann's Direct Taxes by Dr. Vinod K. Singhania and Dr. Kapil Singhania (Para 52.7)

Nikhil Kaushik

Nikhil Kaushik (Expert)
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28 February 2014 I dont carry singhanis with me. would be great if you share the text here. Regardless, as long as you are able to submit expense proof for the travel for two trips during the block of four years, you can claim exemption

Querist : Anonymous

Querist : Anonymous (Querist)

28 February 2014 Ohkk. . Thank you soo much

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