Leave travel allowance
Querist : Anonymous
First he was travelled in 2011 and claimed Rs. 20,000/- by receiving 2 years LTA amount.
Secondly he had travelled in 2013 and claimed again Rs. 20,000/- of 2 years. So he claimed total LTA of Rs. 40,000/- during 2011 & 2013 travelling.
So is this calculation is correct.
Request your early reply.
Querist : Anonymous
Sir, my query is that whether all 4 years sum of Rs. 40,000/- is tax free if it is taken in 2 years leaves instead of 4 years leaves separately.
As per Income tax act , 2 out of 4 journeys LTA expenses are tax free and rest 2 are taxable. But suppose an employee only takes 2 leaves in 4 years but claiming all 4 years LTA as exempt.
Please clarify it.
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