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LEAVE TRAVEL ALLOWANCE

This query is : Resolved 
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(Querist)
28 April 2008 suppose employee joined on 1 dec.his LTA for financial yr 2007-08 is Rs. 40000.Employee gave the bills of Rs. 19634 for March.hia share of LTA with present employer being Rs. 13444 was given to him and the same was considered exempt from tax.Now. for financial year 2008-09, again his LTA is Rs. 40000.What is the tax liability if the employee has not claimed any exemption in block 2006-09 except in march 08 as given above?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
28 April 2008 The full LTA will be taxable.
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