Leave Travel Allowance
This query is : Resolved
06 November 2008
Dear all,
What is the maximum amount an employer can give as LTA to the employee. Please guide me if it has to be calculated as a percentage of basic salary.
What is the maximum amount an employer can give as LTA to the employee. Please guide me if it has to be calculated as a percentage of basic salary.
06 November 2008
There is no statutory limit. If you want to work out the exemopted amount, then take the farthest place in India from the work place ascertain the second AC train fare and take the family members as four. Multply fare by the number of members and estimate the LTA.
06 November 2008
Thanks Sir,
Can I also consider air travel for LTA to make it sizeable
Can I also consider air travel for LTA to make it sizeable
07 November 2008
You can, but what is allowable, for tax purposes, is only telescopic Second A.C fare of train.
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