Lta
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 February 2012
can LTA be claim in filling IT Return even if it is shown taxable in form 16?
06 February 2012
Yes, but you should have necessary supporting available with you.
06 February 2012
Yes, not only LTA, all the exemptions even if not submitted to the company for tax deduction purposes and hence not appearing in Form 16 can be claimed at the tiem of filing the Return of Income.....
Practically when you are claiming it via the company, you have to submit all the proofs with the company.....but when you are claiming it by yourself at the time of filing your Return of Income you tend to forgot to safely keep the proofs of the same....which may cause problem in the future.....hence DONT forget to file the supporting or the proofs for claiming the deduction.....
Practically when you are claiming it via the company, you have to submit all the proofs with the company.....but when you are claiming it by yourself at the time of filing your Return of Income you tend to forgot to safely keep the proofs of the same....which may cause problem in the future.....hence DONT forget to file the supporting or the proofs for claiming the deduction.....
08 February 2012
My view is differ from the experts above
LTA need to be certified by the Employer,because it includes following components
1. LTA should be paid by the employer
2. Employer has to certify you Leaves for claiming the same according to the attendance
Without those certification by the employer, even you are claiming in your return also, A.O may reject your claim
Please check with employer why it is not shown in form 16, if it is mistake ask them to correct, incase they cannot correct, atleast take certification of LTA proofs from employer and keep as records and claim
LTA need to be certified by the Employer,because it includes following components
1. LTA should be paid by the employer
2. Employer has to certify you Leaves for claiming the same according to the attendance
Without those certification by the employer, even you are claiming in your return also, A.O may reject your claim
Please check with employer why it is not shown in form 16, if it is mistake ask them to correct, incase they cannot correct, atleast take certification of LTA proofs from employer and keep as records and claim
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 2 Short Term gain & Long term gain
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR 1: Details for showing Exempt Income
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
