Lta
This query is : Resolved
17 July 2013
Block: 2010-2013
FY: 2011-2012
Background: LTA was not included in Fy2011-2012 Tax claculation.
QUERY:
1) Can this LTA be reduced in the Taxable amount in FY2012-2013?
2) In which ITR schedule should this be included?
FY: 2011-2012
Background: LTA was not included in Fy2011-2012 Tax claculation.
QUERY:
1) Can this LTA be reduced in the Taxable amount in FY2012-2013?
2) In which ITR schedule should this be included?
17 July 2013
1.LTA can be claimed in the block of 4 years. since you are not claimed in 2011-12 you can claim in 2012-13.
2. LTA claim is form part of salary income only. but exempted so no need to show in ITR, you can show only taxable salary
2. LTA claim is form part of salary income only. but exempted so no need to show in ITR, you can show only taxable salary
17 July 2013
It LTA is included in the taxable salary in Form16, How should this be shown & deducted from taxable income while preparing retrn/ITR form?
18 July 2013
LTA proofs need to be submitted to employer and take exemption and ask employer to consider the LTA exemption in your taxable salary.
You cannot alone claim LTA in your return, since it is not consider in the form 16.
You cannot alone claim LTA in your return, since it is not consider in the form 16.
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18 July 2013
https://articles.economictimes.indiatimes.com/2012-01-05/news/30592978_1_lta-shortest-route-claim
The above artical say so... That why I asked the above query !!!
"If you miss out on filing a claim at your company , you can claim for this exemption at the time of filing your income-tax returns and avail of a tax refund later. But that would make it a cumbersome and longdrawn procedure"
The above artical say so... That why I asked the above query !!!
"If you miss out on filing a claim at your company , you can claim for this exemption at the time of filing your income-tax returns and avail of a tax refund later. But that would make it a cumbersome and longdrawn procedure"
18 July 2013
Allowances like HRA, Conveyance etc. can be taken,but still my view LTA need to certify by the employer. because claiming LTA you should have taken the minimum 3 days PL etc.conditions are there. so according to your wish, if you want to take in your return still you can do, how ever the proof should be ready in case of demand notice from department
18 July 2013
Leave Availed, But missed providing proof while Form16 was made.
All proofs available.
Now how & where in ITR this is entered as deduction from taxable amount.
All proofs available.
Now how & where in ITR this is entered as deduction from taxable amount.
18 July 2013
you cannot show in the ITR separately as LTA exemption. you can reduce the taxable salary to that extent and show the income
18 July 2013
Also there is no option in ITR to show LTA exemption. so reduce the taxable income and claim
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