Lta
This query is : Resolved
18 February 2014
I have getting LTA for the year 2013 for Rs. 7000/- & and for the year 2014 Rs. 7000/- cumulatively in the year 2014.
I had not taken any LTA tax exemption for last 4 years.
Can I get tax exemption for 2 years cumulatively this year?
I had not taken any LTA tax exemption for last 4 years.
Can I get tax exemption for 2 years cumulatively this year?
18 February 2014
1. LTA exemption comes into play in the year in which the LTA amount is received.
Since the amount has been received in the year 2013-14 exemption will be allowed in the year 2013-14 only.
2. You can avail LTA exemption of 2 years cumulatively.
Since the amount has been received in the year 2013-14 exemption will be allowed in the year 2013-14 only.
2. You can avail LTA exemption of 2 years cumulatively.
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