LTA

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 March 2010 Pls explain the LTA calculation
and when the block of 4 years starts
what is maximum LTA that can be claimed by the employees

Thanks & Regards

Aditya Maheshwari

Aditya Maheshwari (Expert)
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26 March 2010 Last block of 4 years is 2006 - 2009
Current block 2010 - 2013 calender year

Aditya Maheshwari

Aditya Maheshwari (Expert)
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26 March 2010 As per section 10(5) in the case of an individual, the value of any travel concession or assistance received by, or due to, him,—

(a) from his employer for himself and his family, in connection with his proceeding on leave to any place in India ;

(b) from his employer or former employer for himself and his family, in connection with his proceeding to any place in India after retirement from service or after the termination of his service,

subject to such conditions as may be prescribed88 (including conditions as to number of journeys and the amount which shall be exempt per head) having regard to the travel concession or assistance granted to the employees of the Central Government :

Provided that the amount exempt under this clause shall in no case exceed the amount of expenses actually incurred for the purpose of such travel.

Explanation.—For the purposes of this clause, “family”, in relation to an individual, means—

(i) the spouse and children of the individual ; and

(ii) the parents, brothers and sisters of the individual or any of them, wholly or mainly dependent on the individual; ]

No maximum limit. It will depend upon the allowance given to the employee

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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26 March 2010 agree with expert

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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26 March 2010 agreed

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