LTA

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2010 Dear Sir,

LTA for block of 2006- to 31 st dec 2009 not used by me. In the Financial year 2008-09 I Was taxed LTA of Rs 40000.00 ( Amount received, no expenditure was incured by me), During Financila Year 2009-10, I have received LTA of 50000.00 adn performed journey of Rs. 90000.00. Now My qtn is that what would be the amount of LTA Exempted for the financial year 2009-10. Whether I would be able to claim LTA taxed in Fiancial year 2008-09.

Regards and Thanks

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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21 July 2010 If such travel concession or assistance is not availed by the Individual during any such block of four calender years, an amount in respect of the value of the travel concession or assistance, if any, first availed of by the individual during first calender year of the immediately succeeding block of four callender years shall be eligible for exemption.

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2010 Dear Sir,

Please tell me the aamount of exemption. I mean it will be 90000 or 50000 only