LTA
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 July 2010
My employer gave me Rs.40000 as LTA which was taken as perquisites.
Out of the said amount, I incurred Rs.12000 towards traveling to my native.
Am I eligible to get any deduction for the 12000 which I have spent since it is not income for me, but has been added by employer as income in my Form 16
Urgent
Out of the said amount, I incurred Rs.12000 towards traveling to my native.
Am I eligible to get any deduction for the 12000 which I have spent since it is not income for me, but has been added by employer as income in my Form 16
Urgent
CA. Pradeep Nayak
(Expert)
26 July 2010
1. You can get LTA only if you have applied for leave from your company and have actually traveled. However, international travel is not valid. You must have traveled within the country.
2. The entire cost of the holiday is not covered. Only the travel costs are covered. So, whether you fly, hop on to a train or take public transport, you will have to show the ticket to claim your LTA.
So, if you have not claimed your LTA by giving proper supprtings, you will not get any tax benefit.
2. The entire cost of the holiday is not covered. Only the travel costs are covered. So, whether you fly, hop on to a train or take public transport, you will have to show the ticket to claim your LTA.
So, if you have not claimed your LTA by giving proper supprtings, you will not get any tax benefit.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
