LTA Claim
This query is : Resolved
19 March 2009
An Employee who travelled in Nov 08 and Jan 09, wishes to claim his LTA for both these travels as he did not claim any LTA earlier. Can he claim both these in the FY 2008-09 since both these travels occur in the same F.Y., but, in different calender years, if the LTA Allowance suffice the total of two trips?
19 March 2009
Block-period Exemption is available in respect of 2 journeys performed in a block of 4 calendar years commencing from 1st January 1986.
for the A.Y. 2010-11(P.Y. 08-09
), the relevant block is Jan 2006 to Dec 2009 and Jan 2010 to Dec .2013.
so he can not claim exemption of both the journey in FY 08-09(AY 09-10).
however he can use Carry-forward facility
as the carry forward facility, where concession is not availed during the preceding block (whether on one occasion or both), then any one journey performed in the first calendar year of the immediately succeeding block will be additionally exempted (i.e. not counted in two journey limit).
so if the person has made only one journey during the previous block(Jan 2006 to Dec 2009), he can use carry forward facility and claim exemption. he can claim exemption for journey made in 2008 under carry forward facility and for journey made on 2009 under normal LTC .
regards................!
for the A.Y. 2010-11(P.Y. 08-09
), the relevant block is Jan 2006 to Dec 2009 and Jan 2010 to Dec .2013.
so he can not claim exemption of both the journey in FY 08-09(AY 09-10).
however he can use Carry-forward facility
as the carry forward facility, where concession is not availed during the preceding block (whether on one occasion or both), then any one journey performed in the first calendar year of the immediately succeeding block will be additionally exempted (i.e. not counted in two journey limit).
so if the person has made only one journey during the previous block(Jan 2006 to Dec 2009), he can use carry forward facility and claim exemption. he can claim exemption for journey made in 2008 under carry forward facility and for journey made on 2009 under normal LTC .
regards................!
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
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Value of property in capital gain
- Multiple trade mark
- Transporter Declaration form
- Copyright software
- TDS APPLICABILITY......
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
