Lta deduction
This query is : Resolved
24 June 2012
1. If Journey in undertaken in May 2012, when to claim LTA benefits...whether in Return filed for AY 2012-13 or in the return filed for Ay 2013-14.
If LTA amount is taken as Taxable income in returns filed during earlier year and now If I want to claim benefits for journey taken during current year then can I take benefits of LTA deduction from amount shown as taxable income during previous years.
Regds
Chintan
If LTA amount is taken as Taxable income in returns filed during earlier year and now If I want to claim benefits for journey taken during current year then can I take benefits of LTA deduction from amount shown as taxable income during previous years.
Regds
Chintan
24 June 2012
When the assistance is being received it becomes taxable in that particular year only. So you have to consider it for AY 2013-14.
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You can not go behind.
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You can not go behind.
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