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Lta exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 November 2012 Is there any limit to the amount of exemption for LTA under the income-tax act? In one article a limit of Rs. 20K is stated as the maximum LTA exemption available.
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Amol S Joglekar

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Amol S Joglekar (Expert)
12 November 2012 No limit as such. Block of 4 years is the limit. REASONABLENESS is always a limiting factor. One may not have salary 500K and LTA 1000K or something like that.
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