Lta exemption
This query is : Resolved
Querist : Anonymous
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.
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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