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Ltc

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(Querist)
21 September 2012 Hii all..My query is - Whether LTC exempt amount is required to be shown in Form 16 in allowances exempt u/s 10...and whether the taxable portion of LTC is to be shown in "value of perquisites u/s 17(2)"...Please clarify..
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Amol S Joglekar

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Amol S Joglekar (Expert)
21 September 2012 Show Gross amount of LTC under 17(2), exempt portion under "Allowance to the extent exempt"
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CA Ashish Vohra

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CA Ashish Vohra (Querist)
22 September 2012 Thanks Amol ji, Please clarify one more thing..Will it be valid under law, if we show only taxable amount u/s 17(2)?
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CA Ashish Vohra

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CA Ashish Vohra (Querist)
22 September 2012 Thanks Amol ji, Please clarify one more thing..Will it be valid under law, if we show only taxable amount u/s 17(2)?
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Amol S Joglekar

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Amol S Joglekar (Expert)
22 September 2012 Better if we show gross and exempt instead of NETTING.
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CA Ashish Vohra

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CA Ashish Vohra (Querist)
22 September 2012 Ok..Many Thanks
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