Ltc
This query is : Resolved
CA Ashish Vohra
(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..
Amol S Joglekar
(Expert)
21 September 2012
Show Gross amount of LTC under 17(2), exempt portion under "Allowance to the extent exempt"
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)?
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)?
Amol S Joglekar
(Expert)
22 September 2012
Better if we show gross and exempt instead of NETTING.
CA Ashish Vohra
(Querist)
22 September 2012
Ok..Many Thanks
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