Ltc

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prerna (Querist)
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02 March 2014 I had a query related to LEAVE TRAVEL ALLOWANCE.. if I join my job in July 2013 m I eligible to claim LTC for the block of 2010-13... if yes then whether I can claim two such journey... can it be carry forward to next block if I don't utilise any of my LTC

Aashish Tiwari

Aashish Tiwari (Expert)
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02 March 2014 Only clain one journey of last block...
sec 10(5)
Two Journey in a Block of Four Years is exempted:Exemption is allowed on two journey in block of four years.present block is running from 2006-09 .The block of four year is taken on the basis of Calender year.
Carry forward of LTC In next block:if assessee has not availed LTC exemption in Last block of four years (single or both) than he can carry forward single(one) exemption in first year of next four year block and can perform journey in first year of the next four year block.(single journey of the old block period can be carry forward and exemption can be availed in first year of next block of four year) .It is also clarified here that two journey actually belongs to next /new block of four years have no impact of carry forward of the old Journey performed in new block period of four years.

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