LTC
This query is : Resolved
10 February 2011
Employee has not claimed LTC in earlier year.Now he is claiming LTC for 2009-10 & 2010-11 by making Journey from 18/05/2010 to 25/05/2010.Total amt of claim is Rs. 40000/- and fare incurred Rs. 50000/- Let me advice whether he is eligible for exemption for both the years on the basis of tickets provided for one journey of above period.
10 February 2011
The assessee can claim exemption in respect of any two journeys in a block of 4 years. Current block is Calendar years 2010-2013 and previous block was 2006-09.
Since you have not performed any journey in Block 2006-09, you can claim the exemption of first journey in the calendar year immediately succeeding the end of the block of four calendar years i,e 2010-13.
but you cannot claim LTC for two years by undertaking one Journey.
The assessee can claim exemption in respect of any two journeys in a block of 4 years. Current block is Calendar years 2010-2013 and previous block was 2006-09.
Since you have not performed any journey in Block 2006-09, you can claim the exemption of first journey in the calendar year immediately succeeding the end of the block of four calendar years i,e 2010-13.
but you cannot claim LTC for two years by undertaking one Journey.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
