Ltc exemption

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 December 2011 LTC expense incurred in march11( FY10-11)for RS 100000. Can Individual claim the exemption in FY 2011-2012 from his income.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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24 December 2011 LTC can be claimed on the basis of such concession being received by him from the employer or on the basis of the concession due to him. As the amount has already been received from the employer, it can be claimed in FY 2010-11 only.

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