Taxability of lta
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2015
Dear Experts,
Company has given Rs. 30000/- LTA to one of employee in FY 2015-16, query.1) total six person depand on employee inclusive two children both were born after 1 october 1998, weather all his six depanded family member can be allowed in journey alongwith the employee or not if not how many will be allowed..2) only Rs. 26000 was spend in travelling out of 30000 weather 4000 will be add in his salary for TDS deduction or not, 3) employee is claiming Rs. 26000/- was spend by him in journey however he has provided us only travelling bill ticket etc. Of Rs. 23000/- can employee avail the exemption of Rs. 26000 or he can avail only 23000, plzz clarify.....
Thanx & Regard
Vivek Jha
Company has given Rs. 30000/- LTA to one of employee in FY 2015-16, query.1) total six person depand on employee inclusive two children both were born after 1 october 1998, weather all his six depanded family member can be allowed in journey alongwith the employee or not if not how many will be allowed..2) only Rs. 26000 was spend in travelling out of 30000 weather 4000 will be add in his salary for TDS deduction or not, 3) employee is claiming Rs. 26000/- was spend by him in journey however he has provided us only travelling bill ticket etc. Of Rs. 23000/- can employee avail the exemption of Rs. 26000 or he can avail only 23000, plzz clarify.....
Thanx & Regard
Vivek Jha
Amol S Joglekar
(Expert)
20 December 2015
01. There is per se no restriction as such as to the number of family members. (In govt organisations, however, the restriction is 2 children.
02. 4000 becomes taxable
03. can avail only to the tune of expenditure having supported with reasonable vouchers. (Tax and rikshaw charges etc... vouchers are to be prepared on self declaration basis)
02. 4000 becomes taxable
03. can avail only to the tune of expenditure having supported with reasonable vouchers. (Tax and rikshaw charges etc... vouchers are to be prepared on self declaration basis)
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
- Reward for festival
- 18% Rent a cab
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Movement of goods by packers and movers - type of sale - Reg.
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Closer of business and itc of capital goods
- TDS Return Statement Status
- Appointment of Auditor By Form ADT-1
- RCM and same line
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
