About leave travel allowance?

Hi Anshul,

As per Income Ta x the amount of Maximium exemption available to employee will be as follows:

1) If journey is perfromed by AIR:  then economy fair of the national carrier by shortest route shall be exempt.

2) Other than Air:

        a)coonected by RAIL: then first AC rail fare by shortest route shall be exempt.

         b)Not connected by rail: If recognised public transport exist eg buses then 1st class or delux class fare will be exempt.

          If public transport system does not exist,first AC rail fare shall be exempt assuming that destination is connected by rail.

An employee can avail exemption for only two journeys in a block of 4 years.

Thanx for rply bt dats not what m asking,,,,,,,

m asking that there is limit on the above mentioned expenses,,, like i expend 20000,,, but there is ceiling limit from company,, dat company will allow 15000 only,,,

now ma question is---

what is the procedures/steps/whatever to calculate the limit of 15000 by company,,,,,,

otherwise company maximum 1 lac allow kar degi and Income tax walo ko tax nai milega.......

jst think sum more deeply,,,

if possible check sec. 10(5),,, i dont have book for tht,,,

tried google,, but its not helping......

so thanx and rply back if u can help...