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Leave travel concession

Danish (student) (149 Points)

27 October 2013

1 VALUE OF LEAVE TRAVEL CONCESSION: Any concession received by employee for himself or his family for travelling to any place in India is exempt to the extent of amount spent subject to the following conditions: 1. Exemption only for two journeys in a block of four years and out of two journeys exemption for one journey can be claimed in the calendar year succeeding the end of the block. [current block: 2010-13] 2. Exemption only for two children but exemption will be available for all children born before October 1, 1998 Plzz explain me this.. especially point no. 1

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2 Replies

Rajiv Kaparthy (IPCC student) (41 Points)
Replied 28 October 2013

1. It means that in a continuous set of four years, only two journeys will be exempt and only one of these two journeys, if opted, can be claimed b/w jan1 2015 and dec31 2015. (im not so sure about these dates. the question says the block is 10-13, so im thinking that the 4 financial years are - 10-11, 11-12, 12-13 and 13-14. so, the calendar year after 13-14 is jan1 15 to dec 31 15). am i ryt?

2. exemption is only available for 2 children that were born on or after 1 october 1998. all other children's expenses are eligible for exemption.