An Employee has availed Rs 25,000 as LTA from his company, but hasn't made a travel So the amount is Taxed.
In the next year, he availed Rs 25,000 and performed a travel. He has submitted his bills for 65,000.
His contention is that since previously his LTA has been taxed and not allowed as deduction , he would avail Rs 50,000 in current year.
Is his contention valid?? Can he avail for Rs 50,000.??
Please do suggest:)
Yes, He can claim only Rs 25,000.
After my understanding i got that
Carryforward option is only for the number of travels and not the amounts unavailed previously.
Thank u Nisha for spending ur valuable time
BANSAL YOGESH AND CO
Gautam Budh Nagar
B.Com
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