Do we require documentary proof for availing tax relief for Leave Travel Allowance (LTA)as recenty there has been a supreme court judjement in the matter of Larsen &Toubro and ITI held that . there is no statutory obligation under Income Tax Act, 1961, and relevant rules, to collect documentary proof to show that their employee(s) had actually utilised the amount paid towards the leave travel concession and conveyance allowance.
Kindly confirm as our company says that it wont be effect unless there is a CBDT circular to this effect.
CAclubindia
