Hi Sir or Madam
In order to claim LTA under section 10(5) of the Income tax Act, will Bus fare can be considered
There are lot of Bus tickets as part of his journeys for an Individual who is a salaried employee
Please advise
Thanks in advance
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LTA Bus fare Eligible or Not
Replies (1)
Public transport
Expenses exempted under LTA Allowance
- Travel by plane: The cheapest airfare using the shortest route or the amount paid, whichever is less, would be omitted.
- Travel by rail: A.C. first-class fare from the shortest path or the amount expended on travel, whichever is less, would be removed.
- The origin and destination points of the journey are linked by train, but the journey is completed by another means of transportation.
- The origin and destination locations are not linked by rail (partly or completely) but are connected by another recognized public transportation system.
- The origin and destination locations are not linked by rail (partly or completely) but are connected by another recognized public transportation system.
Also, read about Special Allowances
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