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LTA DEDUCTION from salary

Jyoti Narang (Kkk) (1204 Points)

29 June 2022

who is eligible to claim LTA DEDUCTIONS.

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4 Replies

Akshay.K (Chartered Accountant) (30 Points)
Replied 29 June 2022

Namaskaram Jyoti,

Every employee is eligible to clain LTA deduction provided the following condition is satisfied.

1. It is a part of your CTC

2. The employer has approved the LTA and same has been disclosed as an exemption under section 10 in your form-16 provided by employer

3. You can claim LTA only twice in a block of 4 years i.e In current block applicable is year 2018 to 2021 so you can claim only twice the LTA benefit in the block of 4 years viz 2018 to 2021 (if you have not claimed earlier he/she is allowed to carryover such exemption to the next block provided he avails this benefit, in the first calendar year of immediately succeeding block)

4. LTA is allowed only for domestic travel only , so no foreign travel expenditure is allowed

5. Only travel expense you can claim not lodging or boarding

6. You can claim travel expense for your accompanied family members as well viz Spouse , children, dependent parents, brother and sister.

Hope the above info helps , feel free to reach out to me via mail akb.krupa @ gmail.com