Dear Experts,
As we are in the LTA Block year 2022-26, my employer has taxed my LTA this year that is FY-2021-22 and I have paid the tax for the LTA, but I have a proof for traveling for FY-2021-22 as I have traveled with my family this year.
My query is that for current year FY-2022-23 my employer is allowing me to take tax exemption on LTA. But I have opted for New Tax Regime this year where my LTA is fully taxable. Can I avail tax exemption on LTA by keeping the traveling proof for the FY-2021-22 as per CBDT I can take tax exemption for any 2 block years.
Please suggest me for the above query!
Thanks,
Parameshwar Rao
CAclubindia
