Dear Professionals, I am an employee in a pvt. ltd. co., we have LTC facility to reimburse. one of our employee is working with us since 2005. He applied for LTC on 15.05.2010 for the financial years from 2006-07, 2007-08, 2008-09 & 2009-10. As per my knowledge he is eligible from the current financial year i.e. 2009-10 to proportionately 2 previous years i.e. he is eligible LTC reimbursement from 2007-08 to 2009-10. Is it correct or not? If it is correct please advise us how to proceed. Otherwise please mention the reasons.
Your immediate response is highly appreciated in this regard.
Sekhar
CAclubindia
