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LTC ELIGIBILITY

Tax queries 395 views 1 replies

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

Replies (1)

Exemption U/s10(5) for Leave travel concession is available to employees  for 2 journeys performed in a block of four calendar years

2002-2005 (1st January 2001 - 31st December 2005)

2006-2009 (1st January 2006 - 31st December 2009)

2010-2013 (1st January 2010 - 31st December 2013)

for the period for which claim made by the employee, he is eligible  for any 2 journeys undertaken during the block 2006-09


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