dear all,
i needed to know the taxability of leave travel concession(LTC) for specified and non specified employees.
there were some places where i read that LTC is exempt for all employees(subject to certain limitations sec 10(5))
and some books show LTC is taxable(subject to those limitations(sec 10(5))for specified employees and exempt for non specified employees(subject to sec 10(5)).
needed to know which is correct??
CAclubindia
