Dear Friends,
Now, we are paying LTA (Local Travelling Allowances) Rs. 100 per day (monthly 2500) for all our staffs along with Salaryand showing travel reimbursement in the pay slip.
Can we add this LTA in the Salary and deduct TDS u/s 192B?
mohanraj_vkj @ yahoo.co.in
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TDS Applicable for Travelling Allowances?
Replies (5)
L.T.A exempted U/s Sec 10(5) does not form part of Salary.Hence you need not consider that portion for the purpose of T.D.S.But you must provide such details in Part B of Form 16 and arrive the taxable Salary.
Section 10(5) of the Income-Tax Act, 1961, read with Rule 2B (Commonly known as LTA Rules), provides for the exemption and outlines the conditions subject to which LTA is exempt.
Such exemption is limited to the extent of actual travel costs incurred by the employee.
Such exemption is limited to the extent of actual travel costs incurred by the employee.
Dear Friends, Thanks for your kind assistance. Could you please advise me about the Annual Bonus/Ex-Gratia and Sales Incentives.
@ Mohanraj
please raise another post for another query topic.
please raise another post for another query topic.
Yes for bonus exgratia TDS needs to be made as they form part of the salary
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