Hello Frnds,
Good noon to all,
i am aware abt the basic rules for LTA and four year block period and other things.
My question is, "can i claim two LTA in one year and then will not claim any in the rest of the 3 years of the block."?
Regards.
Menu
Two lta in one year
Replies (2)
As per my knowledge..u cannot do so.
The condition for the frequency in availing LTA is
1. LTA can be availed for two journeys in a block of 4 calender years. [Rule 2B(2)]
2. If LTA is not availed in the previous block then the first LTA availed in the first year of the subsequent block of 4 years is eligibe to be exemted. This will be an additional exemption available to the two journeys specified above [as per rule 2B(3)]
Please note that Rule 2B(2) specifies only number of journeys during the block of 4 years. It may be taken at any point of time in the block. Therefore it goes without saying that it may even be taken in a single year.
Recent Topics :
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
Related Topics :
CAclubindia
