Hello,
Is it possible to claim two LTC in Fourth Year of Block itself? Will it be qulify for deduction under the Income Tax?
For example, if an employee do not took any LTC in the first three years of the four year block. Can he travel twice in the fourth year?
As per the language of Income Tax Act, yes, this is possible...
Yes both the journies can be claimed in the forth year.
or
one journey can be carried forward in the next block of four year which should be claimed in the first year of the block.
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
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Naveen Fintech Pvt Ltd
Kolkata
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