Hi All,
Please note that even though The Hon'ble Supreme Court has given a verdict stating that an employer is not required to ask for proof of travel from the employee to provide exemption for the LTA Payment.
It would be noteworthy to look into the circumstances that led to this verdict. If people would go through the verdit carefully, all could note that the verdict says that "Since the section related to LTA is not covered under Sec 192 B (section regulating Tax on Salaries), it is not binding on the employer to collect the proof".
Please note that the Central Board of Direct Taxes (CBDT) can at any point of time notify and bring this under the purview of Sec 192 B with retrospective effect.
Therefore it is always advisable to collect the proofs to be on a safer side.
From India, Pune
Please note that even though The Hon'ble Supreme Court has given a verdict stating that an employer is not required to ask for proof of travel from the employee to provide exemption for the LTA Payment.
It would be noteworthy to look into the circumstances that led to this verdict. If people would go through the verdit carefully, all could note that the verdict says that "Since the section related to LTA is not covered under Sec 192 B (section regulating Tax on Salaries), it is not binding on the employer to collect the proof".
Please note that the Central Board of Direct Taxes (CBDT) can at any point of time notify and bring this under the purview of Sec 192 B with retrospective effect.
Therefore it is always advisable to collect the proofs to be on a safer side.
From India, Pune
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SALARY SHEET CALCULATION.xls