I would like to know whether there is any limit / cap on the amount of LTA irrespective of the salary drawn.
From India, Madras
From India, Madras
LTA Bills
Proof to be submitted
1. Original Ticket for rail travel (or) E-tickets along with proof of payment i.e either bank statement or credit card statement.
2. Original Boarding pass and Photocopy of air ticket for Air Travel
3. Independent road travel shall not be eligible for LTA exemption. Incase employee who has traveled Rail/Air continues his journey, which is subsequently connected road travel, shall be allowed, if supported by on way toll receipt.
4. Tour packages are not allowed for LTA exemption
5. If employee is not able to produce any above mentioned document for whatever reason, the said claim will not be considered for tax-free benefit.
Guidelines
1. Domestic Air/Rail/Road Travel proofs will qualify for LTA exemption. (Foreign Travel tickets will not qualify for LTA exemption).
2. Employee can avail tax-free benefit twice in the block of 4 years.
3. At a time one journey (to and Fro) will qualify for exemption.
4. Employee should be part of the travel
5. Boarding and lodging Expenses will not be considered for LTA exemption.
6. Leave should be availed during the period of travel
7. Only fare cost is exempt.
8. Current Block :Leave Travel Expenses qualify for exemption for 2 domestic in block of 4 years . Current Block is from January 2006 to December 2009. This goes on calendar year basis.
9. In case employee travels more than one destination, than he shall claim LTA exemption for one destination only.
From India, Mumbai
Proof to be submitted
1. Original Ticket for rail travel (or) E-tickets along with proof of payment i.e either bank statement or credit card statement.
2. Original Boarding pass and Photocopy of air ticket for Air Travel
3. Independent road travel shall not be eligible for LTA exemption. Incase employee who has traveled Rail/Air continues his journey, which is subsequently connected road travel, shall be allowed, if supported by on way toll receipt.
4. Tour packages are not allowed for LTA exemption
5. If employee is not able to produce any above mentioned document for whatever reason, the said claim will not be considered for tax-free benefit.
Guidelines
1. Domestic Air/Rail/Road Travel proofs will qualify for LTA exemption. (Foreign Travel tickets will not qualify for LTA exemption).
2. Employee can avail tax-free benefit twice in the block of 4 years.
3. At a time one journey (to and Fro) will qualify for exemption.
4. Employee should be part of the travel
5. Boarding and lodging Expenses will not be considered for LTA exemption.
6. Leave should be availed during the period of travel
7. Only fare cost is exempt.
8. Current Block :Leave Travel Expenses qualify for exemption for 2 domestic in block of 4 years . Current Block is from January 2006 to December 2009. This goes on calendar year basis.
9. In case employee travels more than one destination, than he shall claim LTA exemption for one destination only.
From India, Mumbai
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