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LTA EXEMPTION SECTION
New income tax regime: Don’t miss out on these 3 key deductions that will reduce your taxable income & help save more taxMany taxpayers mistakenly believe the New Tax Regime offers no deductions. However, salaried employees and pensioners can claim a Rs 75,000...- Budget 2026: Why income tax amendments will be made in the 2025 Act instead of the repealed 1961 lawIf any tax policy changes are announced in Budget 2026, legislative logic dictates they will have to be made directly in the 2025 Act, rath...
- LTA exemption in new tax regime: Can you claim leave travel allowance exemption in new tax regime or is it taxable?LTA exemption in new tax regime: Many salaried employees have a leave travel allowance as part of their CTC. However, due to tax regimes (o...
- Unused LTA utilisation: Take a holiday and travel in India before March 31, 2025, to save income tax; know how to make this plan workLeave Travel Allowance (LTA): Eligible employees who have an holiday on March 31, 2025 on account of Eid al-Fitr can make use of their unus...
- Submit LTA proofs before March 31, 2025, to avoid risking tax notice when claiming LTA tax exemption in income tax returnLTA exemption: A salaried employee opting for the old tax regime can claim an exemption for leave travel allowance under Section 10(5) of t...
- Leave Travel Allowance: This is the last date for current LTA blockSalaried employees can claim Leave Travel Allowance (LTA) for travel expenses incurred during leave, covering up to two journeys within a b...
- LTA or Leave Travel Allowance exemption limit, eligibility, restrictions, documents you need to submit: LTA latest rules hereLeave Travel Allowance (LTA), which is component of your salary, helps cover travel expenses incurred during your vacation. While it covers...
- Central govt employees, private employees can't claim LTA if they don't follow these rules; LTA eligibility, other latest updatesLTA for central govt employees: Employers offer Leave Travel Allowance (LTA) to offset travel expenses during leave. It covers airfare, tra...
- What is the difference between tax exemption and tax deduction?If you are confused by personal finance terms, jargon and calculations, here’s a new series to simplify and deconstruct these for you. In t...
- LTA exemption: Submit tax-saving proofs to employer by March 31 deadline as claiming LTA in ITR is a hassleLTA, usually a component of your salary, covers the expenses of your travel during vacation. The cost incurred for family members who trave...
- Opting for new tax regime for TDS on salary? Issues you are likely to face while filing ITRThe Budget 2023 has made changes under the income tax laws, that have an impact on how tax will be deducted from the salary income by an em...
- Don't forget to claim your LTA tax exemption this year: Here is howLTA exemption is available for 2 journeys in a block of 4 yrs. While the current block is 2022-25, one can undertake three journeys in the ...
- How to claim LTA from your employerBefore availing of the tax benefit on LTA, there are, however, certain other important conditions attached to it. Read on to know them. Do ...
- How to claim LTC Cash Voucher exemption in your income tax returnAs per the government, individuals having LTC/LTA in their salary package would have been unable to travel and claim income tax exemption o...
- New tax regime doesn't allow LTC cash voucher tax benefit: ExpertsAs per existing income tax law, an employee can claim tax-exempt payment of LTA/LTC (if provided by employer) equal to the fare of domestic...
- Leave travel allowance (LTA) to be tax exempt only for domestic travelThis was clarified in a recent ruling by the Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) while hearing an appeal of a PSU ...
- Q&A: TaxationSection 54 provides for exemption on longterm capital gains arising on sale of a house on reinvestment in another house within a stipulated...
- When and how to claim LTA to maximise tax benefitsIf you are entitled to leave travel allowance, you can claim it to reduce your tax. Find out when and how to claim it before you catch your...
- Query corner: TaxOur expert helps you Understand the Complexities of Tax In This Weekly Column.
- ET in the Classroom: Leave Travel AllowanceET brings out a prime on Leave Travel Allowance, which is offered to employees by companies to offset the tax liability.
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