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LTA FOR AIR FARE
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...
- 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...
- How to claim LTA: Eligibility, LTA rules, documents you need to submit, how much amount you can claim and moreLeave Travel Allowance or LTA, a component in your salary, helps offset travel expenses incurred during your vacation. The benefit extends ...
- 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 central government employees can avail benefit under LTC cash voucher schemeHere is a look at the details of how central government employees can avail the LTC cash voucher scheme as per an office memorandum issued ...
- Should you opt for the LTC cash voucher scheme? Here's how much tax you will saveHere is a look at how much you stand to gain by opting for the LTC cash voucher. This story will tell you about the rules of availing the L...
- 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...
- Govt launches tax-exempt LTC cash voucher scheme to boost consumer spendingThis is a one-time scheme and payment will be only in lieu of one LTC during the block of four years 2018-21. This should help people to so...
- What Nirmala Sitharaman's consumption boost of Rs 1 lakh crore looks likeCentral government employees that have not been able to avail leave travel concession (LTC) – air or rail fare as per scale and tax exempt ...
- How you can use LTA to go on a tax-free vacationUnder LTA coverage one is allowed to claim exemption for self, spouse, two children, dependent parents and dependent siblings.
- How to make the most of your Leave Travel AllowanceHolidays can mean heavy expenses. However, if you are a salaried individual, you can use the same vacation to save a decent amount on tax o...
- Budget 2015: Government may relax LTC norms to boost tourismThe Budget for 2015-16 is likely to expand the scope of LTA and LTC by including hotel and other expenses besides travel for the purpose of...
- Government should review taxes applicable to air travel, says Rakshit Desai of FCm Travel SolutionsThere is a pressing need to review taxes applicable to air travel where the tax component in an air fare often exceeds the underlying price...
- Budget 2014: Travel sector merits urgent tax reliefThere is a pressing need to review taxes applicable to air travel - probably the most-heavily taxed product / service in the country, where...
- 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 ...
- 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...
- Why some tax concessions make economic senseThere are a few tax concessions which have a strong case to be continued and even be enhanced in scope and quantum.
- Answers from the expertsThe LTA is exempt from tax twice in a block of four calendar years (January-December , currently the block is 2006-2009 ) based on the actu...
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