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LTA RULES
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...
- 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 ...
- 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...
- 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 ...
- CII National Committee writes to tourism minister seeking opening of hotels across states, tax roll backRequesting the minister to advise all state governments to allow hotels to operate as per Unlock 3.0 MHA guidelines, making loans more acce...
- 5 things you must know about LTA deductionThe deduction is limited to the extent of actual travel costs incurred by the employee. The total cost of the holidays is not covered, only...
- 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...
- Leave travel concession rules for public sector banks, financial firmsThe LTC/LTA norms of banks and other financial institutions would now onwards be governed by the same rules that cover government employees.
- 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 ...
- Revisit standard deductionBack in 2009, the Supreme Court had to determine whether a company needs to collect evidence that its employees have utilised their LTA cla...
- 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...
- DTC may end up as a zero-sum gameWhile you may lose out on LTA exemptions & HRA computations remain hazy, the salaried can draw solace from higher medical & retirement bene...
- LTA to enjoy tax exemption in new regimeThe government may allow the Leave Travel Allowance (LTA) to be exempted from taxation once the Direct Tax Code (DTC) comes into effect.
- Now, you don't need proof to claim LTA, conveyanceAccording to prevailing rules, if claims on LTA and conveyance are not supported by journey bills, they would be taxed. Monitor your financ...
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