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Leave Travel Allowance (LTA) - [Sec. 10(5) AND RULE 2B]

Income Tax - Salary Income - 02 - LEAVE TRAVEL ALLOWANCE [Sec. 10(5) AND RULE 2B] LTA is the remuneration paid by an employer for Employee s travel in the country, when he is on leave with the family or alone. LTA exemption can be claimed where the e .....

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travelling cost is covered. Travel has to be undertaken within India and overseas destinations are not covered for exemption. For example, where an employer provides LTA of 25,000, but an employee spends only 20,000 on the travel cost, then the exemp .....

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after October 01, 1998. The tax rules provide for an exemption only in respect of two journeys performed in a block of four calendar years. The current block runs from 2014-2017. Exemption is allowed only when the person claiming deduction is also t .....

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