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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 employer provides LTA to employee for leave to any place in India taken by the employee and their family. Such exemption is limited to the extent of actual travel costs incurred by the employee. The total cost of the holidays is not covered, only the .....

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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 travelling. If only family is travelling then deduction is not allowed. Amount Exempted: Journey performed by Air - Economy Air fare of National carrier by the shortest route or the amount spent whichever is less will be exempt Journey performed by Ra .....

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