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The Income-tax Act, 1961 offers various tax exemptions, including Leave Travel Allowance (LTA) for salaried employees. LTA can be claimed for domestic travel within India with valid proof of travel. The exemption is limited to actual travel costs and is available for two journeys in a block of four calendar years.
Jan 27, 2020 · Leave Travel Allowance (LTA) is the most common element of compensation adopted by employers to remunerate employees due to the tax benefits attached to it. An 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.
Jun 6, 2024 · Discover the ins and outs of Leave Travel Allowance (LTA) with our comprehensive guide on claiming, rules, exemptions, and eligibility. Learn how to optimize tax benefits while understanding the criteria for claiming, applicable regulations, tax exemption.
3 days ago · LTA, or Leave Travel Allowance, is a significant component of an employee's wage package because it reduces taxable income. Depending on the employee's pay bracket, position within the company, and title, the LTA plan is added to his or her compensation.
Dec 6, 2023 · LTA, or leave travel concession, is an allowance included in the salary package of employees, designed to cover travel expenses incurred during leave. It forms a part of the employee's cost to the company (CTC) and is typically provided as an annual benefit.
Jan 23, 2023 · Get to know all about Leave Travel Allowance (LTA). How to claim LTA, Eligibility, LTA Block Year, tax deduction benefit, etc.
Apr 25, 2023 · Under the scheme, an employee can claim reimbursement for the travel expenses incurred during the leave period. The reimbursement is subject to certain conditions and restrictions, such as the distance of travel, the mode of transport used, the number of family members traveling, etc.
