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What is Leave Travel Allowance (LTA)? Leave Travel Allowance/Leave Travel Concession is a type of allowance given by an employer to their employee for travelling to any place in India: either on leave, after retirement or after the termination of his service.
Feb 22, 2021 · Discover the tax benefits of Leave Travel Concession (LTC/LTA) under Section 10 (5) of the Income Tax Act, 1961. Learn how to save on your taxable income.
Definitions. Change of hometown. Declaration of place of visit under Leave Travel Concession to any place in India. Admissibility of Leave Travel Concession. Types of Leave Travel Concession. Counting of Leave Travel Concession against particular blocks. Carry over of Leave Travel Concession.
Apr 25, 2023 · Leave Travel Concession (LTC) is a benefit provided by employers to their employees to travel within the country during their leave period. The objective of this benefit is to encourage employees to take a break from work and explore new places while spending quality time with their family.
May 1, 2024 · Leave Travel Concession (LTC) scheme is a concessional travel facility for the Government employees to visit their Home Town or to visit any place in India during a block of four years.
Jul 13, 2018 · Leave travel allowance is an allowance given by an employer to his employee for travelling in India with or without family. Such allowance is to be spend on travelling from public means of transport i.e by air, rail or bus and not for other expenses such as hotel room charges, food expenses etc.
2 days ago · All about Leave Travel Allowance (LTA) in India. Know the Meaning of LTA, How to Claim, Exemption, Calculation and its Benefits. Visit our site for more info.
Feb 13, 2020 · Leave travel concession is an allowance given by an employer to an employee for meeting travel expenses when the employee is on leave from work. Leave travel concession is tax-exempt under the Income Tax Act.
Jul 27, 2023 · Understand LTC (Leave Travel Concession) claim provisions, eligibility, documents needed, and tax implications. Learn how to maximize the tax benefit for travel expenses.
Jun 6, 2024 · Leave Travel Allowance is a tax-free allowance employers offer employees as part of their salary component. Under this allowance, the costs incurred by the employee on taking a trip for leisure purposes are allowed as a tax-free expense.
