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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.
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.
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.
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.
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.
4 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.
May 23, 2024 · LTA stands for Leave Travel Allowance, while LTC stands for Leave Travel Concession. Both refer to the exemption of travel expenses incurred by an employee for a vacation within India.
Jul 27, 2023 · Leave Travel Concession (LTC) is a tax benefit offered by the Indian government to salaried individuals for travel expenses. This benefit encourages employees to take leave and explore different parts of the country with their families.
Jun 18, 2024 · Here is a list of exempted income under Section 10: Section 10 (13A) of the Income Tax Act covers House Rent Allowance (HRA). The part of your salary you receive to cover house rent and accommodation expenses is exempted from taxation. However, a few exceptions are included in Section 10 (13A) Rule 2A.
