Leave Trave Allowance, Income Tax

[Shyam Naik]

Dear All,

An employee is undertaking travel. The period of travel is 30/03/16 to 04/04/16.

He has already paid for the Air Ticket & Lodging.

Whether he is eligible for exemption of LTA during the year 2015-16.

Thank you.

Posts / Replies

[Ganeshan Kalyani]

In my view, Yes. However you should talk to your company HR department.

[KASTURI SETHI]

Sh.Ganeshan Kalyani Ji,

Pl. note the period. Is there any change in the Budget, 2016 on this issue ? Pl. confirm.

[KASTURI SETHI]

Normally in Income Tax notifications are effective prospectively ?

[Ganeshan Kalyani]

Sir, LTA can be claimed twice in a block of four years. Current block financial year is 2014 to 2017. Hence he should be able to claim the LTA. Thanks.