24 February 2010
Company pays LTA every month say around Rs. 2000/- per month along with salaries (part of CTC) and recovers tax on the same. When employee submits the bills, tax exemption will be given.
Now the question is suppose an employee has not claimed LTA in the current block earlier and wants to claim say around Rs. 50,000/-, can he claim the full amount? whereas for this financial year he has actually received only Rs. 24,000/-.
CAclubindia
