Lta

This query is : Resolved

Jayant Tathe (Querist)
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18 February 2014 I have getting LTA for the year 2013 for Rs. 7000/- & and for the year 2014 Rs. 7000/- cumulatively in the year 2014.

I had not taken any LTA tax exemption for last 4 years.

Can I get tax exemption for 2 years cumulatively this year?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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18 February 2014 1. LTA exemption comes into play in the year in which the LTA amount is received.

Since the amount has been received in the year 2013-14 exemption will be allowed in the year 2013-14 only.

2. You can avail LTA exemption of 2 years cumulatively.