Leave travel concession

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2012 Whether Leave Travel Concession Exepmtion can be claimed only by government employees or employees of Private Ltd CO also.

I am employed in a Private Limited Company .Ca i claim the exepmtion of LTC

Sunny Sonwal

Sunny Sonwal (Expert)
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19 October 2012 Yes, you can also avail this exemption.

LTC Exemption can be availed by both the Govt Employee as well as Non-Govt Employees.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2012 Can it be claim for the expenditure incurred for my parents also who are not dependent on me ?

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CA CS Nitin

CA CS Nitin (Expert)
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19 October 2012 The meaning of ‘family’ for the purposes of exemption includes spouse and children and parents, brothers and sisters who are wholly or mainly dependent on you.

An individual would not be able to claim the exemption in relation to his parents, brother or sisters unless they are wholly or mainly dependent on the individual. Further, exemption is not available for more than two children of an individual born after October 01, 1998.

This restriction does not apply in respect of children born before this date, and also in cases where an individual, after having one child, begets multiple children (twins or triplets or quadruplets, etc.) on the second occasion. The term “Child” includes a step-child and an adopted child of the individual.

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Querist : Anonymous

Querist : Anonymous (Querist)

19 October 2012 Thanx alot to both of you..