Leave Travel Concession (LTC)
This query is : Resolved
20 November 2010
There is a provision as regard LTC that exemption can be availed only in respect of two journeys performed in a block of four calendar years.If there is a block of four year s from 2006-2009 I have confusion that two journey are permitted in this block any time or seperate.
It means 2006-07 only one journey and 2008-09 seconde journey
How it is the provision.
Pls clarify as this is urgent sir....
It means 2006-07 only one journey and 2008-09 seconde journey
How it is the provision.
Pls clarify as this is urgent sir....
20 November 2010
Two journeys at any time during the block of four years. The period of 4 years is from 1st January 2006 to 31 st December, 2009.
Next Block of 4 years is from 1st Jan 2010 to 31st Dec 2013.
So it doesn't mean 2006-07 & 2008-09.
Even in a single calender year LTC for 2 journeys can be availed.
If 2 LTCs not availed in a block, then you can carry forward 1 LTC till the 1st month of new Block of 4 years.
Next Block of 4 years is from 1st Jan 2010 to 31st Dec 2013.
So it doesn't mean 2006-07 & 2008-09.
Even in a single calender year LTC for 2 journeys can be availed.
If 2 LTCs not availed in a block, then you can carry forward 1 LTC till the 1st month of new Block of 4 years.
22 November 2010
Thanks a lot
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax implications of gift to maternal uncle
- Closure of a PVT LTD company
- 26QB correction - no data available error for fully consumed/processed with default
- Input Tax Credit Puf panels
- Real estate business by a partnership firm where both of the partners are SC/ST
- ROC filings for the first year of incorporation
- When I Login E-invoice portal with waybill user id and pw, it is showing 3011 error data
- TDS on Purchase of Immovable Property in case of Co Owner
- How to open attachment in 23ac xbrl
- Gst calculation of Rs. 250000/-
- Demand due to error in 3cd
- Travel Agent Charges 5 % GST without ITC. Can he raise invoice @ 18% on Service Fee for Flight Tick
- Capital gains LTCG
- Income tax planning
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
- Printing Press under Composition Scheme
- 140-A Tax Wrongly Paid PAN No
- CSR funding for private limited companies
- Professional tax deduction monthly
- Cross charges verses Isd methof
CAclubindia
