LEAVE TRAVEL CONCESSIONS( LTC) IN NEW TAX REGIME

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parshv jain

parshv jain (Querist)
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09 January 2024 IS LTC TAXABLE IN NEW TAX REGIME?

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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14 January 2024 Under the new tax regime, LTC/LTA is taxable for employees even if you produce journey tickets. So, if you want to claim LTC/LTA exemption, you will need to choose the old tax regime. If you choose the new tax regime, you will not be able to claim LTC exemption, even if you produce journey tickets.