LTA & Ed. Allowance exepmtion query

This query is : Resolved

amol (Querist)
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25 May 2009 i received LTA 5200 in cash for the year 2008-09. is it taxable or exempt under section 10.

i received ed. allowance 350 per month Yearly 4200/- so how it is taken in computaion of taxability.

CA E.A.Ravikumar

CA E.A.Ravikumar (Expert)
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25 May 2009 If the amount you received for LTA is a reimbursent against submission of bills and within the no.of.journey within the block period then it is exempted. If the amount you receive is a fixed monthly amount irrespective of whether you travel or not then it is taxable.

Children education allowance, subject to (1) Rs.100 per child,per month (2) for two children is exempted u/s10.(14).

if you have one child then 100 X 12=1200 will be exempted, if the allowance is for two children then Rs.2400 is exempted