LTA & reimbursement of medical exps

This query is : Resolved

Prashant (Querist)
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18 April 2009 Suppose I take my LTA for 2007 & 2008 in the year 2009. So in such case how the IT will be calculated because LTA is exempted twice in a block of 4 years. So whether LTA is taxable on accrual basis or receipt basis after examining the earlier exemption.

Similarly suppose I take medical reimbursement for the year 2007-08 & 2008-09 in 2009-10. Both put together are not more than 30000/- So in that case the deduction of Rs 15000/- p.a. can be claimed or only Rs 15000/- can be claimed and balance 15000/- will be taxed

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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19 April 2009 after reading of section 10(5)it says that the amount must be due or travel must be made(which ever is earlier) is the 2009 to get the LTC exempted.
It means that if you have made the ticket in 2009 but performs the journey in 2010 it is ok and LTC(Leave travel concession ot assistant, as you say) is exempted.

Any imbursement in excess of Rs. 15000 by employer in previous year is taxable, irrespective of the fact that it relates to preceeding year(s) or coming years