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leave travel allow/ reimbursement

Mayur Kolte (practice) (81 Points)

15 March 2011

can anybody tell me the consequences of claiming LTA once in a two year .. How much exemption I will get i.e if my allowance is 10000 and I have claimed 20000 for 2 years in current year. then I will get exemption of 20000 or only 10000... as pe sec 10 (5)????? also please clarify I have to give proof of that journey

Please revert at earliest.

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7 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 15 March 2011

You should have proof of journey and entire amount will be exempt as expenses given in detail u/s 10(5) …

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Athmaram (Articled Assistant) (170 Points)
Replied 15 March 2011

The value of leave travel concession provided to an individual and his family by an employer or a former employer in connection with his proceeding on leave to any place in India, or for proceeding to any place in India on retirement or termination of his services. Section 10(5).

Hence if ur travel is to places in India then you can claim the entire Rs.20,000 as exemption. With sufficient bills in supporting.

Thanks & Regards

Ram.

Mayur Kolte (practice) (81 Points)
Replied 15 March 2011

No I think only partial amt will be exempted because as per 10(5) 2 journeys are exempted in 4 years . As I am claiming 2 years LTA only in one year and still want to keep my 1 right of journey pending for next 2 years . so my entitlement is subjust to sea;ling of 1 years LTA .

Also as per latest circulars I need not submit the proof of Journey .

Please discusss......

Pankaj Arora (Learner) (3134 Points)
Replied 15 March 2011

yes in four years two journeys are exempt and you took one journey in first two year and second will take in next two year or carry forward that’s why first journey expense will exempt and second journey expense will exempt too but not for third one in four years.