A K SARMA (SERVICE IN PSU (OIL & GAS)) (166 Points)
14 March 2012I am working in a PSU. I have travelled from Visakhapatnam to Shimla on LTA/LTC. I have traveled by Train((2nd AC) upto Hyderabad and from Hyderabd to Delhi by Air Air(Economy) and by Taxi(From Delhi to Shimla). Whether the total expenditure exclusively incurred for Train/Air/Taxi can be claimed for LTA Exemption? or is there is any specified amount is there as per IT act for LTA Exemption.
Kindly Advise in this regard,
raj shekhar
(CA Final)
(60 Points)
Replied 18 July 2012
Amount paid for Travelling is allowed as exps under LTA
CA.Varalakshmi.M
(Manager-Finance)
(482 Points)
Replied 18 July 2012
Amount Exempted
Exemption On actual Expenses Only:The amount of exemption is Limited to actual expenses only .Means allowed only if actual journey is performed.
Hope this clarify your doubt
Ritesh Jain
(CA, CS in Job)
(675 Points)
Replied 10 February 2014
Dear,
As per provisions of IT act employee has to travel alongwith parents to be eligible for LTA exemption.
What If parents join in between of journey, whether the total exemption related to parent portion will not be given or partial.
For e.g:
Suppose an employee starts journey from A and reaches to D via B and C.
Parents join at point B and come back to B alongwith family. whether there will be any LTC exemption for parents portion. ??
Please reply quoting some supporting case law and provisions.
Ritesh Jain
(CA, CS in Job)
(675 Points)
Replied 10 February 2014
Dear,
As per provisions of IT act employee has to travel alongwith parents to be eligible for LTA exemption.
What If parents join in between of journey, whether the total exemption related to parent portion will not be given or partial.
For e.g:
Suppose an employee starts journey from A and reaches to D via B and C.
Parents join at point B and come back to B alongwith family. whether there will be any LTC exemption for parents portion. ??
Please reply quoting some supporting case law and provisions.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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