LTA - LTC (Leave Travel Allowance - Concession) in Brief
LTA / LTC (Leave Travel Allowance / Concession) in Brief
@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
28 December 2012@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
28 December 2012LTA - LTC (Leave Travel Allowance - Concession) in Brief
CA MANISH AGRAWAL
(Practice)
(539 Points)
Replied 28 December 2012
very useful note.thank & keep sharing.............
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 28 December 2012
Value of leave travel concession or Assistance 10(5) and Rule 2 (B)
Value of leave travel concession or Assistance received by an individual from his employee or former employee in connection with the following.
1.On leave to any place in India
2. Any place in India after retirement from service or after termination of the service.
Family Include the following
Spouse and children
Brothers and sisters wholly dependent on individual
Number of trips qualifies for exemption
Quantum of deduction
1.If Journey performed by Air
Amount doesnot exceed the air economy fair of national carrier to the shortest destination of place of Journey.
Other than Air
Option 1. Rail service is available
Amount doesnot exceed A/C First class to the shortest destination of place of Journey.
Option 2. Rail service is not available and Recognized Public service doesnot exist.
Amount doesnot exceed A/C First class to the shortest destination of place of Journey
Option 2. Rail service is not available and Recognized Public service exist
Amount doesnot exceed First class or deluxe class of such public transport to the shortest destination of place of Journey.
Dhanya Sreedhar
(CA final, doing Job)
(661 Points)
Replied 29 December 2012
very useful...superb narration...thanks to Vaibhav & Sanket...
Sonu Kumar
(Account Manager)
(665 Points)
Replied 29 December 2012
Very Good..... Easy to Understand.....
Thanks for Sharing
Deepak Bhagtani
(Learner)
(462 Points)
Replied 29 December 2012
Thanks for Sharing this Vaiuable Info..........................!!!!!!!!!! Keep Sharing..................!!!!!!
CA Gaurav Ajit Potdar
(Chartered Accountant)
(846 Points)
Replied 29 December 2012
Thanks Vaibhav for sharing such usefull information., keep it up & kep sharing......
Hemant Kumar
(Accounts Manager MBA (Fin) CMA*)
(6450 Points)
Replied 29 December 2012
Hemant Kumar
(Accounts Manager MBA (Fin) CMA*)
(6450 Points)
Replied 29 December 2012
CA Mansi Kotecha
(Keep Smiling !!)
(6890 Points)
Replied 29 December 2012
As usual..most useful thread posted by you..
Thnk u Vaibhav ji !!
Vandana Mulchandani
(Finance Manager )
(9227 Points)
Replied 29 December 2012
priyankadimri
(student)
(724 Points)
Replied 29 December 2012
Originally posted by : Gaurav A. Potdar | ||
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Thanks Vaibhav for sharing such usefull information., keep it up & kep sharing...... |
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Hardik Dave
(IPCC and CS Professional(FINAL) Student)
(15533 Points)
Replied 29 December 2012
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