Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
23 January 2013Friends
I have a query on LTA.
An employee proposes to avail LTA in calendar year 2013. He has not withdrawn LTA for last 3 years. Suppose his salary was as follows
2010 10,000
2011 12,000
2012 14,000
2013 16,000 . In 2013 he will withdraw 36,000 for last 3 years. Will he be entitled to full amount as exemption under section 10(5) read with Rule 10B. the current block of 4 years is from 1 Jan 2010 to 31 December 2013.
Regards,
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 23 January 2013
Hi
In block of 2010 to 2013 ony two trips are exempted..
So he can not claim 3 claims..
Even if he has not claimed any claim in last block then leftover claim has to be made in the first year of next block only..
Thanks!!
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 23 January 2013
Pl refer: /forum/lta-ltc-leave-travel-allowance-concession-in-brief-233079.asp#.UP_e9Sd5-0c
for detaiils..
Thanks!!
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 24 January 2013
Vaibhav
Many thanks for your response. I have read your article as well. Kudos.
But can you give a specific answer to my query with figures. It will indeed be helpful.
Regards,
CAclubindia
