Hi Can some one send me a LTA policy , which states that maximum limit , travel bills, leave upto so many day etc. Regards Asmita
From India, Mumbai
2From India, Mumbai
Hu Ashmita,
LTA is a monteory benefit given by an employer:
LTA Rules:
1. For claiming LTA an employee needs to take minimum 5-days of leave i.e. excluding saturdays & sundays.
2. Leave should be approved by the immediate supervisor.
3. LTA is basically one month Basic salary of an employee, e.g. my basic salary is 15000/-, so i am eligible for Rs. 15000/- lTA claim.
4. LTA - only to & fro travel tickets are only reimbursed & taxi bills are not reimbursed totally as only a certain amount as per the government of india policy only gets reimbursed.
Rgds,
Anu
From India, Hyderabad
LTA is a monteory benefit given by an employer:
LTA Rules:
1. For claiming LTA an employee needs to take minimum 5-days of leave i.e. excluding saturdays & sundays.
2. Leave should be approved by the immediate supervisor.
3. LTA is basically one month Basic salary of an employee, e.g. my basic salary is 15000/-, so i am eligible for Rs. 15000/- lTA claim.
4. LTA - only to & fro travel tickets are only reimbursed & taxi bills are not reimbursed totally as only a certain amount as per the government of india policy only gets reimbursed.
Rgds,
Anu
From India, Hyderabad
Please note the details for LTA
the leave permissible is dependent on the company's policy.
LTA entitlement payable for the year is equivalent to one month basic.
LTA is permissible on two travel journeys in a block of 4 calendar years.
Minimum of 3 days leave(PL) should be applied for to avail the benefit for claiming LTA exemption.
The allowance is restricted to the shortest route of travel either by First Class AC by Train or by Economy Class Air Fare.
Employees can claim exemption on LTA based on the submission of bills and providing for proof of travel for journeys undertaken.
Family members are eligible to avail this benefit i.e. employee’s Spouse and children and dependent parents, brothers, sisters of the individual.
The proof of documents required for claiming exemption on LTA
o Tickets and Boarding Pass in case of Air Travel (Economy Class).
o Original Tickets in the case of rail journey.
From India, Bangalore
the leave permissible is dependent on the company's policy.
LTA entitlement payable for the year is equivalent to one month basic.
LTA is permissible on two travel journeys in a block of 4 calendar years.
Minimum of 3 days leave(PL) should be applied for to avail the benefit for claiming LTA exemption.
The allowance is restricted to the shortest route of travel either by First Class AC by Train or by Economy Class Air Fare.
Employees can claim exemption on LTA based on the submission of bills and providing for proof of travel for journeys undertaken.
Family members are eligible to avail this benefit i.e. employee’s Spouse and children and dependent parents, brothers, sisters of the individual.
The proof of documents required for claiming exemption on LTA
o Tickets and Boarding Pass in case of Air Travel (Economy Class).
o Original Tickets in the case of rail journey.
From India, Bangalore
hi all,
we have planned to implement the policy of compulsory holiday for staff members, wherein we would be providing one week off with tickets and accomodation reimbursements for staff member and family. I would request to send me a document that have proper guidelines to implement such initiative.
thanks in advance.
rgrds,
pragati
From India, Calcutta
we have planned to implement the policy of compulsory holiday for staff members, wherein we would be providing one week off with tickets and accomodation reimbursements for staff member and family. I would request to send me a document that have proper guidelines to implement such initiative.
thanks in advance.
rgrds,
pragati
From India, Calcutta
Dear Sir, My Quiry is regarding Leave Travel Allowance (LTA), if i have not selected the LTA component in my CTC, but can i claim the LTA for tax exemption ? Veerendra.
Dear Asmita, LTA in the insurance term means Liesure Travel. Do reach me for any overseas travel details :icon1: Regards, Amit 93242 06261
From India, Mumbai
From India, Mumbai
"The allowance is restricted to the shortest route of travel either by First Class AC by Train or by Economy Class Air Fare. "
Does anyone knows, how is this calculated ? or where can one find the guidelines for this calculation.
just for better illustration : lets say i travelled by Taxi from Delhi to Hyderabad
Now IT rule says,they would pay the as cost of
"the shortest route of travel either by First Class AC by Train or by Economy Class Air Fare."
Now If I look at the on Ref : <link outdated-removed>
for trains leaving New delhi to hyderbad and its fare, they amount paid to me around Rs 8000/- looks much less than what i sud be eligible for 1st AC class train fare.(number of person travelling are 4, cost x 4).
Now where can I find this guidline which had made the finance team come at figure of 8000/- instead of cost that shows in <link outdated-removed> for 4people to and fro jounrey.
From India, Delhi
Does anyone knows, how is this calculated ? or where can one find the guidelines for this calculation.
just for better illustration : lets say i travelled by Taxi from Delhi to Hyderabad
Now IT rule says,they would pay the as cost of
"the shortest route of travel either by First Class AC by Train or by Economy Class Air Fare."
Now If I look at the on Ref : <link outdated-removed>
for trains leaving New delhi to hyderbad and its fare, they amount paid to me around Rs 8000/- looks much less than what i sud be eligible for 1st AC class train fare.(number of person travelling are 4, cost x 4).
Now where can I find this guidline which had made the finance team come at figure of 8000/- instead of cost that shows in <link outdated-removed> for 4people to and fro jounrey.
From India, Delhi
If the travel was through private cab, will the exemption that needs to be considered equal to that of a 1st class A/C ticket?
If there are different costs for different trains traveling to the same destination which one will need to be considered?
If there are different costs for different trains traveling to the same destination which one will need to be considered?
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LTA Policy.doc