Dear All Expert,
Recently I joined a new Organization. There I have got LTA facility, which credited in every-bodies a/c at time of Durga Puja Festivals which is our main Festival. But as per company's personal norms, every body get LTA after Confirmation.
So, let me know that,
1. "What is the actual calculation norms of LTA in a private limited Organization ??? "
2. "As per Laws, why company paid LTA to his employee ??? "
Wait for your reply.........
Regards,
Pratap Kar
Kolkata
From India, Calcutta
2Recently I joined a new Organization. There I have got LTA facility, which credited in every-bodies a/c at time of Durga Puja Festivals which is our main Festival. But as per company's personal norms, every body get LTA after Confirmation.
So, let me know that,
1. "What is the actual calculation norms of LTA in a private limited Organization ??? "
2. "As per Laws, why company paid LTA to his employee ??? "
Wait for your reply.........
Regards,
Pratap Kar
Kolkata
From India, Calcutta
LTA is to encourage tourism and govt has exempted the travel exp (tkts only) from income tax (twice in a block of 4 yrs). LTA travel tkts exemption can be claimed for self & dependents. Pon
From India, Lucknow
From India, Lucknow
Dear Pon, I think its not clear in front of me........ Actually I’m not a professional on this field........ And also, which question I want to,,,,, those are ??? Regards, Pratap
From India, Calcutta
From India, Calcutta
1. No norms for LTA. It is companies discretion. 2. No law stipulate for LTA but tax exemption available as per I.T. rules. Hope it is clear. Pon
From India, Lucknow
From India, Lucknow
Dear friends, We agree with Mr. PON. Norms of LTA differ from Company to Company and are the part of Welfare policy of the Companies. As regards to tax, IT Rules are applicable. Regards. IK Arora
From India, Delhi
From India, Delhi
OK, as per both of Your opinion please clarify me one thing :-
Suppose One PVt. Ltd. Organization told his employee at the time of joining that, "Company will release LTA to his all employes at the time of Festivals along with Bonus. But its not mandatory that employes make his journey.......
Not mandatory to submit fare ticket....... So Let me know that, how to Company Calculate LTA amount for a employe ???
Wait for your reply.........
Regards,
Pratap
Kolkata
From India, Calcutta
Suppose One PVt. Ltd. Organization told his employee at the time of joining that, "Company will release LTA to his all employes at the time of Festivals along with Bonus. But its not mandatory that employes make his journey.......
Not mandatory to submit fare ticket....... So Let me know that, how to Company Calculate LTA amount for a employe ???
Wait for your reply.........
Regards,
Pratap
Kolkata
From India, Calcutta
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LTA (REDIFF).doc
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