Dear Talwarg, If LTA is included in your CTC, the employer should provide and you have to submit the supported documents to exempt the tax. Regards, Bem
From India, Bangalore
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From India, Bangalore
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If your terms of appointment promise LTA as part of the annual package, then you are entitled to claim. Income-tax rules may tax it, but this cannot change the employer's obligation, unless, of course, the company has decided to cut entitlements, in which case it is a renegotiation of the compensation package. I am sure there would be other aggrieved colleagues with you on this. I suggest you discuss with them what they have done about it. Afterward, discuss it with your superior or director.
Regards,
Shankar
From India, Hyderabad
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Regards,
Shankar
From India, Hyderabad
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Hi all seniors,
Working in the real estate sector involves residential and commercial projects. Regarding the show cause format, one of the employees, who is involved in direct sales and is on the company's payroll, has cheated the organization.
He was found in contact with the brokers and misused the process by selling our flats through direct marketing but putting the broker's stamps on the form. Consequently, the booking would be credited to the broker's account.
Upon discovering this misconduct, the management now requires a justification for these actions and has requested a letter to be issued. Could any of you provide me with the format or the draft for this purpose?
Thank you.
From India, Delhi
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Working in the real estate sector involves residential and commercial projects. Regarding the show cause format, one of the employees, who is involved in direct sales and is on the company's payroll, has cheated the organization.
He was found in contact with the brokers and misused the process by selling our flats through direct marketing but putting the broker's stamps on the form. Consequently, the booking would be credited to the broker's account.
Upon discovering this misconduct, the management now requires a justification for these actions and has requested a letter to be issued. Could any of you provide me with the format or the draft for this purpose?
Thank you.
From India, Delhi
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What MR. KAMESH SAYS IS 100% CORRECT, First you check with your HR people and than you decide. Murugan B HR Manager Hospitality Industry
From India, Madurai
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From India, Madurai
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Mili, LTA is being abused by max. companies now. One has to be very judicious about it. Thats why people are now looking at In-Hand Salary & not at CTC. Regards, Niky
From India, Raigarh
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From India, Raigarh
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Pls.. advice when i claim my LTA in block of two years will I be claiming only for one year or for both the years together. as our HR says you can only claim for 1 year after completion of two years.
From India, Gurgaon
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From India, Gurgaon
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Assume that the annual LTA committed to you as per the appointment letter is Rs. 10,000 per year. You should receive Rs. 10,000 every year. It will be taxable twice and tax-free twice in the block of four years, as per income tax rules.
If the company says they will only be paying LTA twice in the block of 4 years under the pretext of income tax provisions, then they should pay double, i.e., Rs. 20,000 twice in the block of four years. The company should not be concerned about income tax. Income tax is paid by the employee and not by the company. They should pay Rs. 10,000 every year as committed; you will end up paying a maximum income tax of 30% on Rs. 10,000.
"Please advise: when I claim my LTA in a block of two years, will I be claiming only for one year or for both the years together? Our HR says you can only claim for 1 year after the completion of two years."
From India, Pune
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35If the company says they will only be paying LTA twice in the block of 4 years under the pretext of income tax provisions, then they should pay double, i.e., Rs. 20,000 twice in the block of four years. The company should not be concerned about income tax. Income tax is paid by the employee and not by the company. They should pay Rs. 10,000 every year as committed; you will end up paying a maximum income tax of 30% on Rs. 10,000.
"Please advise: when I claim my LTA in a block of two years, will I be claiming only for one year or for both the years together? Our HR says you can only claim for 1 year after the completion of two years."
From India, Pune
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Dear friend, As per the Rule the Originally LTA block Period is of two year, HR might have made it alternate of one year. you can get a explanation from your department. Ajit
From India, Pune
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From India, Pune
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There are some options to avail LTA, each having some conditions. If you want to avail LTA yearly, there will be a deduction of tax. In a block of 2 years, there will be no tax deduction, but you have to produce journey documents (ticket, bills, etc.) and leave availed.
From India, Raipur
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From India, Raipur
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