I need Clarification and What is meant by LTA and to Whom it is Applicable. If only manager cadre and also Executive cadre it is applicable. Can i Know the Salary particulars for whom the Leave Travel Allowance is applicable.
With Regards
B.Sreenivasa Rao
From India, Hyderabad
With Regards
B.Sreenivasa Rao
From India, Hyderabad
LTA - Leave Travel Allowance
Generally everbody can be entitle for the same.
If the salary comes in taxable bracket then the same ( LTA ) can be used in salary component to save the tax.
Trust this will help you!!!
From India, Pune
46Generally everbody can be entitle for the same.
If the salary comes in taxable bracket then the same ( LTA ) can be used in salary component to save the tax.
Trust this will help you!!!
From India, Pune
There is no minimum requirement of salary to be eligible for LTA. But as rightly pointed out, it is usually used to save income tax for higher salaried employees.
From India, Mumbai
From India, Mumbai
To more elaborate on LTA,
- An employee is eligible for LTA after his probation period.
- Normally LTA can be applied after 1 year, as employees earned leaves / privilage leaves gets credited. Minimum leaves to take for LTA are 6.
- If someone leaves without availing LTA though eligible, his due amount is given in full and final settlement.
Regards,
Vaishalee
From India, Pune
- An employee is eligible for LTA after his probation period.
- Normally LTA can be applied after 1 year, as employees earned leaves / privilage leaves gets credited. Minimum leaves to take for LTA are 6.
- If someone leaves without availing LTA though eligible, his due amount is given in full and final settlement.
Regards,
Vaishalee
From India, Pune
No limit is specified in I.T.rules. It is mainly for tax saving. Air/Train/Bus Tkts are considered for tax exemption in shortest routes. In a block year of 4, twice one can claim for tax exemption.
Pon
From India, Lucknow
Pon
From India, Lucknow
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Leave Travel Allowance.doc
The Ins & Outs of Leave Travel Allowance.pdf