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lathakiran
Hi,
Can some one share the latest LTA Policy and government rules regarding the same.
Can the Cab bills be accepted along with Air/Bus/Train Bills? I receive mixed feedback. So It would be great if some one can help me.
Regards,
Kiran

From India, Hyderabad
lathakiran
Thanks for the info.
I have couple of other questions.
1) For example an employee is not availing the LTA in the current financial year, where as he is planning in the second year. Can this amount be retained by the organization and can the employee use the accumulated amount together? Or should organization refund back the LTA the same financial year end.
2) Can LTA amount be reimbursed in the beginning of the financial Year? Or should we wait till the last month of the finanical Year as we are not sure if the employee continues to work? What is that organizations usually follow.
Regards,
Kiran

From India, Hyderabad
pon1965
604

Kiran,
Production of bills for the tax exemption purpose only. No need to hold the money towards LTA. IT exemption can be claimed 2 times in the block year of 4 yrs. The current block year is 2010-2013.
LTA needs to reimbursed at the end of FY.
pon

From India, Lucknow
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