I have travelled from Mumbai to Bengaluru and adjoining areas on my self-driven car. Can I claim LTC for the same. If so, how do I do that.
From India, Pimpri
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From India, Pimpri
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Dear ANONYMOUS Friend,
LTC claim is not as per any statute but it is as per your company's policy and rules & regulations thereunder. So this forum cannot tell you anything about your company's policy. However, LTC claimed by you entitles you to Income Tax exemption twice in a block of four years subject to certain conditions and rules. You need to produce bills for your travel expenses as follows:
- If you travel by air, an economy class fare of the Airlines is allowed as an exemption.
- If you do not travel by air and the places are connected by rail, AC First Class Rail fare is granted as an exemption.
- If you do not travel by rail or air and the places are also not connected by rail or air, where a recognized mode of transport is available, the First or Deluxe Class fare of such transport is allowed as an exemption.
- Where a recognized form of transportation is not available, an amount equal to the AC First Class Rail fare (considering the distance of the shortest route) is allowed as an exemption.
Under the circumstances, you are not entitled to Income Tax exemption on your travel from Mumbai to Bengaluru and adjoining areas by your self-driven car.
From India, Mumbai
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2636LTC claim is not as per any statute but it is as per your company's policy and rules & regulations thereunder. So this forum cannot tell you anything about your company's policy. However, LTC claimed by you entitles you to Income Tax exemption twice in a block of four years subject to certain conditions and rules. You need to produce bills for your travel expenses as follows:
- If you travel by air, an economy class fare of the Airlines is allowed as an exemption.
- If you do not travel by air and the places are connected by rail, AC First Class Rail fare is granted as an exemption.
- If you do not travel by rail or air and the places are also not connected by rail or air, where a recognized mode of transport is available, the First or Deluxe Class fare of such transport is allowed as an exemption.
- Where a recognized form of transportation is not available, an amount equal to the AC First Class Rail fare (considering the distance of the shortest route) is allowed as an exemption.
Under the circumstances, you are not entitled to Income Tax exemption on your travel from Mumbai to Bengaluru and adjoining areas by your self-driven car.
From India, Mumbai
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Most governments have stopped LTC by private cars for employees due to fraudulent claims, etc. If you are a government/PSU employee, check out your LTC rules.
As far as private companies are concerned, it varies from firm to firm.
From India, Pune
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As far as private companies are concerned, it varies from firm to firm.
From India, Pune
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Thanks for your response. Our company has 10 employees, and I am the only person who has the benefit, with no guidelines set by the company. Can somebody share guidelines from their respective company.
From India, Pimpri
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From India, Pimpri
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Dear Friend,
The claim for LTC does not fall under any specific act or laws, but rather is governed by the policy of the establishment. As per your clarification, you should check with your HR department. They will inform you about how they reimburse the amount you are entitled to.
The LTC policy varies among establishments. In my case, my establishment now includes my share of LTC in my monthly salary. Previously, it was paid annually against five earned leaves.
From India, Mumbai
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The claim for LTC does not fall under any specific act or laws, but rather is governed by the policy of the establishment. As per your clarification, you should check with your HR department. They will inform you about how they reimburse the amount you are entitled to.
The LTC policy varies among establishments. In my case, my establishment now includes my share of LTC in my monthly salary. Previously, it was paid annually against five earned leaves.
From India, Mumbai
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Thanks, Prabhat.
Just to clarify, I don't have an HR department in India, and the HR is located in a different country where they don't understand the processes. My employment with that organization will only be until August '18, so I need to understand the general LTC rules.
From India, Pimpri
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Just to clarify, I don't have an HR department in India, and the HR is located in a different country where they don't understand the processes. My employment with that organization will only be until August '18, so I need to understand the general LTC rules.
From India, Pimpri
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