I complited my one year tenure in a pvt firm , now I am leaving the compony, I want to take my LTA what to do? My HR dept saying you do have any EL balance so we can not offer you the LTA ,Is it consider in my final settelment.
Re: Can LTA be applied on first year in an organisation?
by Chiranjit Sikdar on Mar 30, 2010 03:06 PM
in the second year you are elligible for 2 LTA.... but tax rebate can be claimed for 1 in each FY....
I applied for LTA in my firm, and gave my bills for taxi service since I made a road trip. The bills were about Rs15000/-. I got a reply from company finance saying that only Rs5600/- can be claimed in LTA since the destination had a train service to that place and as per policy the 1st class AC fare will be allowed in LTA, so by 2800 one side, I was given a tax exemption of only Rs5600. I want to know whether any such policy is there from Indian govt, that no matter the mode you choose to travel to a destination, the minimum fare will be tax exempted?
Re: LTA in a pvt firm
by jethin venugopalan on Mar 30, 2010 02:40 PM
yes there is a rule which says the shortest mode of transport to the destiantion in terms of Expense, so even if you travel by car, air or train ( 1st Class )the least amount of the 3 is considered
Re: Re: LTA in a pvt firm
by vinayak morab on Jul 14, 2010 12:33 PM
what if someone travels mumbai-kochin by air on holidays..which amount will be considered? car or train or air fare?
Article is lame explanation of the rules.. It is not exactly what the rules say.Better one should go thru the service rules of one's deptt and follow minutely.
Do I have to travel by Indian Airlines only(National Carrier)if I am working in Central Govt. and entitled for Air Fare.Also am I allowed Car Rental if the destination is beyond any other mode of transport or do I have to travel by Sarkari Bus.
Re: LTC in Central Govt.
by Nilanjan Majumder on Mar 27, 2010 03:50 PM
No, you are paid for domestic air fares (if your entitlement in the company is 2 AC). You will also be entitled for Bus fares with valid tickets.
You have written that You can even submit the bills issued by the car rental company if you rent a vehicle. I want to know where is it written so that i can show it to my friends in the finance dept who disallows my claim on the same ground.
Re: You can even submit the bills issued by the car rental compan
by Critics on Mar 26, 2010 05:04 PM
True, since people print the receipts on office printer and submit to tax claim.
Book train tickets for self, spouse, children and also parents if you can show them dependents in 1st AC for the longest possible journey that you can justify, take the printout and cancel the tickets and claim LTA.
Mind you claim only after 15 days of "journey date" as thereafter all tickets are flushed out of railways systems and no one can track unless your employers really want to s crew you up.
Re: Simple
by Critics on Mar 26, 2010 05:08 PM
Some companies also ask for any hotel booking receipt or any other proof to cross verify that you have actually visited the place
Re: Re: Simple
by rahul lipare on Mar 28, 2010 12:25 PM
its only becuase of these biz communities that we salaried class have to pay much more taxes. These biz communities have actual turnovers of crore of rupees but thru unfair means pay pennies in taxes and we have salaried class have to bear the burden.
Re: Re: Re: Simple
by Critics on Mar 26, 2010 05:10 PM
These same people will complain that farmers are suiciding, people are dying of hunger. And here they will say how find loop holes to save tax and also tell others to bluff the govt. How can they be on both side of river.
