· Leave Travel Allowance (LTA): All of the salaried employees wants to know about LTA as LTA is the generally included in the salaries by the employers due to the tax benefits attached to it. An LTA is the remuneration paid by an employer for Employee’s travel in the country, when he is on leave with his family or alone. The Person who is claiming the LTA must be on leave in order to claim the exemption. LTA amount is tax free under Section 10(5) of the Income-Tax Act, 1961, read with Rule 2B.
Showing posts with label Leave Travel Allowance (LTA) Exemption U/s 10(5). Show all posts
Showing posts with label Leave Travel Allowance (LTA) Exemption U/s 10(5). Show all posts
Thursday, 7 September 2017
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