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I'm living in Chandigarh. I travel from Chd to Delhi, Delhi to Goa, Goa to Mumbai, Mumbai to Kolkata, and then Kolkata to Delhi, and then Delhi to Chd. Will all the above air fares come under LTA?
The government is just making a mockery of Salaried people. 2 journeys in 4 years, This is a total joke. Matlab 4 saal kaam karo aur bas 2 Baar ghumne jam. Modi ji thud saal m 10 Foreign visits Krte h wo bhi hamare tax k paise se. Shame on Indian Government.
Government will give you concession on domestic travel only because this money will be spent on Indian's economy(like u go there and spend some money)... Government is not stopping you to travel abroad but they will not give you tax benefit as the expenses are not boosting India's economy
Amazing content. Just love the way Rishabh and Mandeep present the content in such a detailed and easy to understand manner. Keep educating us 🙌. Jagruk Janta
Hi I am still confused....If i travel and come back then it is two tickets....will it be considered as two seperate journey...also if self and spouse can claim for two seperate journeys that is 4 trips or only two journeys together
Nice informative video..How can we remove the LTA component from the salary, provided the fact that I do not have any travel plans in year via train, bus or flight..??
1. Suppose I travelled in May 2018 for which I didn't claim LTA deduction and want to claim that LTA in FY2019-2020. Is it permissible since both events fall in the same block? 2. If the answer to above is negative, then can I claim LTA if I travel in the year 2020 and 2021 consecutively?
I have the similar question. Can we claim previous year travel in current year. And if started taking LTA from current year not in previous year can last year travel be claimed?
What I have got while working for govt job.. if you are claiming LTA, you need to take permission from your DDE in advance. If you have not taken permission, then the office won't be liable for any type of reimbursement of LTA claimed money by you.
Last year govt has changed LTA policy..as per new policy any goods or services purchased post Oct 2020 and whose GST is more than 12% can be claimed as LTA. So I have not submitted those goods bills to my current employer when submitted my income tax proof for the year 2020-21( Apr 20 -Mar21). Post that form 16 got generated. Now can I mention or claim LTA while filling the income tax online.? If yes, how I can submit those bills or will the income-tax department will send any legal notice for this change as LTA was not submitted to the employer directly.
Hi You are terrific! Good video. One quick question, is LTA a mandatory item under the monthly salary structure? Can the company give LTA under the 13th guarantee bonus instead?
A really nice video covered most of my doubts. However i still have doubts about : 1. To and fro is considered as one travel or two travels? 2. Going to your hometown or relative's/friend's place, is this can be claimed under LTA Or only for tourism destinations?
What happens if I don’t exhaust my half of LTA amount in current financial year, can I use the unclaimed amount for my second journey of next financial year falling in same block?
Please tell me according to which rule employers are asking for boarding passes ??. As per my understanding there is no provision or any circular from govt about this. But they just like to the self policing. But i agree people should not try to cheat the system.
i have a question, what if the employer doesn;t have an LTA deduction policy at all, does that mean employee's LTA becomes taxable, now in this case why should employee not mention the same during ITR? it is confusing, ITR website clearly mentions LTA exemption can be availed, which clearly means if you have the proofs, go ahead and claim it during ITR, i cant digest the fact that LTA is completely employer dependent. But you are the tax guru so your knowledge must be accurate
If I travel by air from Mumbai to Jammu, then by road till Delhi and then train from Delhi to Mumbai. Can I claim LTA for Mumbai to Jammu (Air) and Delhi to Mumbai (Train) combined?
Hello sir, I have a question that in my company if I have to claim LTA, then it get deducted from net monthly salary, so is it the process of LTA in every company or it is followed in my company only?
It happens the same way in most companies. You get the deducted money back at the end of the year with March's salary if you don't claim LTA that year.
I work in private sector. My employer provides me LTC eligibility however due to busy schedule and other challenges could not declare the travel details and LTC to my employer in time. Question is in this situation can I directly show the LTC deduction in ITR and keep he journey tickets/proofs handy. Is this acceptable by income tax dept
@@shilpamanocha3195 hey I have one question. I submitted for LTA in my office so does it mean my company will reimburse that amount or will it only help me my tax deduction? Note: LTA is part of my pay slip every month. I don't know how that works.
@@Akshay-Raut so it has already been paid to you as part of salary. It's your money whether you use it for travel or not, it's upto you.Using LTA allowance for the travel purpose helps you gets tax benefit now. P.S-Tax benefit hi milega. Extra Payment nai.
RJ SIR , mera ek question hai, agar mai apne parents ko rent du or usi ghar ka home loan me ,mai co-applicant hu to kya me, home loan exemption or HRA dono claim kr skta hu ?
Doubt: If I go on leave and I travel from Mumbai to Chennai and then return after 7 days from Chennai to Mumbai. So will this be considered as a single journey or double journey ?
I have join the company in June 2023 and my provision period is of 6 month and my provision completed in January 2024. I want to know that could I still get the LTA from company as it is one of the component of my salary.
LTA is taxable if employee is a specified employee!?? Plz explain this point sir. This line is written in Income tax law, in notes What is specified employee as per IT law?
My Employer has rejected my claim: I wanted to travel from A TO C but there's no direct train connectivity, in that case i had travelled from A TO B then B TO C and RETURNED from C TO B THEN B TO A by train, I should get all the cost i was charged of train ticket right ??
Dear sir..very nice information..few questions.. 1. can leh ladakh travel air fare claim in LTA? 2. If LTA is not part for CTC, the. Also can we claim? Can we request employer to give LTA claim.. Regards Asit
I am not able to understand every month about 3750 is adding in my salary slip as a LTA If I don't claim this money, it will be credited my account in the last or it will be collapsed and I will not get anything .
