67. LTC: Leave Travel Concession Exemption under Income Tax

LTC: Leave Travel Concession Exemption under Income Tax
00:00 - Introduction
05:09 - Valuation of leave travel concession in India
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#carajkagrawal #ltc #incometax #incometaxact1961 #taxationinindia #exemptions #exemption #caintertaxation #caintergroup1 #csexecutiveclasses #csexecutivelectures #cmainterclasses #cmainterlectures

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[@ankitjha2]

Thank you sir for this amazing sessions ❤️
Today's class was very funny 😂 specially that Children's Exemption part
Solved the example too correctly 🙌

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You're very welcome! I'm glad to hear that you enjoyed the session. It's great that you solved the example correctly 😊🙌

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Sir kash hm Varanasi s hote to aapka aasirwaad le pate bcoz aapke jaisa guru iss jamane m milna is really a blessing 🥺🥺

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You already have my blessings! 😊🙌

[@NoName-me2bq]

This is funniest lec till now 😂🤣🤣🤣 the way you explained sir is amazing, now I'm damn sure I'll never forget about LTC excemption ever😂

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Thank you! Glad you liked it! 🙌

[@Harish-fz9bw]

Sir i am a cs student maine ek famous teacher jo especially cs ke bacho ko tax padhate hai unse ye comcept padha tha par jitna deep aap jaate ho tax mai utna vo bhi nhi gye sir aap great ho aapse padhkar ab thoda income tax ke case circular samajne aane lag gye hai pehle to ignore kar dete the.
Thank you so much sir

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Yes 👍🏻..... I'm really enjoying your lectures sir & your way of teaching keeps the concepts retained in my mind😊

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[@hamidraza7531]

Your teaching style deeply atteched with our heart and brain.

[@manasranjannath6088]

I have enjoyed so much to this lecture. Wonderful conceptual understanding I have got from this lecture about the LTC.
Thank you so much

[@StudyAtHome]

Glad to hear that! You're most welcome and keep watching!

[@ks_sharma09]

Wow sirrr.....❤ Very nice explanation...the way you explain....its awesome 💯... thanks for such lectures...🙏

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You're welcome!😊

[@indalchoudhury8065]

Sir your teaching style is natural. Specifically Hindi is so good.

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[@ritikjaiswal107]

Thank you sir for explaining in detailed way
Yes definitely as far as my concern no one as created a example like you & the lectures of your becoming more interesting the way you taught 👌🏻

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Had we met Sir like you earlier, success would have been achieved.

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yeah sir you teach us in a very effective manner

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Thank you so much sir for these amazing 🤩😍 lectures
Mja aa rha h aur income tax bhi padh le rhi hu ❤❤

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[@Jessy_30086]

Thank you so much sir♥️👀

[@pavank5497]

Great lecture ...
Ltc concept Cleared ...
Got confused in that block concept but eventually i got it cleared ...
.
.
.
Thank you so much sir 🙏🙏🙏

[@StudyAtHome]

I'm glad to hear that the lecture helped clarify the LTC concept for you! It's normal to feel confused at first, but I'm delighted that you eventually understood it.

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Sir cant express how beautifully u express everything aand it is conveyed to us in such a manner we love u sir thanku sooo much i have takem classes earlier from another faculty but couldn't understand anything aand not aable to recall anything and now i can understand everything and recall its your maagic sir thanku ❤❤🎉

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Awesome method of expressing things... g8 sirji... thanks

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thank u so much sir jii🙏🙏 best conceptual session ever.....

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thanks sir for these excellent classes

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Best teacher for taxation thankyou sir

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[@rohansahu9662]

As usual wonderful class sir,
But expected more questions related to the LTC especially that block one and carry forward.

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💯🔥 lecture Guruji

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Really enjoyed the lecture sir.

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Amazing session sir
Concepts with fun😂❤

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Wonderfully understood! Sir❤

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amazing lecture sir ji

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[@rimpasantra6481]

Sir cls bohut acha tha pura concept clear ho geya 😊 cls mein previous year ka question vi karwan deten to bohut helpfull hota

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Previous year questions are covered in classes with changed name and figures.

[@vikramadiga6372]

Hello sir good class and your gst playlist is applicable 2024 ca inter attempt

[@StudyAtHome]

Thank you!
Yes, you can watch the GST Playlist for 2024 exams as amendment lectures will be uploaded soon: ua-cam.com/play/PLyY2ccCWylAozEb7wfWYjPAJjCiKoNRP4.html&si=uxmRJKUnJw4U2IaF

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Guru g mai apko charno chhu rha hu ,kirpa aashirwad dijiye,aap mhaan hai .❤❤❤

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sir aaj maza aagya 😂😂😂😂
Btw amazing lecture ❤❤❤

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Glad you liked it.

[@vishalgoel5951]

Nice Sir

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Thank you!

[@girishbasrani6475]

sir leave travel perquisite hn ki allowane kyuki perquisite mein to benefit in kind or Amt received equal to actual expenditure milta hn or LTC meoin to employer paisa de or employee ghumne na jaye or apne pass rakhle to as allowance hogaya kyuki actual exp se zada milgaya

[@DeepakSingh-pv4cw]

sir aap 2024 ka best gift ho....ca aspirants k liye❤

[@StudyAtHome]

Thank you so much! 😊🙌

[@Harish-fz9bw]

And also for CS aspirants

[@Parnab75]

Sir carry over of LTC ka provision and example galat hai module mein. Exam mein konsa kare ? Please help 39:08

[@venturous_assaulter2396]

Deepness of Marina Trench ❌
Deepness of Raj Sir's Concept ✅

[@StudyAtHome]

Thank you!

[@SHARMA_004]

Sir annually exemption hai ya multiple times mil skti hai annually

[@srikanthsarvepalli2822]

Sir, one query
Can an employee claim LTA in ITR, even if it is not mentioned in Form 16

[@user-rp4io3vn8d]

Sir will the question specify the amount of train fare, deluxe fare, and fare of the national carrier or we have to make an assumption on that.

[@nandk1981]

Can I claim LTC exemption for F.Y. 2023-24, If I get the full reimbursement from my Employer for the year 2023-24.

[@Priya78943]

Sir isme return fare nahi consider karenge

[@partha146]

Multiple birth after one child, this example is funny sir 🤣🤣 ..

[@StudyAtHome]

😇

[@roshanchourasia2721]

sir c/f of LTC in next block can be allowed in any calender year in next block not need to be in first calender year as per icai material example im quoting it here
Example:
An employee does not avail any LTC for the block 2018-21. He is allowed to carry forward maximum one unavailed LTC to be used in the succeeding block of 2022-25. Accordingly, if he avails LTC in April, 2023, the same will be treated as having availed in respect of the block 2018-2021. Therefore, he will be eligible for exemption in respect of that journey and two more journeys can be further availed in respect of the block of 2022-25.

[@kuldeeppianowala172]

Sir residential status me previous year 23-24 me leap yr ka din bhi count karna he kya
Matalb feb me 29 din lene he kya ??

[@StudyAtHome]

Yes. If you take 28 days in Feb for leap year, your ans would be wrong

[@nripendraku]

31:22 Right sir ❤😊

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👍

[@KrishnaRoy-ek4io]

Hare krishna sir... Waise mujhe pata h ki apke jaisa koi tax nahi padhata par apke kehne par maine apne friend se itna detail m pucha aur usne answer v kardiya... Fir mujhe baad m pata chala ki wo v aapke hi lec dekhti hai 😂

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Hare Krishna! Lagta hai apke friend tak mere lectures ki khabar pahuch gayi hai 😄

[@KrishnaRoy-ek4io]

@@StudyAtHome hn sir 🤗😂

[@vn516]

Sir, please correct me if i am wrong. Just to clarify, i think at 35:30 you meant "jan, feb & mar of 2026 and not 2025. Thanks

[@StudyAtHome]

No, it's 2025 only. Listen again and you will get that.

[@neerajsharma-ei2jd]

Sir what is difference between Leave Travel concession and Travelling Touring and Accomdation.

[@StudyAtHome]

LTC: Tax-free benefit for employee vacation travel within India.
TTA: Generic term for all travel & accommodation expenses (tax deduction possible but not guaranteed).

[@RohitAnchaliya-2001]

Sir If we visit any place in india like Andaman then will Cargo[ ship] fare is recognised transport facility or it will fall in 4th case no facility available

[@StudyAtHome]

It will fall in 4th category (where no recognized public transport exists).

[@BuntyKumar-sc3td]

Gjb sir but next video choose next route ❤❤❤❤❤

[@StudyAtHome]

Sure 👍

[@parveendaraksha2191]

ICAI study materials questions are not covered in this session?

[@StudyAtHome]

Yes covered. Examples covered with provision in each class, illustration at the end of chapter.

[@statuswithkanha9374]

For example employer gives Ltc- 2 lakh
Fare of national carrier -3 lakh
Amount spent on fare- 2.5 lakh
What amount of exemption should I claim

[@StudyAtHome]

2 Lakh. Exemption can never exceed income.

[@aditisrivastava8533]

48:31 LTC ka explanation chahe bhi to nhi bhool sakta😂😂😂😂😂😂 funniest lecture 😂

[@StudyAtHome]

Glad you liked it! 😊

[@gyanaranjanswain4973]

Sir what is the significance of the date oct 1,1998 in this context?

[@StudyAtHome]

Government ne issi din nara laya tha "Hum do, humare do"

[@CMBABDULAHAD]

Sir, icai book m ," on or after 1-10-1997 h in place of 1-10-1998.

[@StudyAtHome]

1.10.98 is correct

[@StudyAtHome]

You must have seen that 1.10.97 is the date after which this exemption is prevailing. You don’t need this date, as you simply need to know that this is the current law.
Read the note just before illustration 11 in your module, you will find reference of 1.10.98 for child birth date.

[@priyankanayak2594]

Sir Income from salary ke aur kitne parts ayenge???

[@kgrvkt]

6 Hrs 47 Minutes ke aur lectures aayenge, 12 videos more.

[@trilokchandrafulara7831]

Ush ltc ka kya jo last year ka hai pr next finanical year mein credit hua ho or ush year ka bhi ltc mila ho kyu ki centrao govt 1st 8 years mein ltc deta hai fhir block year wise deta hai

[@trilokchandrafulara7831]

Exemption k related pucha hai mene kya dono ko exemption le sakte hai

[@asthachauhan8785]

Sir jaise children ki limit h aise agar spouse agar ek se zyada ho toh uski LTC me koi limit nhi h? (Like muslim religion can have this case)
Disclaimer for commentators: Not intended to oppose any religion's sentiments , just maintaining clarification to the question.

[@StudyAtHome]

Good Question. I think law couldn’t dare to put such restriction.
However, this deduction would be required if employer pays LTC for more than 1 spouse.

[@shrikrushnapalke9191]

❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤

[@StudyAtHome]

🙌🙌🙌

[@ranju.7834]

Doing this much difficult or confusing exemption better they don't give any exemption atleast that will be easier for ca exams🙂 😂 but anyway thanks for your teaching and making this easier for us sir🙏

[@StudyAtHome]

You're Welcome! Glad to know that you liked it😊

[@melchior_sharma]

43:05 sir factory khol rakhi hai kya😂😂

[@piyushchourasiya4440]

1997 m 10 bachche is too good 😂😂😂

[@tanyasingh2955]

Sir ye sab kitabi baatein hongi na kon itna sab uar chej ka allowance and perquisites ka hisab rakhta hoga unless and until u have a lot of wealth Varna normal ke liye itna sab nhi hoga na?

[@StudyAtHome]

Those who have high salary, only they get these perquisites.

[@sidd_0]

49:18 😂😂😂 kota factory

[@tezz_shorts]

Sir, aapne yeh nhi btaya k bacha ek hi wife se hona chahiye ya alag alag wife se hona chahiye 😂😂

[@nareshtrivedi6385]

Other classes me students wrong assume kar lete he kyu ki itni clarity koi nahi dete

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I'm glad to hear that the clarity in my teaching stands out for you.

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Hululu😂

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Gift 😂

[@itsme-sneha]

Thank you so much sir 😊

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Most welcome 🙌🏻

[@niranjanas4383]

Thank you sir

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Welcome