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LTA: Leave Travel Allowance |Calculation & income tax exemption
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- Опубліковано 15 сер 2024
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Leave Travel Allowance or LTA may or may not be a component of your salary. Learn what are the conditions for LTA, what exemptions you can get under it, how you can claim it and some good tips and tricks to use it.
Read about this in English: labourlawadvis...
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Chapters:
00:00 Introduction
02:14 What is Leave Travel Allowance (LTA)?
03:10 Conditions for claiming LTA
04:26 Eligible LTA exemption
06:20 Travel conveyance coverage
07:52 Block of year
10:21 How to claim LTA?
11:16 Tips & tricks for LTA
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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.
I think govt should get away with block years concept, Shortest distance concept, and also domestic travel only concept just to make the rules simple
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
If I have travelled during tenure of of my previous employer, Can I claim that LTA from my current employer?
what about LFC, where employee gets train/air fare along with the option of 15/30 PL encashment depending uopn the block 2yr or 4yrs
Traveling to North India this February (2021) with friends (not family as per IT act) haha.. Thank you for your video
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.
Sir mana ki travel mein 25k expenses huve to bill submit karneke bad 25k company degi ya nahi?
Is it mandatory to apply for leaves in the same travel duration. I mean if I do work from home.
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
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.
If I go to my native place by my own car for vacation taking office leaves. Can I apply for LTA with petrol bills and tolls receipts.
Same question
If I ask my employer to add LTA as component of my salary, will it impact my take home or in hand salary?
Best channel for all financial information. I can trust this voice blindly 😅
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..??
How about - agr there is connecting flight between station A and B via C as no direct flight by Air india. In that case can we claim?
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?
Ydi LTA milta hi nhi h employer ki trf se to kya hm jitne ka ticket h utne rupees ko itr me travelling bale block me show krke tax km kr skte h ?
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?
I checked the Section 10(5) of Income Tax Act 1961, it's nowhere mentioned that the upper limit on the number of children should be 2.
It is there in rule 2b which has to be read along with sec 10(5)
Can we claim LTA at the time of ITR as well or we only can claim by the employer
Only by employer
I forget to show my LTA expenses to my employer and its not present in my form 16. Can i show that amount while filing ITR ?
Suppose in one journey we are travelling 2 place like delhi -> Dehradun-> rajkot
Will I be eligible for all the amount travelled during this journey
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 ?
This is super simple and awesome.
What if, I'm traveling to my home town from place of work, is that considered under LTA?
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
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.
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 ??
Suppose if i travel to X by air and cover places in X state, am I eligible for claiming cab cost too?
Sir I'm govt servent.... I want to know wheather travelling expenses ( bus nd train fare) paid under LTA is exempted in new income tax regime???
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?
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 ?
Single
Dsssb mein travel allowance milta hai to kya iss par exemption le skte hain?
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
Some employers block the entire money and won’t show LTA deductions in the salary
Is cruise trip covered under LTC tax exemption claim?
I miss to submit travel bill to emplyer..can i avail exemption while filling itr
What is LTA return Deduction?
Is it refundable & How?
I have travelled on 2019
Can i claim it now?
Thanks bro for the best info 👍👍👍👍😀
Can we claim petrol bills if travelling by Car during leave.
क्या जवाब मिला
My wife is having LTA in her CTC letter but her salary is under 5LACS (non taxable). Can she ask for claim to employer ????
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.
Hi Labour law team
Now in ITR also we can claim LTA, Please update me if I am wrong
In case I have traveled through Indigo or Vistara, can I still claim LTA?
I traveled in Mar'22 Can I claim this for the current year?
My employer not provided me the LTA but I have spent money on travel , can I claim LTA on my IT returns ?
Hi, if we travel by personal vehicle say Car, can expenses on fuel be exempted ?
@rishab ji... What if we go on our personal vehicle.. what is the exemption we get
car expensess can be covered in LTA
Love you sir thank you for every knowledgable videos
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?
To and fro is 1 travel. Also, to answer your 2nd question, yes, you can claim it if you have the proofs.
Hey, If we do not claim LTA, will the amount get collapsed? when will we get it back in salary?
If LTA is a part of my salary then will it be deducted from my in hand salary.?
No but tax will be deducted on it if it not claimed for LTA.
Upon claiming you can only save tax
@@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.
How to claim it in itr2, not able to show due to multiple employer changes?
hello sir, can you please guide me.
i have just resigned from my job and in past 2 years i have never claimed LTA from my Employer. so now in final settlement whether i am eligible or not to claim my LTA money as a final due amount.
I have never claimed LTA. Can I claim now with Air ticket of 2020? and how many times can i claim?
I travelled by bus to Jammu and then by air to kashmir and vice versa.....am i eligible to claim full LTA or only till jammu by bus
I have travelled in 2020 Feb ... in which financial year LTA should be calmed???
Hi, Is it applicable only for business purpose?
any holiday trip with family
My employer has added LTA in wages of every month, now how to claim LTA? I mean i cannot show that amount in ITR?
Nopes, LTA cannot be claimed in ITR
Great Video. Got one query. How many days (minimum) leaves required for claiming LTA??
3 days
Ghar jate hai wo claim kar sakte hai kya?
if lta is not reflected in form 16 then can we still claim it while filling itr?
If I received 1 lakh lta per year then how much amount I can claimed for exemption for 2 years ? Is it 2 lakh
if company not provided the LTA we can claim the LTA or not
What is the current block ?
I am unemployed but still watching this video
Sir very nice explain
Aapne jo batay example us me 18 me last year ka or 2020 me us current yera ka or usme ek or LTA le sakte hena?
C. Negotiable Instrument Act 1881
Only air india flight is considered in lta, or other companies flight also considered?
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 .
is LTA applicable for cousine brothers and sisters?
Sir, what if before joining my new employer, I travelled to Udaipur, can I claim that travel cost?
Travel by own car is eligible for LTA if cities are well connected by Air and Rail ?
Sir kya monthly le sktey hai lta ya annually lena theek hoga Plz bataaiye
Hi, I have planned a travel for me and family,But I will be travelling from my work location to the destination and my family will be travelling from my hometown to the destination. So the flight tickets are for them,not for me. Can I availd LTA gor this?
Agar maine apni company me 38400 / year ka LTA block aaj ki date me declare kar diya and Dec 2021 tak maine koi travel nahi kiya to kya wo paise doob jayenge. Company mujhe jo salary de rahi hai usme se 3200/month kaat kar de rahi hai.
Not sure ki maine apne IT Declaration section me LTA accept kar ke sahi kiya ya galat. Please suggest karein.
Hi LLA Team,
If in the previous block of year a person has not taken any LTA clam, Then 2 clam will be carry forwarded or not ????
background score at 1.15 mins please suggest which is it .
If the LTC is availed but is not reimbursed till now, can we claim deduction under sec 10 in ITR???
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?
Very nicely explained.. Good work
What if my sister is married ? Will she be also considered under/as dependent sibling ?? Plz help to confirm on this..
What if I do not submit any claims for LTA and my yearly LTA is Rs.30000?
Can I claim LTA, if I travel with personal vehicle.
Is there a max limit for LTA that an employer can allow? Any formula on Basic or Gross?
If we go with own car for 1 week Goa Trip , how we can apply for LTA. ???
Can I claim LTA of travel in 2019 in X organization and claim in 2021 for Y organization
Will airfare ,postpaid ,ola bills are considered for exemption LTA is not part of my salary still i can claim.
The biggest problem is companies ask for Atleast 3 days for travel with leave along with copy of leave approval mentioning that travel will be used for leave purposes
Bhai Friday off leke ghumne jaate h log😂
My company provides my LTA on annual basis suppose 100RS annual. Can I claim LTA 200RS second year of block year?
Can I claim previous years travel, in current year??
Hi sir, is it mandatory that bills or travel tickets should be GST? Can we submit non gst travelling bill in LTA claim?
not mandatory
If a person is travelling by his personal car and not by public transport, how can he claim LTA ?
LTA carryover to next block how to claim
only Air India ticket is considered as proof for claiming LTA?
If I don't travel will I get my LTA component of salary. I don't fall in any tax bracket.