LTA | leave travel allowance income tax | leave travel allowance exemption limit for ay 2019-20 |

LTA | leave travel allowance income tax | leave travel allowance exemption limit for ay 2019-20 | leave travel allowance exemption limit for ay 2018-19 | leave travel allowance section 10(5) | leave travel allowance in cognizant | leave travel allowance percentage basic | leave travel allowance meaning in hindi | how to claim lta without travelling

Leave Travel Assistance (LTA)

The following points need to be considered:

·       An Employee may claim the exemption for himself/ herself and his/ her family

consisting of his/ her spouse, children, parents, brothers and sisters

wholly/mainly dependents on him/her.

·       The travel has to be within India.

·       The tax exemption is available only for one journey during a year.

·       The exemption can be claimed for two journeys in a block of four years. The

current block of four years is 2018 to 2021 and next block of four years is 2022 to 2025.

·       For claiming LTA, an employee needs to avail at least 3 (consecutive) Privilege Leaves.

·       The Employee claiming the tax exemption, he/she must travel along with their family members.

·       Exemption is available only in relation to expenses incurred on travel.Other incidental expenditure on hotel accommodation, food etc. are not eligible for exemption.

·       Maximum tax exemption is limited to the amount of LTA payable to you.

The eligible amount shall be arrived at as per the following clauses:

·       Where the journey is performed by air, an amount not exceeding the air economy fare of the national carrier by the shortest route to the place of destination.

·       Where journey is performed by rail; railway fare in first class AC by shortest route to the final destination.

·       Where journey is performed by any mode other than by air or rail, and

the places of origin and destination are connected by rail, then First

class AC fare by shortest route from the place of origin to the place of

final destination.

·       Where journey is performed by any mode other than by air or rail, and

where place of origin of journey and destination or part thereof are

not connected by rail then:

i)       If a recognized public transport system exists between such

places the first class or deluxe class fare of such transport by

shortest route.

ii)     In any other case, First AC class train fare for the distance of

the journey by the shortest route, as if the journey has been

performed by rail.

 Documents to be submitted:

For Air Travel:

1.     Covering letter in prescribed format duly completed and

signed by the Employee.

2.     Original tickets / Print outs in case of e-tickets along

with all the boarding passes.

3.     Extract of approved Privilege Leave record showing that you were on leave

when the travel was conducted.

For Train Travel:

1.     Covering letter in prescribed format duly completed and

signed by the Employee.

2.     Original train tickets.

3.     Extract of approved Privilege Leave record showing that you were on leave

when the travel was conducted.

For Hiring A Vehicle:

1.     Covering letter in prescribed format duly completed and

signed by the Employee.

2.     Original invoice of the travel company along with

acknowledgement of receipt of payment by the travel

company.

3.     Toll Taxes paid during the travel can also be claimed only

against original receipts.

4.     The duty slip of the driver should also be attached.

5.     The Employee shall have to give a comparative train fare from

the place of origin of the journey to the final destination.

Prints out of these details have to be obtained from the

following link: http://www.indianrail.gov.in from Fare Enquiry menu

6.     Extract of approved Privilege Leave record showing that you were on leave

when the travel was conducted.

For Use of Own Car:

1.     Covering letter in prescribed format duly completed and

signed by the Employee.

2.     Original petrol bills.

3.     Toll Taxes paid during the travel can also be claimed against

original receipts.

4.     The Employee shall have to give a comparative train fare from

the place of origin of the journey to the final destination.

5.     Prints of these details have to be obtained from the following

link: http://www.indianrail.gov.in from Fare Enquiry menu

6.     Extract of approved Privilege Leave record showing that you were on leave

when the journey was performed.