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If a person has annual eligibility of LTA as 20000. He caryys forward his first year's 20000 to next year and then claims thsi 40000 LTA. will this 40000 entirely be non taxable suppose he holds it for 4 years then claims it once which is equal to 80000 then weather this 80000 is exempted or only 20000+20000 = 40000 is exempted
14th September 2010 From India, Pune
Hi Deepak,
Employee can claim LTA exemption 2 times in a block year (current block year is 2010-2013). Exemption cannot exceed the amount paid as LTA in the current year.
In your case if employee claim Rs.80000 in current FY 10-11 then entire amount will be exempted. Here no matter LTA is paid for last four years or 2 years.
For further clarification plz write me taksh.taksh@gmail.com
14th September 2010 From India, Delhi
In the F.Y. 10-11, employee will not have eligibility of Rs. 80000.
But if carry forwards 3 years LTA and claim the same in fourth year, he can get exemption of 80000 provided he has submitted proper proofs of travelling.

15th September 2010 From India, Mumbai
Read the link for some more details on LTA.
15th September 2010 From India, Lucknow
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