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Suppose one gets LTA Rs. 6000 annually. He didn't claim it in first year of block period. Is it taxable in a first year?? In second year he made a trip and incurred Rs. !5,000 on rail tickets. Now on what amount he gets the exemption Rs. 6000 or Rs. 12000 (6000+6000)??
Kindly advise.
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Hi, LTA exemption cannot exceed the amount paid by the company in that year. Warm Regards, Ca Vikas Goel
LTA can be claimed for 2 years in a block years of 4. He can claim upto 12000/- as tax exempted
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