Saswatabanerjee
Partner - Risk Management
Manager At TopSource
Payroll Outsourcing, Online Leave Management
Pon1965
Construction
Sunnychadha
Developer
+1 Other

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Hi All,
I have choosen LTA and Telephone bills reimbursement in my salary package structure for this financial year 2011-2012.
LTA - 30000 RS
Telephone - 24000 RS
My company is not paying this amount in the monthly salary. It will be paid only if we submit the bills.
Will this amount be paid to us in the last month of the financial year(March) if I don't submit the bills?

From India, Hyderabad
If you are not submitting proof for claiming LTA, it will be paid to you at the end of the year and the income is taxable. pon
From India, Lucknow
Hi,
If you are not submitting the bills for LTA or Telephone reimbursement, then the amount will get accumulated and paid to you at the end of the year i.e. in March.
Let me know if I can help you any further.

From India, Pune
This would depend on your company rules.
Normally, telephone reimbursement will be denied and will lapse if not claimed on time. Most companies even need this done on monthly basis.
Lta, most companies will give without proof of travel, but it will be fully taxable in such a case.
You will need to ask your HR department whether you can change the structure and when. Mostly the change will be allowed after your next approval. Depends on how flexible your company is.

From India, Mumbai
No provision as per I.T. guidelines. If company pays the bill, you are exempted and it will not be reflected in your gross income. pon
From India, Lucknow
Just to clarify,
A salaried person can not claim any expense as a deduction from income for income tax purposes. What ever is paid by the company, on the other hand, if falling under definition of perquisites, will get added to his income for tax purposes. Fortunately, payment of telephone or mobile bills is deemed to be solely for business purposes and not taxable as perquisites. However, if telephone bills are reimbursed to you instead of paid directly by company, it may be added to your salary by the income tax officer. So that is avoidable.

From India, Mumbai
Even i had the similar query. I am not getting paid for LTA and Telephone reimbursement.
It will be paid only if we submit the bills.Will this amount be paid to us in the last month of the financial year(March) if I don't submit the bills?

From India, Guntur
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