LTA Claims - CiteHR
Cite.Co is a repository of information created by your industry peers and experienced seniors sharing their experience and insights.
Join Us and help by adding your inputs. Contributions From Other Members Follow Below...
Dear Talwarg, If LTA is included in your CTC, the employer should provide and you have to submit the supported documents to exempt the tax. Regards, Bem
If your terms of appointment promises LTA as part of annual package; then you are entitled to claim. Income-tax rules may tax it, but this cannot change employer's obligation. Unless of course the company has decided to cut entitlements, in which case it is a renegotiation of compensation package. I am sure there would be other aggrieved colelagues with you on this. Suggest you discuss with them on what they have done about it. Thereafter discuss it with your superior or director.

Hi all seniors,
Woking in a real estate sector into residential and commercial projects.
sub: format regarding show cause.
one of employee who is into direct sales and on payroll ofthe company has cheated the organisation.
- he was found in contact with the brokers.
- he used to sale our flats as direct marketing but put the stamps of the broker on the form and submit to the company so that the booking can be booked in broker account.
but somehow we came to know about this ,and know the management wants the justification for the same and have ask to issue a letter.
can anyone of you provide me the format or the drafting for the same.

What MR. KAMESH SAYS IS 100% CORRECT, First you check with your HR people and than you decide. Murugan B HR Manager Hospitality Industry
Mili, LTA is being abused by max. companies now. One has to be very judicious about it. Thats why people are now looking at In-Hand Salary & not at CTC. Regards, Niky
Pls.. advice when i claim my LTA in block of two years will I be claiming only for one year or for both the years together. as our HR says you can only claim for 1 year after completion of two years.
  • Assume that annual LTA committed to you as per appointment letter is Rs. 10000 per year.
  • You should get Rs. 10000 every year. It will be taxable twice and tax-free twice in the block of four years, as per income tax rules.
  • If company says they will be paying LTA only twice in the block of 4 years under the pretext of income tax provisions then they should pay double i.e. Rs. 20000 twice in the block of four years.
  • Company should not bother about income tax. Income tax is paid by employee and not by company. They should pay Rs. 10000 every year as committed, you will end up paying max. income tax of 30% on 10000.

Dear friend, As per the Rule the Originally LTA block Period is of two year, HR might have made it alternate of one year. you can get a explanation from your department. Ajit
there are some option to avail LTA and each having some conditions.If you want to avail LTA yearly there will be a deduction of tax, and in block of 2 years there will be no tax deduction but you have to produce journy documents(ticket,bills,etc.) and leave availed.

This discussion thread is closed. If you want to continue this discussion or have a follow up question, please post it on the network.
Add the url of this thread if you want to cite this discussion.

About Us Advertise Contact Us
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2020 Cite.Co™