PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Executive Hr & Admin
Deputy Manager - Hr
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LTA is an discretion of an management which is availed on a yearly basis for Tour/trip/vacation.Here alternate year is taxable. DA is fixed based on the salary category and conveyance is fixed based on the nature of job. You if think you want to pay your employee's transit/travel, you can add an re-imbursement part and pay as actual depends on the mode of trnasportation. What we doing is, all employees are eligible for re-imbursement that is Rs.3 for two - wheeler and Rs. 6 for four wheeler on an offical trip.
Please share in your salary structure employer has mentioned LTA as salary head??
* If yes than employer has to accept the LTA claims from the employee for tax benefit
* If no than no need to accept the claim.
Its my personal view based on experience, please take the decision on more view point of seniors.
From India, Pune
kamesh333There is no linkage between LTA & reimbursements. Reimbursements are the amounts what the employee spent on company work, actually some of the companies pay advances to the employees to meet the expenditure and on completion of the tour the employee will submit the bills against the advance taken and settle the accounts.
The LTA is part of employee benefits. Considering the Income Tax exemptions / to make employee spend time with their family the LTA is fixed and the amount will be paid under the Income Tax rules hence these are two different components.
Regards - kamesh
From India, Hyderabad
thakur shailendraDear sir
thanks for your reply . as u asked there is no salary head in salary structure like LTA . And also we didn't mentioned in appointment letter. but still some employee is asking for same . as i told you we are paying conveyance and incentives every month (reimbursement)so its very difficult to take decision that we should pay or not !!!!!!!!!!
From India, Mangalore
Without salary head how could your employer pass LTA?
If your employer not providing LTA facility than how can employee can avail the same benefits?
Inform your employer to change your salary structure and put LTA as salary head.
From India, Pune