Dear Seniors,
I have read the previous posts about LTA. My present query is as follows:
Suppose if Employee-A is eligible for LTA FY 2010 - Rs. 28000/-; FY 2011-Rs.31000/-; FY 2012-Rs. 35000/- & FY 2013-Rs. 40000/-.
Employee-A has travelled and incurred Rs. 39000/- in the year 2011.
Again he has travelled and incurred Rs. 52000/- in the year 2013.
Query-1
What is the LTA exemption for travel in 2011 - Is it Rs. 31000 (highest of 2010 & 2011) OR Rs. 39000/- (actual cost of travel) OR Rs. 59000/- (total eligible of 2010 & 2011)
Query-2
What is the LTA exemption for 2nd travel in 2013 - Is it Rs. 40000 (highest of 2012 & 2013) OR Rs. 52000/- (actual cost of travel) OR Rs. 75000/- (total eligible of 2012 & 2013)
Request to clarify the above.
Thanks you,
Vijaya
I have read the previous posts about LTA. My present query is as follows:
Suppose if Employee-A is eligible for LTA FY 2010 - Rs. 28000/-; FY 2011-Rs.31000/-; FY 2012-Rs. 35000/- & FY 2013-Rs. 40000/-.
Employee-A has travelled and incurred Rs. 39000/- in the year 2011.
Again he has travelled and incurred Rs. 52000/- in the year 2013.
Query-1
What is the LTA exemption for travel in 2011 - Is it Rs. 31000 (highest of 2010 & 2011) OR Rs. 39000/- (actual cost of travel) OR Rs. 59000/- (total eligible of 2010 & 2011)
Query-2
What is the LTA exemption for 2nd travel in 2013 - Is it Rs. 40000 (highest of 2012 & 2013) OR Rs. 52000/- (actual cost of travel) OR Rs. 75000/- (total eligible of 2012 & 2013)
Request to clarify the above.
Thanks you,
Vijaya