The tax exemption is limited to the fare component, which is economy class air fare, first class AC rail fare or first/deluxe class bus fare.However, if there is no public transport, you can hire a taxi or rent a car and claim for expenses equivalent to first class AC rail fare. Whil...
LTA stands for Leave Travel Allowance. It is an important component of employee’s wage structure. What does LTA mean at work? Can I claim LTA without travelling? People also look for: Allowances Non Taxable Allowances Dearness Allowance ...
And while checking for its contents found that for City Grouping 40, Wage Type = /4E5(LTA Annual Exemption) and Tax Code = SLTA - there is no entry in the data browser. Though we enter the LTA exemption in 582 the entry is not found here, any ways of correcting it. Thanks in adv...
For HRA Exemption: House Rent Allowance is exempt under section 10(13A) of income tax Act subject to certain conditions. The form asks for amount of Rent paid, name and address of the landlord and PAN number of landlord in case the annual rent paid is more than Rs one lakh. You need ...
Leave Travel Allowance (LTA): Find out the meaning, eligibility, claiming process, exemption limit, section, and stay updated with the latest developments.