LTA claim for Salaried person

Querist : Anonymous (Querist) 01 April 2010 This query is : Resolved
Dear Panalists,
My query is related to LTA claim for individual salaried person under income tax law. If I heard correctly, sometimes ago Supreme court has given a judgement, for LTA claim there is no need to submit any travel bill, it would be very helpful any one can give some insight related to this.

Thanks,

Follow Query

Report Abuse

Parthasarathi Loganathan (Expert) 01 April 2010
It all depends upon the LTA Rules and Regulations prescribed by the Company. As far as Income Tax is concerned, any leave encashment facility availed by you is treated as Taxable income

Raj Kumar Makkad (Expert) 01 April 2010
I do agree with Partha.

soumitra basu (Expert) 02 April 2010
THE DECISION HAS NOT BEEN UNDERSTOOD BY YOU CORRECTLY. THE DECISION WAS THAT THE EMPLOYER IS NOT LIABLE TO VERIFY EXPENSES FOR TRAVELLING FOR THE PURPOSE OF LTA DEDUCTION AT THE TIME OF DEDUCTION OF TDS. HE SHOULD CONFINED TO THE DECLARATION BY THE EMPLOYEES. IN YOUR CASE , YES, THE AO CAN TRY TO VERIFY THE EXPENSES.

Kumar Thadhani (Expert) 06 April 2010
I think there is no such Supreme Court judgement in respect of your above query.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries