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Travel & save tax ✈️ 📍LTA is an exemption for allowance received by an employee for travelling on leave 📍 Actual journey is a must to claim the exemption 📍Only travel within India is considered for exemption 📍The exemption is available only in actual travel costs and no expenses such as conveyance, sightseeing, accomodation, food, etc are eligible for this exemption 📍If the journey is performed my air, the amount is restricted to air economy fare by the shortest route 📍 Exemption is availa
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Most Important Tax Deductions For Salaried Person - Part-2 ✌️ 🔵 Section 10(5) : Leave Travel Allowance (LTA) LTA is a type of allowance given by an employer to their employee for travelling to any place in India either on leave, after retirement or after the termination of his service. LTA Exemption is allowed for any 2 Journey in a Block of 4 Years. It is allowed only for Domestic Journey and Actual Journey is mandatory to claim this exemption. It can be claimed for Self, Spouse, Children, Dep
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