LTA: Leave Travel Allowance |Calculation & income tax exemption

Рет қаралды 230,513

Күн бұрын

Get smarter with Masterclasses by LLA
Capital Gain Masterclass: cg.lla.in
Employee Rights Masterclass: er.lla.in
Tax Planning Course:
📚Payroll, Excel & Labour Law Courses for career growth: lpt.institute/courses/
💸DEMAT Account: link.lla.in/Demat
☑️File ITR with Tax2Win (English): bit.ly/2zIypzk
☑️File ITR with Tax2Win (Hindi): bit.ly/2ZVPaBX
Leave Travel Allowance or LTA may or may not be a component of your salary. Learn what are the conditions for LTA, what exemptions you can get under it, how you can claim it and some good tips and tricks to use it.
Read about this in English: labourlawadvisor.in/blog/leav...
_____________________________________________________
Chapters:
00:00 Introduction
02:14 What is Leave Travel Allowance (LTA)?
03:10 Conditions for claiming LTA
04:26 Eligible LTA exemption
06:20 Travel conveyance coverage
07:52 Block of year
10:21 How to claim LTA?
11:16 Tips & tricks for LTA
_____________________________________________________
PLAYLISTS :
Labour Law Crash Course Series: tinyurl.com/Labour-Law-Crash-...
Money Frauds You Must Know: link.lla.in/LLA-PL-Money-Frauds
Life Insurance Guide: link.lla.in/LLA-PL-life-insur...
Demat Account Guide: link.lla.in/LLA-PL-Demat-Acco...
Income Tax: link.lla.in/LLA-PL-Income-Tax...
Jagruk Talks S2: link.lla.in/LLA-PL-Jagruk-Tal...
Business Basics: link.lla.in/LLA-PL-Business-B...
ABC of Personal Finance: tinyurl.com/LLA-Financial-Adv...
Social Security Schemes: tinyurl.com/LLA-Social-Securi...
_____________________________________________________
Follow us on Social Media📲
Twitter: link.lla.in/LLAtwitter
Instagram:
Telegram: t.me/JoinLLA
Facebook: link.lla.in/LLAFB
_____________________________________________________
📰Get the LLA newsletter for FREE: labourlawadvisor.in/newsletter/
🕵️Employment Consultancy, Contract Review, Salary Structure Review: www.consult.lla.in/
#LeaveTravelAllowance #LTA #LabourLaws

Пікірлер: 256

@LabourLawAdvisor 4 жыл бұрын

☑️File ITR with Tax2Win (English): bit.ly/2zIypzk ☑️File ITR with Tax2Win (Hindi): bit.ly/2ZVPaBX 📚Tax Planning Course: www.taxplanningforsalariedemployees.com/ 📚Payroll, Excel & Labour Law Courses for career growth: lpt.institute/courses/ 💸DEMAT Account: link.lla.in/Demat kzfaq.infogaming/emoji/7ff574f2/emoji_u1f4da.png

@sakshisharma8596 Жыл бұрын

I'm living in Chandigarh. I travel from Chd to Delhi, Delhi to Goa, Goa to Mumbai, Mumbai to Kolkata, and then Kolkata to Delhi, and then Delhi to Chd. Will all the above air fares come under LTA?

@AyushGupta-pc8ue Жыл бұрын

The government is just making a mockery of Salaried people. 2 journeys in 4 years, This is a total joke. Matlab 4 saal kaam karo aur bas 2 Baar ghumne jam. Modi ji thud saal m 10 Foreign visits Krte h wo bhi hamare tax k paise se. Shame on Indian Government.

@ahmedvnit 4 жыл бұрын

I think govt should get away with block years concept, Shortest distance concept, and also domestic travel only concept just to make the rules simple

@surajgupta1993 Ай бұрын

Government will give you concession on domestic travel only because this money will be spent on Indian's economy(like u go there and spend some money)... Government is not stopping you to travel abroad but they will not give you tax benefit as the expenses are not boosting India's economy

@rohithdevatha4199 2 жыл бұрын

Amazing content. Just love the way Rishabh and Mandeep present the content in such a detailed and easy to understand manner. Keep educating us 🙌. Jagruk Janta

@Live_Loud 2 жыл бұрын

Best channel for all financial information. I can trust this voice blindly 😅

@shlokbhansali5044 3 жыл бұрын

Traveling to North India this February (2021) with friends (not family as per IT act) haha.. Thank you for your video

@the6thgear958 3 жыл бұрын

Hi LLA I am travelling in March 1st week. How do I claim LTA provided March payslip would already be decided by then.

@sutarsac 3 жыл бұрын

If I go to my native place by my own car for vacation taking office leaves. Can I apply for LTA with petrol bills and tolls receipts.

@nileshmore1837 4 жыл бұрын

Sir, In my establishment , LTA is fixed from my confirmation. When we asked to increase LTA they denied.

@yatindrasri007 3 жыл бұрын

what about LFC, where employee gets train/air fare along with the option of 15/30 PL encashment depending uopn the block 2yr or 4yrs

@feniljani5516 4 жыл бұрын

Sir very nice explain Aapne jo batay example us me 18 me last year ka or 2020 me us current yera ka or usme ek or LTA le sakte hena?

@suryanarayansubudhi9439 2 жыл бұрын

Hi LLA Team, If in the previous block of year a person has not taken any LTA clam, Then 2 clam will be carry forwarded or not ????

@vishal.chauhans 2 жыл бұрын

This is super simple and awesome.

@kanhiyamishra6658 4 жыл бұрын

Love you sir thank you for every knowledgable videos

@gujarisantamanyugmai Жыл бұрын

Is it mandatory to apply for leaves in the same travel duration. I mean if I do work from home.

@shubhaagarwal5528 Жыл бұрын

What happens if I don’t exhaust my half of LTA amount in current financial year, can I use the unclaimed amount for my second journey of next financial year falling in same block?

@VaibhavBhanawatvaibhan 2 жыл бұрын

I forget to show my LTA expenses to my employer and its not present in my form 16. Can i show that amount while filing ITR ?

@TheCommonManOnWheels 3 жыл бұрын

Nice informative video..How can we remove the LTA component from the salary, provided the fact that I do not have any travel plans in year via train, bus or flight..??

@harpreetsinghsangral2795 4 жыл бұрын

Hi what if LTA is not part of salary break up, can i still claim

@narenkumar9879 3 жыл бұрын

If the LTC is availed but is not reimbursed till now, can we claim deduction under sec 10 in ITR???

@faiyazahmad3192 2 жыл бұрын

Last year govt has changed LTA policy..as per new policy any goods or services purchased post Oct 2020 and whose GST is more than 12% can be claimed as LTA. So I have not submitted those goods bills to my current employer when submitted my income tax proof for the year 2020-21( Apr 20 -Mar21). Post that form 16 got generated. Now can I mention or claim LTA while filling the income tax online.? If yes, how I can submit those bills or will the income-tax department will send any legal notice for this change as LTA was not submitted to the employer directly.

@jyotiranjanadhikary9273 2 жыл бұрын

If I have travelled during tenure of of my previous employer, Can I claim that LTA from my current employer?

@streetwalker7602 2 жыл бұрын

How about - agr there is connecting flight between station A and B via C as no direct flight by Air india. In that case can we claim?

@TheAnkit2112 2 жыл бұрын

If I ask my employer to add LTA as component of my salary, will it impact my take home or in hand salary?

@rrCricketMania Жыл бұрын

Hi, if we travel by personal vehicle say Car, can expenses on fuel be exempted ?

@honeyfunnyful 3 жыл бұрын

My company provides my LTA on annual basis suppose 100RS annual. Can I claim LTA 200RS second year of block year?

@mayukhbhattacharya2031 3 жыл бұрын

I have never claimed LTA. Can I claim now with Air ticket of 2020? and how many times can i claim?

@KWPraveen 3 жыл бұрын

Sir mana ki travel mein 25k expenses huve to bill submit karneke bad 25k company degi ya nahi?

@pasteldreams8 Жыл бұрын

Is there a max limit for LTA that an employer can allow? Any formula on Basic or Gross?

@jayesh27j 2 жыл бұрын

Can I claim LTA of travel in 2019 in X organization and claim in 2021 for Y organization

@mohankrishna4227 Жыл бұрын

My employer not provided me the LTA but I have spent money on travel , can I claim LTA on my IT returns ?

@chiragpatel5665 2 жыл бұрын

Only air india flight is considered in lta, or other companies flight also considered?

@nishapatel-sy3gc Жыл бұрын

How to claim it in itr2, not able to show due to multiple employer changes?

@pavanhegde8969 11 ай бұрын

@rishab ji... What if we go on our personal vehicle.. what is the exemption we get

@wildlifersam9012 4 жыл бұрын

Case of cheque bounce comes under:- C. NEGOTIABLE INSTRUMENTS ACT.

@Drider_900 3 жыл бұрын

Very nicely explained.. Good work

@debaditya1003 Жыл бұрын

I work in private sector. My employer provides me LTC eligibility however due to busy schedule and other challenges could not declare the travel details and LTC to my employer in time. Question is in this situation can I directly show the LTC deduction in ITR and keep he journey tickets/proofs handy. Is this acceptable by income tax dept

@runashrivastava7022 2 жыл бұрын

Suppose in one journey we are travelling 2 place like delhi -> Dehradun-> rajkot Will I be eligible for all the amount travelled during this journey

@suryanarayansubudhi9439 2 жыл бұрын

Hi Labour law team Now in ITR also we can claim LTA, Please update me if I am wrong

@rushhour1131 Жыл бұрын

In case I have traveled through Indigo or Vistara, can I still claim LTA? I traveled in Mar'22 Can I claim this for the current year?

@suryanarayansubudhi9439 2 жыл бұрын

I have travelled in 2020 Feb ... in which financial year LTA should be calmed???

@LIFE_AN_Adventure 2 жыл бұрын

Hey, If we do not claim LTA, will the amount get collapsed? when will we get it back in salary?

@aps8511 Жыл бұрын

if lta is not reflected in form 16 then can we still claim it while filling itr?

@susieko1 5 ай бұрын

Hi You are terrific! Good video. One quick question, is LTA a mandatory item under the monthly salary structure? Can the company give LTA under the 13th guarantee bonus instead?

@AshishMishra-li7vd Жыл бұрын

Very helpful, thanks a lot 👍

@bhanurebel9660 3 жыл бұрын

Will airfare ,postpaid ,ola bills are considered for exemption LTA is not part of my salary still i can claim.

@rajchouhan7201 Жыл бұрын

My Employer has rejected my claim: I wanted to travel from A TO C but there's no direct train connectivity, in that case i had travelled from A TO B then B TO C and RETURNED from C TO B THEN B TO A by train, I should get all the cost i was charged of train ticket right ??

@shivangi24177 2 жыл бұрын

Hi, I have planned a travel for me and family,But I will be travelling from my work location to the destination and my family will be travelling from my hometown to the destination. So the flight tickets are for them,not for me. Can I availd LTA gor this?

@ameersultania3301 Ай бұрын

Hi I am still confused....If i travel and come back then it is two tickets....will it be considered as two seperate journey...also if self and spouse can claim for two seperate journeys that is 4 trips or only two journeys together

@deepakMCA2009knit 3 жыл бұрын

Agar maine apni company me 38400 / year ka LTA block aaj ki date me declare kar diya and Dec 2021 tak maine koi travel nahi kiya to kya wo paise doob jayenge. Company mujhe jo salary de rahi hai usme se 3200/month kaat kar de rahi hai. Not sure ki maine apne IT Declaration section me LTA accept kar ke sahi kiya ya galat. Please suggest karein.

@Abcd-wi1yb 2 жыл бұрын

Sir Mai December 2021 me join kiya company..so will i get carry forward of 1 LTA ..Also if my parents are traveling 1 month prior to my Leave( I will be leaving to my village on that leave)..so uss case me parents n mera saath me 1 LTA hoga?

@ahmedvnit 4 жыл бұрын

Please tell me according to which rule employers are asking for boarding passes ??. As per my understanding there is no provision or any circular from govt about this. But they just like to the self policing. But i agree people should not try to cheat the system.

@akashbaghel123 Жыл бұрын

Ydi LTA milta hi nhi h employer ki trf se to kya hm jitne ka ticket h utne rupees ko itr me travelling bale block me show krke tax km kr skte h ?

@sanjusang423 Жыл бұрын

I miss to submit travel bill to emplyer..can i avail exemption while filling itr

@rampraveshchoudhary6754 4 жыл бұрын

Namaskar sir PF profile me exit date dalne ke bisai par aapne video banaya hai ki company hi dal sakti hai lekin kitne log aisa hai ki 4/5 sal pahle kam karke chhor dia aur company ka koi adres contact nahi hai Sir uska Solution kaya hai

@ajitabhdeshmukh4085 2 жыл бұрын

Can i claim lta benefits for travel of my dependent sister alone??

@dekhokishan2406 4 жыл бұрын

Please advise how make form i and form h for leave register

@vartikajain3128 3 жыл бұрын

Very Informative Thanks

@aniketmeshram1712 2 жыл бұрын

Can I claim previous years travel, in current year??

@Nirvana_soul17 Жыл бұрын

hello sir, can you please guide me. i have just resigned from my job and in past 2 years i have never claimed LTA from my Employer. so now in final settlement whether i am eligible or not to claim my LTA money as a final due amount.

@RohanRamVaswani 3 жыл бұрын

I checked the Section 10(5) of Income Tax Act 1961, it's nowhere mentioned that the upper limit on the number of children should be 2.

@rahulsharma2346 Жыл бұрын

It is there in rule 2b which has to be read along with sec 10(5)

@AbhishekAjane 2 жыл бұрын

Some employers block the entire money and won’t show LTA deductions in the salary

@milindkumar1282 2 жыл бұрын

I paid for my parents airfare. I did not travel. Can I claim LTA?

@neelamdesai3497 3 жыл бұрын

Are ola bills considered for road travel?

@rdtech3756 2 жыл бұрын

Sir if my office Pune and I am from Kolkata then can I claim flight fair for going to office or home?

@dineshkumbharwar1886 2 жыл бұрын

What if I do not submit any claims for LTA and my yearly LTA is Rs.30000?

@swarooppal 10 ай бұрын

Travel by own car is eligible for LTA if cities are well connected by Air and Rail ?

@timepass1746 6 ай бұрын

What if, I'm traveling to my home town from place of work, is that considered under LTA?

@saurabhjaiswal7589 11 ай бұрын

If I travel by air from Mumbai to Jammu, then by road till Delhi and then train from Delhi to Mumbai. Can I claim LTA for Mumbai to Jammu (Air) and Delhi to Mumbai (Train) combined?

@sidmatadh 3 ай бұрын

Suppose if i travel to X by air and cover places in X state, am I eligible for claiming cab cost too?

@nageshkausadikar9225 Жыл бұрын

My wife is having LTA in her CTC letter but her salary is under 5LACS (non taxable). Can she ask for claim to employer ????

@ashokkumarvishwakarma4977 4 жыл бұрын

Sir yadi kisi employee ki finger company me cut jaye to kaya usk pension ban sakta hai Or kese kaya karan hoga

@agk2008 2 жыл бұрын

If I received 1 lakh lta per year then how much amount I can claimed for exemption for 2 years ? Is it 2 lakh

@vallr-humans9121 2 жыл бұрын

Thanks bro for the best info 👍👍👍👍😀

@caharshitagarwal Жыл бұрын

if i am not going for travel with my family can i claim exemption for that ??

@manumathew8529 2 жыл бұрын

Hello sir, what is general allowance in CTC

@GurleenKaur-ql8vf 4 жыл бұрын

ans - c (negotiable instrument act)

@DocKPK 2 жыл бұрын

i get special allowance , what that means ...can u plz make video on that ??

@akshaypatel2743 Жыл бұрын

Can I claim LTA, if I travel with personal vehicle.

@shaileshxjain 2 жыл бұрын

can i claim LTA if ia paid for train ticket by cash?

@danishrizwan8304 3 жыл бұрын

I have travelled on 2019 Can i claim it now?

@virug8026 2 жыл бұрын

background score at 1.15 mins please suggest which is it .

@ishanagrawal631 2 жыл бұрын

If I don't travel will I get my LTA component of salary. I don't fall in any tax bracket.

@AlRashidashraf 2 жыл бұрын

Please make videos on sodexo cards benefit and how to use it.

@dhavalprajapati7033 2 жыл бұрын

Good and informative Video..!!

@ATK633 Жыл бұрын

Dsssb mein travel allowance milta hai to kya iss par exemption le skte hain?

@SachinKumar-qv8fj 2 жыл бұрын

only Air India ticket is considered as proof for claiming LTA?

@SenSei.Soumyojit 2 жыл бұрын

Can I claim LTA for one way train tickets?

@rgtalks2104 6 ай бұрын

Is cruise trip covered under LTC tax exemption claim?

@Ankur_TravelLife 4 жыл бұрын

Ghar jate hai wo claim kar sakte hai kya?

@bhuwneshchouhan5632 2 жыл бұрын

Yadi hum travel per nahi jaate he to LTA Amount ka kya hoga??

@ashishsinha9417 2 жыл бұрын

If I travelled in 2022, can I claim the LTA in 2023?

@vaibhavdubey9918 2 жыл бұрын

my employer doesn't provide LTA so i can i claim it

@dr.ashish1626 Жыл бұрын

Sir kya monthly le sktey hai lta ya annually lena theek hoga Plz bataaiye

@ayushbhadresh 4 жыл бұрын

Sir Apki ek chij Achi lagi Wo hain eligal to ligali banana

@vishalshah2918 Жыл бұрын

Sir I'm govt servent.... I want to know wheather travelling expenses ( bus nd train fare) paid under LTA is exempted in new income tax regime???

@ashishpareek5669 4 жыл бұрын

Answer is C. Negotiable Instruments Act

@prabhanshu3343 4 ай бұрын

I have join the company in June 2023 and my provision period is of 6 month and my provision completed in January 2024. I want to know that could I still get the LTA from company as it is one of the component of my salary.