You must know these conditions about LTA Claim in Income Tax Return
You must know these conditions about LTA Claim in Income Tax Return in 2019
LTA = Leave Travel Allowance
What is Leave Travel Allowance(LTA)?
It is an exemption for allowance/assistance received by the employee from his employer for travelling on leave.
Conditions for claiming LTA in 2019
- No international travel is covered under LTA.
- Exemption is available for travel of an employee alone or with his family where ‘family’ includes employee’s spouse, children and wholly or mainly dependent parents, brothers and sisters of employee.
- LTA exemption is available only for two journeys performed in a block of four calendar years.
- Though you can claim two journeys in a block of four years, you can claim the LTA benefit just once in a year. You cannot claim both the journeys in one year.
- You can get LTA only if you have applied for leave from your company and have actually travelled.
Exemptionis available only on the actual travel costs i.e., air, rail or bus fare incurred by the employee. No expenses such as local conveyance, sightseeing, hotel accommodation, food etc are eligible for exemption.
- The employee can claim LTA for only one trip in a year. One cannot claim multiple trips in a year to claim LTA.
- 2 kids are eligible for travel to get LTA benefit. In case there is triplet kid, due to twins, such twins would be considered as one kid for this purpose.
- An employee can carry forward one trip to next block year. Means in a 4 block years, he can claim one trip and one trip he can carry forward to the next block year. During the next block year, instead of 2 trips, they can undertake 3 trips and claim LTA benefit. However, this has to be communicated to an employer so that they can make provisions in their books.
Hope this helps!