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Claim Leave Travel Allowance (LTA) to save tax

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Pankaj Mathpal

Pankaj Mathpal

Күн бұрын

Leave Travel Allowance or LTA is a type of allowance given to the employee by employers for travel. It covers within-country travel costs when he/she is on leave from work.
Section 10(5) of the Income Tax Act, 1961 with Rule 2B ensures the exemption of tax and also details the conditions subject to tax exemption. There are some rules related to the exemption of tax that is stated clearly under Section 10(5) of the Income Tax Act, 1961.
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Пікірлер: 102
@KapilBodhare15
@KapilBodhare15 29 күн бұрын
smile acchi hai sir...
@arunsingh6002
@arunsingh6002 Жыл бұрын
Thanks sir !Mast smjh aa gya ki LTA Chalava hai bas tax Dena hi pdega!!
@voyagetales157
@voyagetales157 Жыл бұрын
1. What is difference in LTA taxable and LTA taxfree? When to claim which? 2. In a block of 4 year 2 trips can be claimed. Does it mean if I travel from Bangalore to Delhi in 1 ticket and return Delhi to Bangalore in another ticket then will it be claimed as 1 trip or 2 trip? 3. If I travel with my friend in single booking id, how can I claim amount for only my ticket fare?
@Nikhil-jj7xf
@Nikhil-jj7xf Жыл бұрын
Same query i have
@gouravearora9814
@gouravearora9814 Жыл бұрын
Company is giving lta of 25000 every year in salary. So, can I claim 50000 rs two times in a span of 2022-2025.
@sahilchamp
@sahilchamp 9 ай бұрын
Thank you Sir If I travel from Delhi to Kolkata by Air (Economy) and back Kolkata to Delhi by AC 1 class. Will the entire expenses of the round trip be claimed under LTA or any single-way trip?
@user-cc4ee4mp6s
@user-cc4ee4mp6s 2 ай бұрын
Sir family k vi hota h ya nhi ?
@neerubansal8224
@neerubansal8224 Жыл бұрын
You are awesome sir. You explained it very well. Thanks for such useful information 😊
@MohitSharma-sn2sv
@MohitSharma-sn2sv Жыл бұрын
Can we claimed .. one unclaimed LTA of 2018-2021 and one LTA of 2022 in single year 2022??
@SANCHITAGGARWAL100
@SANCHITAGGARWAL100 6 ай бұрын
Thank you for an informative video!!! But I have a question. We are in the block of 2022-25 currently. And I have not claimed LTA so far in this block. If I have travelled in the month of feb 2023, can I submit the tickets in the month of Apr2023 which falls in the next financial year?
@kamals6624
@kamals6624 26 күн бұрын
Yes during your ITR filling sir😢😢
@rkverma1317
@rkverma1317 Жыл бұрын
Sir, thanks for very informative video. Kindly inform, if we perform journey to destination by own vehicle, how can we calculate the LTA expenditure.
@pankajmathpal
@pankajmathpal Жыл бұрын
You can't claim the benefit if you travel by your own vehicle.
@rkverma1317
@rkverma1317 Жыл бұрын
@@pankajmathpal Thank You Sir
@rahulsinha9031
@rahulsinha9031 3 ай бұрын
Sir. Do I get LTA component amount included in the in-hand salary?
@sameermishra6244
@sameermishra6244 Жыл бұрын
Thanks for explain . My concern is my employer show LTA allowance on salary slip. But not mention in form 16. I am not working on that place. Can I claim LTA on Ay 22-23.?
@prabhanshu3343
@prabhanshu3343 5 ай бұрын
I have join the company in June 2023 and my probation period is of 6 month and my probation 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.
@harikrishnabhimavarapu4877
@harikrishnabhimavarapu4877 5 ай бұрын
Sir , I travelled by maken trip package, now how to claim tax benefit for only travel expenses . MMT bill included both travel and hotel expenses
@songs6612
@songs6612 Ай бұрын
sir form 16 m Lta ki exception nhi mili Hui to Kya m return filing k time claim kr skta hu
@harvindersinghsachdeva5874
@harvindersinghsachdeva5874 2 ай бұрын
Can we claim lta while filling ITR return if I forgot to claim via employer?
@pankajmathpal
@pankajmathpal 2 ай бұрын
No
@siddharthsoni2555
@siddharthsoni2555 Жыл бұрын
thanks sir
@yasinnadaf2974
@yasinnadaf2974 Жыл бұрын
Useful information
@FoodIsLifeAndLifeIsFood
@FoodIsLifeAndLifeIsFood Жыл бұрын
Can I claim LTA for the travel which I have done in december 2021
@aksket2000
@aksket2000 Жыл бұрын
Sir, canara bank 666 days FD or other special FD schemes are being introduced for more than one year period. Are they give compound interest or simple?
@siddharthmoghe3296
@siddharthmoghe3296 Жыл бұрын
Doubt: If I go on leave and I travel from Mumbai to Chennai and then return from Chennai to Mumbai. So will this be considered as a single journey or double journey ?.
@pankajmathpal
@pankajmathpal Жыл бұрын
Single claim
@neerubansal8224
@neerubansal8224 Жыл бұрын
Please also explain how to claim LTA. Thanks
@MsAashish027
@MsAashish027 8 ай бұрын
What if my company does not give LTA in salary compensation details
@honeysingh20
@honeysingh20 Жыл бұрын
Hello sir Maine financial year 2022-2023 maim LTC liya tha lumpsum amount main..which was taxable and was shown as other income in salary slip.. i paid income tax on this LTC.. Can I claim any sort of itr refund for assessment year 23-24??
@technicaldewangan9752
@technicaldewangan9752 6 ай бұрын
Sir kya LTC home town me income tax chhut milta hai
@Hemant.Chem_Life
@Hemant.Chem_Life 7 ай бұрын
Is this applicable in the New Tax Regime?
@debaditya1003
@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
@pankajmathpal
@pankajmathpal Жыл бұрын
No.
@samarghosh5649
@samarghosh5649 6 ай бұрын
LES & LTA ...SAME ?
@jackthegreat687
@jackthegreat687 Жыл бұрын
Sir only government employees ya private employees Also family pensioner used lta?
@aaa0bbb1
@aaa0bbb1 7 ай бұрын
can I apply LTA for both myself and my spouse together?
@AjitAsmita
@AjitAsmita Жыл бұрын
If I travel from March last week to the first week of April which year I can claim this LTA
@sahendrasingh1313
@sahendrasingh1313 Жыл бұрын
Personal car se bhi jaa sakte hai Ltc
@masterkartikvermamanojverm6033
@masterkartikvermamanojverm6033 Жыл бұрын
Agar hamne LTA claim 21-22 FY mai Kiya ho ...kYa ham LTA 22-23 FY mai bhi kar sakte hai kya ?
@bikashmahapatra1555
@bikashmahapatra1555 Жыл бұрын
Hii sir I have switched from hdfc to Icici on 23 jan I had travelled on feb 23 . When can i claim, also if proof not submitted to HR, can my CA claim it
@shraddharathore7655
@shraddharathore7655 Жыл бұрын
Hello sir, can we claim LTA during ITR filing if failed to claim to the employer? Please suggest.
@pankajmathpal
@pankajmathpal Жыл бұрын
No. You can't do that.
@AjayPandey-bx2qk
@AjayPandey-bx2qk 7 ай бұрын
If LTA is not part of my CTC .. Can i still cliam it?
@uditrocks
@uditrocks 11 ай бұрын
Hi Sir - My younger brother just finished his mbbs and 26 years old but not doing any job. Can I claim LTA for him?
@shanp05
@shanp05 Жыл бұрын
Sir, I booked the travel ticket on 29th March 2023 for travel in July 2023, can I claim LTA in FY 2023-24. Is the ticket booking date important for claiming LTA?
@pankajmathpal
@pankajmathpal Жыл бұрын
Yes, you can claim in 2023-2024 if your employer sanctions your LTA.
@abdesh9147
@abdesh9147 Жыл бұрын
Can full amount of LTA be carried forward in next block of 4 years ?
@ErABHISHEK01
@ErABHISHEK01 Жыл бұрын
My company provides only a lump sum total package, but no LTA is mentioned in my package. I have visited pilgrimage sights during my vacation with my family, can I claim tax benefits under this section?
@pankajmathpal
@pankajmathpal Жыл бұрын
No. If the LTA is a part of your total CTC and your claim from your your employer is support by travel tickets then only it's exempted from tax.
@AshutoshMahakhudashu
@AshutoshMahakhudashu Жыл бұрын
" LTA taxable = 2000 " this I get every month in my salary slip. Am I eligible for LTA exemption ?
@krishanmehla6977
@krishanmehla6977 4 ай бұрын
Dear Pankaj Ji, Thank you very much for your nice post on LTA. My querry is only. Suppose inbCalender Year 2022 to 2025 a Employee is taking money from office every year means 4 tume in in current LTA block. And want to claim total of two time in 2025....Will it be allowed. For eg my per year LTA amount is say Rs. 50000 and I have taken every year 50k x4 years total 200,000. And want to claim for two year in 2025 100000....will it be ok One more querry Can we take LTA every year and claim to Income tax only two times balance two time Paid tax. If Block year completed and 2 Lacs taken from employer and Pais tax also and in next block year begins 2026 so In 2026 can I claim 100000 of last block . Kindly advise. Thank You. Krishan Mehla
@devintel113
@devintel113 Ай бұрын
Mere salary me LTA nhi but me travel kiya to kya main LTA claim kàr sakta hu
@pankajmathpal
@pankajmathpal Ай бұрын
No
@chetanaprajapati3810
@chetanaprajapati3810 Жыл бұрын
What if i have travelled thrice this year , can i claim all three this year ?? If i do so , will i be able to avail lta claim next year for next year journey ? Or should i claim the lta for the most expensive journey alone this year ?;
@rajeshkumarjha1536
@rajeshkumarjha1536 Жыл бұрын
All three you can claim
@Itz_shreya2014
@Itz_shreya2014 4 ай бұрын
Now ltc is taxable in new tax regime
@the_mants
@the_mants Жыл бұрын
If we hire a cab , is the charges for same covered under Lta?
@AshwaniKumar-fo5nx
@AshwaniKumar-fo5nx 3 ай бұрын
Yes
@sanjusang423
@sanjusang423 Жыл бұрын
Sir i missed to submit travel bills to employer..can i claim exemption while filling itr now...
@pankajmathpal
@pankajmathpal Жыл бұрын
No
@Rajeshsingh-ws5th
@Rajeshsingh-ws5th Жыл бұрын
Sir what if Employer has not exempted the LTA Amount, then can we claim it while filling the ITR.
@pankajmathpal
@pankajmathpal Жыл бұрын
No.
@meenasatghar2104
@meenasatghar2104 Жыл бұрын
I m central government employees can I avail LTA expense get rebate in income tax
@vishalshah2918
@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???
@dhirajsingh9130
@dhirajsingh9130 24 күн бұрын
No
@bhaskartaneja6293
@bhaskartaneja6293 9 ай бұрын
Sir agar leave trip mein multiple places travel kiya ho toh kaise claim karenge ? Jaise aap native -> Delhi -> Goa -> Pune -> Jaipur -> Native .. The leave is same , its just you visited and plan many places ..
@rajishadhikary
@rajishadhikary Жыл бұрын
1. Sir my company gave LTA - 26000 as per salary slip but I spend 50000 annually. Can I claim 50000 per year again LTA? 2. Ticket fares in train for going home and back, can I claim this?
@rajeshkumarjha1536
@rajeshkumarjha1536 Жыл бұрын
Yes
@rajpalnegi6887
@rajpalnegi6887 Жыл бұрын
KYA Retaird Person Ko Bhi Tax Men Fayda Melega Please Batyen
@pankajmathpal
@pankajmathpal Жыл бұрын
LTA ka benefit nahin milega.
@ankeshsuryan
@ankeshsuryan Жыл бұрын
Ive air tickets for feb 2022. Can i claim in FILING ITR for A.Y 2023-24
@pankajmathpal
@pankajmathpal Жыл бұрын
No. You had to submit your tickets to your employer to claim tax free LTA.
@annakale6727
@annakale6727 Жыл бұрын
F.A.2022-23 मे पिछले 5साल का L.T.A rs 42000 दिया है।इसिलिए tds काटा है ,तो पिछले 4 साल का L.T.A कहा दिखाये आऔर इसपर छूट मीलेगी क्या
@deepakbahuguna400
@deepakbahuguna400 Жыл бұрын
Claim kha krna h sir??
@AK-tv7vy
@AK-tv7vy Жыл бұрын
Can I clain LTA for my parents who is retired person and getting pension from govt.
@meprajwal01
@meprajwal01 Жыл бұрын
Q1: If my LTA is 1 lakh and I travel only for 2 times in 2 years, spending 1 lakh per year, the remaining 2 year LTA i.e. 2 lakh will be taxable ? Q2: In above scenario, if I travel 4 times in 4 years, spending 1 lakh per year, I hope I can claim only 2 lakh? Q3: In same scenario, if I travel 2 year, spending 2 lakh per year. Can I claim 2 lakh in a single year LTA (my LTA is 1 lakh/year) ?
@realthinker70
@realthinker70 Жыл бұрын
A1: Yes all unused LTA is taxable. A2: Yes. A3: Minimum of LTA or actual spend is considered.
@bhatianeeraj9686
@bhatianeeraj9686 Жыл бұрын
सरजी 2022-23 में मुझे 26000 का LTC में एयर फेयर का रिम्बर्समेंट हुआ लेकिन Income tax की। New Regim का ऑप्शन लेने के कारण 30% की दर से टैक्स काट लिया गया क्या यह सही है
@pankajmathpal
@pankajmathpal Жыл бұрын
New Tax Regime में LTA पर deduction नहीं मिलता इसलिए मिली हुई राशी taxable हो जाती है।
@samay09
@samay09 Жыл бұрын
सर, मुझे एकमुश्त 1 लाख mf में इन्वेस्ट करना जबकि मार्केट तेज बढ़ा हुआ है जिससे कम यूनिट मिलेंगी तो क्या बचत खाते में रुपया पड़ा रहने देकर मार्केट गिरने का इंतजार करूँ या किस mf स्कीम में लगा दूँ, कृपया सलाह दें ❓️ - आकाश त्रिपाठी, कानपुर
@RohitSharma-dh8gr
@RohitSharma-dh8gr Жыл бұрын
Thanks for this information! One Question: I am getting LTA in my salary and i traveled by Air in Nov 2022 from New Delhi -To- Trivandrum and I submitted the bills for this one-way travel to my employer in January 2023 and the flight amount got approved and reflected in my form-16 as well under section 10(5) but I also traveled return journey from Madurai To Agra Cantt in 3rd AC and i forgot to claim it to my employer. Can i claim it in my ITR filling by increasing the amount value in section 10(5)? Does return journey in 3rd AC can be claimed in LTA? FYI, the Flight amount was Rs 14000 whereas the return journey train amount was = Rs 4500/. So can i claim it as a total Rs 18500 in section 10(5)? please clarify
@ashishaggarwal5190
@ashishaggarwal5190 Жыл бұрын
Can we claim 2nd class sleeper train fair for LTA rebate
@pankajmathpal
@pankajmathpal Жыл бұрын
Yes
@glichedboy2034
@glichedboy2034 Жыл бұрын
Sir is LTA amount to be included in annual income of employee by DDO in old or new tax regime?? Also tell LTA for business class air travel is taxable or not.
@csuryavanshi5976
@csuryavanshi5976 25 күн бұрын
Donate all your money to PM fund etc & save all tax!!😂
@pushkarmulay7721
@pushkarmulay7721 Жыл бұрын
If LTA not a part of my CTC - can I claim it
@pankajmathpal
@pankajmathpal Жыл бұрын
No
@rajeshkumarjha1536
@rajeshkumarjha1536 Жыл бұрын
​@@pankajmathpalif you have bills you can claim in ITr
@pankajmathpal
@pankajmathpal Жыл бұрын
@@rajeshkumarjha1536 read the question carefully.
@sharmajyoti1120
@sharmajyoti1120 Жыл бұрын
My employer does not give any LTA😔😔
@pankajmathpal
@pankajmathpal Жыл бұрын
😢
@khanmudassir3156
@khanmudassir3156 Жыл бұрын
Sir, personnel car se ja sakte kya. Uska calculation kaise kare. This is most common scenario, no one able to explain it. basic rule to har koi bta deta.
@pankajmathpal
@pankajmathpal Жыл бұрын
LTA will be exempted only if the journey is made by Air, train or public transport by the shortest route.
@deepakkumar-wq8cl
@deepakkumar-wq8cl Жыл бұрын
Returns back to home bhi clam honga kay same yr mai
@pankajmathpal
@pankajmathpal Жыл бұрын
Yes
@akhiljoshi387
@akhiljoshi387 Жыл бұрын
Bhai karna kese h
@sunitasindhu5300
@sunitasindhu5300 Жыл бұрын
LTA ki kon se saction me chuoot milegi
@pankajmathpal
@pankajmathpal Жыл бұрын
u/s 10(5)
@venkatkumarg2088
@venkatkumarg2088 Жыл бұрын
Thank you for an informative video!!! But I have a question. We are in the block of 2022-25 currently. And I have not claimed LTA so far in this block. If I have travelled in the month of feb 2023, can I submit the tickets in the month of Apr2023 which falls in the next financial year?
@venkatkumarg2088
@venkatkumarg2088 Жыл бұрын
Asking this question because travel happened in a diff financial year but claim will happen in the next FY though both travel and claim is happening in the same calendar year
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