LTA: Leave Travel Allowance |Calculation & income tax exemption

  Рет қаралды 236,725

Labour Law Advisor

Labour Law Advisor

Күн бұрын

Пікірлер: 258
@LabourLawAdvisor
@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 kzbin.infogaming/emoji/7ff574f2/emoji_u1f4da.png
@sakshisharma8596
@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
@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.
@gurpreetp429
@gurpreetp429 4 күн бұрын
Respect the designation. He is Prime Minister of a country.What r u comparing with. Be little brainy
@ahmedvnit
@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
@Dr.SurajGupta
@Dr.SurajGupta 3 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
@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
@shlokbhansali5044
@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
@Live_Loud
@Live_Loud 2 жыл бұрын
Best channel for all financial information. I can trust this voice blindly 😅
@jyotiranjanadhikary9273
@jyotiranjanadhikary9273 2 жыл бұрын
If I have travelled during tenure of of my previous employer, Can I claim that LTA from my current employer?
@yatindrasri007
@yatindrasri007 4 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
@ameersultania3301
@ameersultania3301 4 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
@RohanRamVaswani
@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
@rahulsharma2346 Жыл бұрын
It is there in rule 2b which has to be read along with sec 10(5)
@vishal.chauhans
@vishal.chauhans 2 жыл бұрын
This is super simple and awesome.
@KWPraveen
@KWPraveen 3 жыл бұрын
Sir mana ki travel mein 25k expenses huve to bill submit karneke bad 25k company degi ya nahi?
@sutarsac
@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.
@shailendrasaxena1619
@shailendrasaxena1619 2 ай бұрын
Same question
@faiyazahmad3192
@faiyazahmad3192 3 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.
@streetwalker7602
@streetwalker7602 3 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?
@gujarisantamanyugmai
@gujarisantamanyugmai Жыл бұрын
Is it mandatory to apply for leaves in the same travel duration. I mean if I do work from home.
@AbhishekAjane
@AbhishekAjane 2 жыл бұрын
Some employers block the entire money and won’t show LTA deductions in the salary
@shubhaagarwal5528
@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?
@vallr-humans9121
@vallr-humans9121 2 жыл бұрын
Thanks bro for the best info 👍👍👍👍😀
@anuraggupta5665
@anuraggupta5665 Жыл бұрын
Great Video. Got one query. How many days (minimum) leaves required for claiming LTA??
@manishjoshi6541
@manishjoshi6541 Жыл бұрын
3 days
@aashishgupta8661
@aashishgupta8661 Жыл бұрын
Can we claim LTA at the time of ITR as well or we only can claim by the employer
@lavkushshukla2267
@lavkushshukla2267 Жыл бұрын
Only by employer
@sayyedm99
@sayyedm99 4 жыл бұрын
1. Suppose I travelled in May 2018 for which I didn't claim LTA deduction and want to claim that LTA in FY2019-2020. Is it permissible since both events fall in the same block? 2. If the answer to above is negative, then can I claim LTA if I travel in the year 2020 and 2021 consecutively?
@vivekagrawal2000
@vivekagrawal2000 4 жыл бұрын
I have the similar question. Can we claim previous year travel in current year. And if started taking LTA from current year not in previous year can last year travel be claimed?
@inspiringminds7643
@inspiringminds7643 2 жыл бұрын
What I have got while working for govt job.. if you are claiming LTA, you need to take permission from your DDE in advance. If you have not taken permission, then the office won't be liable for any type of reimbursement of LTA claimed money by you.
@TheCommonManOnWheels
@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..??
@AlRashidashraf
@AlRashidashraf 2 жыл бұрын
Please make videos on sodexo cards benefit and how to use it.
@sumanlaha3842
@sumanlaha3842 Жыл бұрын
What is LTA return Deduction? Is it refundable & How?
@TheAnkit2112
@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?
@kanhiyamishra6658
@kanhiyamishra6658 5 жыл бұрын
Love you sir thank you for every knowledgable videos
@susieko1
@susieko1 7 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?
@akashbaghel123
@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 ?
@anantaks3783
@anantaks3783 2 жыл бұрын
Hello sir, I have a question that in my company if I have to claim LTA, then it get deducted from net monthly salary, so is it the process of LTA in every company or it is followed in my company only?
@anoopsolanki
@anoopsolanki Жыл бұрын
It happens the same way in most companies. You get the deducted money back at the end of the year with March's salary if you don't claim LTA that year.
@ahmedvnit
@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.
@runashrivastava7022
@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
@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???
@piyushmishra7170
@piyushmishra7170 Жыл бұрын
Can we claim petrol bills if travelling by Car during leave.
@mohindersingh3577
@mohindersingh3577 Жыл бұрын
क्या जवाब मिला
@maheshwarireddy5404
@maheshwarireddy5404 3 жыл бұрын
Hi, Is it applicable only for business purpose?
@allin142
@allin142 3 жыл бұрын
any holiday trip with family
@pri1785
@pri1785 2 жыл бұрын
i have a question, what if the employer doesn;t have an LTA deduction policy at all, does that mean employee's LTA becomes taxable, now in this case why should employee not mention the same during ITR? it is confusing, ITR website clearly mentions LTA exemption can be availed, which clearly means if you have the proofs, go ahead and claim it during ITR, i cant digest the fact that LTA is completely employer dependent. But you are the tax guru so your knowledge must be accurate
@saurabhjaiswal7589
@saurabhjaiswal7589 Жыл 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?
@VaibhavBhanawatvaibhan
@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 ?
@timepass1746
@timepass1746 9 ай бұрын
What if, I'm traveling to my home town from place of work, is that considered under LTA?
@suryanarayansubudhi9439
@suryanarayansubudhi9439 2 жыл бұрын
Hi Labour law team Now in ITR also we can claim LTA, Please update me if I am wrong
@danishrizwan8304
@danishrizwan8304 3 жыл бұрын
I have travelled on 2019 Can i claim it now?
@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
@praveenvishwakarma2102
@praveenvishwakarma2102 Жыл бұрын
What is the current block ?
@siddharthmoghe3296
@siddharthmoghe3296 Жыл бұрын
Doubt: If I go on leave and I travel from Mumbai to Chennai and then return after 7 days from Chennai to Mumbai. So will this be considered as a single journey or double journey ?
@aditheorigin4926
@aditheorigin4926 Жыл бұрын
Single
@Ankur_TravelLife
@Ankur_TravelLife 4 жыл бұрын
Ghar jate hai wo claim kar sakte hai kya?
@dherendrasingh4761
@dherendrasingh4761 6 ай бұрын
RJ SIR , mera ek question hai, agar mai apne parents ko rent du or usi ghar ka home loan me ,mai co-applicant hu to kya me, home loan exemption or HRA dono claim kr skta hu ?
@rgtalks2104
@rgtalks2104 9 ай бұрын
Is cruise trip covered under LTC tax exemption claim?
@ashishshrivastava8864
@ashishshrivastava8864 Жыл бұрын
A really nice video covered most of my doubts. However i still have doubts about : 1. To and fro is considered as one travel or two travels? 2. Going to your hometown or relative's/friend's place, is this can be claimed under LTA Or only for tourism destinations?
@anoopsolanki
@anoopsolanki Жыл бұрын
To and fro is 1 travel. Also, to answer your 2nd question, yes, you can claim it if you have the proofs.
@ATK633
@ATK633 2 жыл бұрын
Dsssb mein travel allowance milta hai to kya iss par exemption le skte hain?
@theordinaryguy2.021
@theordinaryguy2.021 2 жыл бұрын
My next travel destination would be Jaipur,Rajastan.
@prabhanshu3343
@prabhanshu3343 7 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.
@nishapatel-sy3gc
@nishapatel-sy3gc Жыл бұрын
How to claim it in itr2, not able to show due to multiple employer changes?
@darefulash
@darefulash 3 жыл бұрын
If LTA is a part of my salary then will it be deducted from my in hand salary.?
@shilpamanocha3195
@shilpamanocha3195 2 жыл бұрын
No but tax will be deducted on it if it not claimed for LTA. Upon claiming you can only save tax
@Akshay-Raut
@Akshay-Raut 2 жыл бұрын
@@shilpamanocha3195 hey I have one question. I submitted for LTA in my office so does it mean my company will reimburse that amount or will it only help me my tax deduction? Note: LTA is part of my pay slip every month. I don't know how that works.
@shilpamanocha3195
@shilpamanocha3195 2 жыл бұрын
@@Akshay-Raut so it has already been paid to you as part of salary. It's your money whether you use it for travel or not, it's upto you.Using LTA allowance for the travel purpose helps you gets tax benefit now. P.S-Tax benefit hi milega. Extra Payment nai.
@virug8026
@virug8026 2 жыл бұрын
background score at 1.15 mins please suggest which is it .
@feniljani5516
@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?
@alokanand8748
@alokanand8748 4 жыл бұрын
My employer has added LTA in wages of every month, now how to claim LTA? I mean i cannot show that amount in ITR?
@the6thgear958
@the6thgear958 3 жыл бұрын
Nopes, LTA cannot be claimed in ITR
@rushhour1131
@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?
@VinaySingh-yu5wu
@VinaySingh-yu5wu Жыл бұрын
I am unemployed but still watching this video
@GurleenKaur-ql8vf
@GurleenKaur-ql8vf 5 жыл бұрын
ans - c (negotiable instrument act)
@Vikaskumar-ur5di
@Vikaskumar-ur5di 8 ай бұрын
if company not provided the LTA we can claim the LTA or not
@aniketmeshram1712
@aniketmeshram1712 2 жыл бұрын
Can I claim previous years travel, in current year??
@Drider_900
@Drider_900 3 жыл бұрын
Very nicely explained.. Good work
@wildlifersam9012
@wildlifersam9012 5 жыл бұрын
Case of cheque bounce comes under:- C. NEGOTIABLE INSTRUMENTS ACT.
@DanishShaikh-ei3sq
@DanishShaikh-ei3sq 2 жыл бұрын
If a person is travelling by his personal car and not by public transport, how can he claim LTA ?
@mohankrishna4227
@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 ?
@DocKPK
@DocKPK 2 жыл бұрын
i get special allowance , what that means ...can u plz make video on that ??
@sidmatadh
@sidmatadh 5 ай бұрын
Suppose if i travel to X by air and cover places in X state, am I eligible for claiming cab cost too?
@rajnimehta8
@rajnimehta8 2 жыл бұрын
If children are married and at what age are considered?
@pavanhegde8969
@pavanhegde8969 Жыл бұрын
@rishab ji... What if we go on our personal vehicle.. what is the exemption we get
@nageshkausadikar9225
@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 ????
@chiragpatel5665
@chiragpatel5665 2 жыл бұрын
Only air india flight is considered in lta, or other companies flight also considered?
@akshaypatel2743
@akshaypatel2743 Жыл бұрын
Can I claim LTA, if I travel with personal vehicle.
@vartikajain3128
@vartikajain3128 3 жыл бұрын
Very Informative Thanks
@ashishpareek5669
@ashishpareek5669 5 жыл бұрын
Answer is C. Negotiable Instruments Act
@LIFE_AN_Adventure
@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?
@sanjusang423
@sanjusang423 Жыл бұрын
I miss to submit travel bill to emplyer..can i avail exemption while filling itr
@rajchouhan7201
@rajchouhan7201 2 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 ??
@namratasbhat8508
@namratasbhat8508 3 жыл бұрын
Salary se cut Hoga kya
@DetectiveCrow
@DetectiveCrow 2 жыл бұрын
Tricks mast hai
@rrCricketMania
@rrCricketMania Жыл бұрын
Hi, if we travel by personal vehicle say Car, can expenses on fuel be exempted ?
@dr.ashish1626
@dr.ashish1626 2 жыл бұрын
Sir kya monthly le sktey hai lta ya annually lena theek hoga Plz bataaiye
@dineshkumbharwar1886
@dineshkumbharwar1886 2 жыл бұрын
What if I do not submit any claims for LTA and my yearly LTA is Rs.30000?
@sudhanshukumar3822
@sudhanshukumar3822 2 жыл бұрын
I am not able to understand every month about 3750 is adding in my salary slip as a LTA If I don't claim this money, it will be credited my account in the last or it will be collapsed and I will not get anything .
@user1902-b7e
@user1902-b7e Жыл бұрын
is LTA applicable for cousine brothers and sisters?
@adarshkhamitkar4518
@adarshkhamitkar4518 2 жыл бұрын
Is it possible if mandeep can explain this???
@swarooppal
@swarooppal Жыл бұрын
Travel by own car is eligible for LTA if cities are well connected by Air and Rail ?
@SachinKumar-qv8fj
@SachinKumar-qv8fj 2 жыл бұрын
only Air India ticket is considered as proof for claiming LTA?
@arjunmv9973
@arjunmv9973 3 жыл бұрын
Hi LLA Team, Please make a video on LTC Cash Voucher scheme proposed by government. Thanks
@aps8511
@aps8511 Жыл бұрын
if lta is not reflected in form 16 then can we still claim it while filling itr?
@rishabhjain2243
@rishabhjain2243 2 жыл бұрын
What if my sister is married ? Will she be also considered under/as dependent sibling ?? Plz help to confirm on this..
@mayukhbhattacharya2031
@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?
@AshishMishra-li7vd
@AshishMishra-li7vd Жыл бұрын
Very helpful, thanks a lot 👍
@RamapatiMaurya
@RamapatiMaurya 2 жыл бұрын
Train/bus food is exempted under LTA?
@Mikeforu
@Mikeforu 2 жыл бұрын
Hi sir, is it mandatory that bills or travel tickets should be GST? Can we submit non gst travelling bill in LTA claim?
@sagarchinchapur9184
@sagarchinchapur9184 2 жыл бұрын
not mandatory
@myiphone13mini-xr8bv
@myiphone13mini-xr8bv Жыл бұрын
What if I book a Zoomcar for travel?
@agk2008
@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
@Nirvana_soul17
@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.
@mailmemack
@mailmemack Жыл бұрын
car expensess can be covered in LTA
@SenSei.Soumyojit
@SenSei.Soumyojit 2 жыл бұрын
Can I claim LTA for one way train tickets?
@nagarajesike8833
@nagarajesike8833 2 жыл бұрын
Please make a video on joint home loan
HRA Calculation and Income Tax Exemption Rules | House Rent Allowance
18:57
Labour Law Advisor
Рет қаралды 230 М.
Make your Income Tax ZERO! | Ultimate Tax Saving Masterclass | LLA
46:54
Labour Law Advisor
Рет қаралды 1 МЛН
Как подписать? 😂 #shorts
00:10
Денис Кукояка
Рет қаралды 8 МЛН
Man Mocks Wife's Exercise Routine, Faces Embarrassment at Work #shorts
00:32
Fabiosa Best Lifehacks
Рет қаралды 6 МЛН
Every parent is like this ❤️💚💚💜💙
00:10
Like Asiya
Рет қаралды 20 МЛН
Middle Class FOOLED Once Again? | Budget 2024 | Dhruv Rathee
20:09
Dhruv Rathee
Рет қаралды 14 МЛН
What is Leave Travel Allowance(LTA)? | LTA Explained
13:17
Yadnya Investment Academy
Рет қаралды 21 М.
67. LTC: Leave Travel Concession Exemption under Income Tax
55:29
Study At Home
Рет қаралды 10 М.
Best Tax Saving Guide | Complete tax planning for salaried persons | LLA
18:58
Labour Law Advisor
Рет қаралды 3,4 МЛН