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LTA Bill Claim

[LTA] Leave Travel Allowance Rules & Exemption Guide
10%3%*

Leave Travel Allowance (LTA) is a type of allowance which is given to an employee from his employer to cover his travel expenses when he is on leave from work. Sometimes it is also known as Leave Travel Concession (LTC). LTA is exempt from tax u/s 10(5) of Income Tax Act, 1961.

Any travel concession or assistance received by employee from his employer for himself and his family to cover expenses incurred in travelling while on leave.

Any travel concession or assistance received by employee from his former employer for himself or his family to cover expenses incurred in travelling post retirement or termination of service.

if you have a claim of 50000 and you can claim only on travel and not on stay, food, sight seing expenses

To check your eligibility and calculate your LTC accurately, you must know the following Leave Travel Concession rules:

  • Consider you are on tax slab 30% and u submit bill for 50K, we charge you 1500 (3%) if without GST then you get Tax savings of 15,600
  • Consider you are on tax slab 30% and u submit bill for 50K, we charge you 4500 (9%) if with GST then you get Tax savings of 15,600
  • People incur several kinds of expenses during their holiday trip but not all of them are covered by LTA.

    Expenses made on food, shopping, etc. are not tax deductible.

    Only the expenses made by employee on travelling are born by the employer for which he provides Leave Travel Allowance to the employee.

    The individual has to keep proof of travel as it can be required for tax auditing purposes.

    Exemption is allowed for only two travels within a block of four years.

    Depending on the mode of transportation chosen and connectivity of the place, amount of exemption is decided.

    Generic Questions:

    Check your Offer Letter containing the Salary Split up for more details.

    Spouse of individual

    Children of individual

    Parents of individual (mainly or wholly dependent on the individual)

    Brothers and sisters of individual (mainly or wholly dependent on the individual)

    Leave Travel Concession or LTA block years are blocks of 4 years created by Income Tax Department where exemptions can be claimed twice during each block period starts Jan 1 and ends on Dec 31.

    Current LTC Block YearThe current or on-going block year is the 9th block year. The 4 years in this block are the years 2018, 2019, 2020 and 2021.

    Economy Air Fare Ticket, 1st Class AC Train Ticket, Taxi Travel, Bus Travel, Ship Travel (Andaman Only) are only accepted.

    We have 2 different slabs such as 3% & 9% which is meant for without GST and with GST.

    We Provide Taxi Travel Bill, Trip Sheet, Cash Payment Voucher, payment receipt, Hotel Bills* to claim