Can I claim LTA in 2021?

Conditions for availing benefits under LTA cash voucher scheme. This exemption shall be available for FY 2020-21. Such a purchase should have been made between 12th October 2020- 31st March 2021. The exemption should not exceed Rs 36,000 per person or 1/3rd of the ‘specified expenditure’, whichever is lower.

Can I claim LTA without taking leave?

Since the LTA is a component of your salary structure itself, it gets credited to your account as part of your salary on a regular basis. However, if you don’t travel at all or don’t have valid proof of travel, then you can not claim the LTA received for tax exemption purpose.

How do I claim my LTA for road travel?

Procedure to claim LTA is generally employer specific. Every employer announces the due date within which LTA can be claimed by the employees and may require employees to submit proof of travel such as tickets, boarding pass, invoice provided by travel agent etc along with the mandatory declaration.

What is miscellaneous allowance in TCS?

This will come under the heading “Miscellaneous” You can find some unique deductions like “Labour Welfare” and “TCS Welfare Trust”. The TCS Welfare Trust is used in case of medical emergencies which require high cost of treatment. This is amount is shared by all members of Tata Group of Companies.

Does TCS provide house allowance?

Accommodation is not provided to candidates whose ILP location is same as their base branch. In case, TCS provides accommodation during the training period, the rent towards the same will be deducted from your House Rent Allowance (HRA). Candidate can avail accommodation facility one day prior to the ILP joining date.

Can I claim LTA exemption without travelling?

Claim LTA Exemption without travelling! Claim LTA Exemption without travelling! Central Government has come up with a new scheme providing for some relief to employees in the country.

Can I claim leave travel allowance (LTA) during covid-19?

As we all know, due to COVID-19 pandemic, people are not in a position to travel, and the employees earning Leave Travel Allowance (LTA) are unable to claim the respective exemption.

What is leave travel allowance (LTA)?

The term LTA stands for Leave Travel Allowance. It is the exemption received by the employee from his employer for travelling on leave. Hence, salaried individuals can only claim this exemption. But due to pandemic the employees are unable to travel which results in failure to claim Leave Travel Allowance (LTA).

Is international travel covered under LTA 3?

No international travel is covered under LTA 3. The exemption for travel is available for the employee alone or with his family, where ‘family’ includes the employee’s spouse, children and wholly or mainly dependent parents, brothers, and sisters of the employee.