LTA advantages: Can you declare  for 2 years consecutively?

Question: Can I declare LTA (Leave Travel Assistance) two consecutive years e.g. 2020 and 2021 . Is there any particular rule for journey to hometown LTA in 2 years.

Answer: As far as exemption in respect of LTA is worried, there isn’t any particular provisions as regards the locations to which a journey might be undertaken so long as the journey is undertaken inside India so there isn’t any want so that you can go to you house city to have the ability to declare LTA advantages. Likewise, there isn’t any restrictions that the journeys should be taken in different years. 

So one can declare the advantage of LTA in respect of any two journeys throughout the block of 4 years. So, in my view, even each the journeys in respect of the identical block of 4 years might be undertaken in the identical 12 months offered the employer is prepared to pay the quantity of LTA throughout the identical 12 months. The present block of 4 years covers the calendar years 2018, 2019, 2020 and 2021. Since each these calendar years 2020 and 2021 fall in the identical block, you may declare the exemption for each these consecutive calendar years in case you haven’t claimed the LTA exemption for 2018 and 2019. 

Please notice the LTA profit can solely be claimed for journey undertaken to anyplace in India, so in respect of international travels, you may declare the journey bills just for journey upto the airport from the place you embark in your international journey for backward and forward journey.

Balwant Jain is a tax and funding professional and might be reached on jainbalwant@gmail and @jainbalwant on twitter.com.

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