Know how to claim your LTA tax exemption this year

The LTA reimbursement is not available every year.

Leave Travel Allowance (LTA) is not included in taxable income of an employee upto certain limits and conditions.

The LTA tax break can only be claimed from the travel within India. No other expenses other than the actual expenses incurred on air, rail and bus fares are the areas where one can claim the non-taxable reimbursement.

The reimbursement is not available every year. It is only available in a block of two years and current period is calendar year 2014-17.

Some of the ways how you can claim your LTA amount for which tax break are:

Air travel

If you are travelling on the economy class fare of the national carrier by the shortest route then you are eligible to claim the LTA.

Multi-destination journey

If a person is travelling to different places in a single trip then the LTA tax break is limited what is admissible for the journey from the place of origin to the farthest point reached by the shortest route.

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