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Anil

Anil Rego  |388 Answers  |Ask -

Financial Planner - Answered on Nov 03, 2021

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Damodar Question by Damodar on Nov 03, 2021Hindi
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Money

I have've question related to Leave Travel Allowance exemption. Can I claim LTA exemption for two separate journeys, made in two consecutive calendar years, but in same assessment year?

First journey: December 2020

Second journey: January 2021

I haven't claimed any exemption in the current block of four years.

Both journeys are not in continuity. LTA has been paid by company separately. Both fall in same assessment year. Further I wish to utilise the cash voucher scheme.

Ans: LTA exemption is available for only two journeys performed in a block of four calendar years. So you can claim for those two journeys which fall in the block of four calendar years, since you have not claimed in the same block.

The cash voucher scheme is an alternative to LTA/LTC. As per the scheme, you will have to purchase goods and services attracting GST of 12 per cent, or more, by digital means between October 12, 2020, and March 31, 2021. The individual would then be allowed to claim one third the amount of the bills as tax exempt LTA/LTC, without submission of travel proof.

You can claim a maximum of one-third of the amount spent or up to Rs 36,000 per family member, whichever is lower by submitting bills.

You need to choose between cash vouchers and LTC. You can't claim both together

 

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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I have a crush on my colleague recently. We started as a friend but one day we get drunk on one of colleague house. We talk about life and love. I asked about his ex. He told his past relationship story how they break up. I also shared some of my past situationship. We live in a same colony. So we came back home together getting drunk I told him you can lean ur head on my shoulder. And he suddenly lean his head on my shoulder and he was sleeping and I wake him up when we reached our destination. He takes me to my house and I suddenly hold his wrist. I don't why did I hold him and next morning he yes hi (call my name)how are you I didn't respond properly I'm just like yeah good after that he seems to avoid me a lot he didn't talk to me much I caught him looking at me sometimes but it might be coincidence. I think he doesn't like me
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