Where to get lta bills

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates. The tax laws allow exemption for any money received by an employee for travelling to any place within India, either himself alone or along with his eligible family members. Let us understand how this scheme works. Related News. Dow 30 closes above for first time in years — Know how to invest in index stocks.

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Order passed without jurisdiction is invalid. Hello, I have a query. I am describing it as under — My joining date with my present employer is 18 Feb. Regards, Debabrata. October 21, at pm. Shashidhar S M says:. September 23, at pm. Hi says:. July 10, at am. Chintamani Sudhakar Wagh says:. March 27, at pm. Rajeswari says:. As single premium is attracting only 4. I am comfused. Note that only those employees who receive LTA as part of their salary package can avail of this scheme.

Also, note that if you have opted for the new tax regime, you will not be eligible for this scheme. This amount must be proportionately reduced if less money is spent. If Rs 3,00, is spent, the entire Rs 1,00, shall be tax free. This means you will be able to save Rs 30, in taxes by spending Rs 3lakhs.

Therefore, this is not a very attractive scheme. If you have been intending to purchase one of the above goods and services, this tax benefit will help you. Please note that LTA rules for claiming the above have been notified in Budget As mentioned earlier, the LTA scheme was initially introduced only for the Central government employees and later on was also extended to private sector employees. If the employees were not able to claim the deduction under the cash voucher scheme prior to the end of the financial year, the same can be done at the time of filing of Income Tax Return ITR.

However, the taxpayer should ensure that all the specified conditions mentioned above are fulfilled to claim the exemption. The taxpayer should have the GST invoice as well as payment proof while claiming this deduction.