Hi,
Last financial year (2012-2013) I received LTA (amount Rs. 18,000) without submitting any proofs directly in my salary, I came to know that it was non-taxable.
I have few queries regarding LTA and its claiming procedure:-
1. Now, this financial year (2013-2014) I would like to claim my LTA. I have taken 5 days leave and will be travelling out of Bombay.
2. I would like to know what all proofs do I have to submit for LTA Claim this FY (2013-14)?
3. If I only submit proofs up to 10,000/- then what happens ?
4. Is Air/ Rail/Bus tickets, hotel accommodation bills, tourist – rent car bill, paid taxi bill are eligible for LTA claim proof or it depends on my Company Policy?
5. Incase, if I do not submit any proofs will I still receive my LTA (as an added income which will be taxable), or NOT ?
6. Can I carry forward my LTA claim to next financial year, if yes – HOW?
Regards,
Turab Hirani