POSTED BY April 1, 2013 3:09 pm COMMENTS (2)
ONI am employed by a pvt company. I travelled in Dec2012. And again in Mar2013. Will I be able to claim LTA exemption for both travels as these two travels are in different calendar years? I have not claimed exemption so far in 2010-13 block. Is there any restriction that LTA can be claimed only for one travel in a financial year?
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Dear Etaxmentor, as the 2 journeys by your clients were performed in same FY, only 1 ‘ll be available for tax exemption. To claim for FY 2013-14, the journey should be in that FY only, which is not the case with your clients.
Thanks
Ashal
Current block for LTA is Jan 2010 to Dec 2013. It is 4 year block which calendar year into account. To answer your question you can claim only one LTA exemtion in one financial year.
You should be able to claim your March 13 journey in your next FY exemptions.