Tax exemption on Leave Travel Allowance(LTA)

   The Income-Tax Department allows you to claim exemption from tax on leave travel allowance only twice in a block of four calendar years.

   With the year end approaching, are you planning a vacation to use up the Leave Travel Allowance (LTA) your office offers? Good idea! But while you’re planning and packing for that holiday, spare a thought for what LTA means for your taxes. With that in mind, here are three aspects about LTA that you should keep note of.

EXEMPTIONS

   First and the most important is the tax exemption angle. If you have been thinking that the amount you get as LTA is tax-free all the time, you are not correct. The Income-Tax department allows you to claim exemption from tax on this amount only twice in a block of four calendar years.

RECRUITMENT FOR THE POST OF SEMI-SKILLED TRADESMEN at Ordnance Equipment Factory, Kanpur.

NAME OF THE POSTS AND NUMBER OF VACANCIES

1. TAILOR –75

2. FITTER GEN –08

3. PAINTER –05

4. WELDER –02

5. ELECTRICIAN –10