Leave Travel Allowance (LTA ) is one of best Tax saving tools available to employees.
As per the Rules, you can claim the LTA benefit only twice during the block of 4 years. For this purpose, following condition should be satisfied:
1) You should be on leave.
2) You should travel any where in India.
Family includes spouse, children as well as dependent parents, brothers and sisters. In respect of children born on or after 1.10.98, the exemption will be restricted only to two surviving children unless the birth after one child has resulted in multiple births.
The expense incurred by you is exempt up to the LTA received.
Obviously, if your wife and other family members travel, without you accompanying them, no LTA can be claimed.
For further query/ clarification you can drop us email at info@incometaxreturnindia.in
3) During such travel you may have your family with you.
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