Submit LTA proofs before March 31, 2025, to avoid risking tax notice when claiming LTA tax exemption in income tax return

LTA exemption: A salaried employee opting for the old tax regime can claim an exemption for leave travel allowance under Section 10(5) of the Income Tax Act. LTA tax exemption cannot be claimed for foreign travel. There are income tax rules defined to claim the exemption on leave travel allowance.

from Tax-Wealth-Economic Times https://ift.tt/60pUqDn