1. The first step is LTA amount should be allocated in FBP. The maximum amount that can be allocated from FBP is Rs 40000/- per annum. To avail LTA you should have completed 6 months service in HP
2. Claiming LTA as non taxable
a. to fill up LTA claim form
b. Fill up LTA exemption Form
c. Attach all original travel tickets
d. To avail 5 working days privilege leave
3. Original tickets for having traveled in I a/c train or Bus or Air (including boarding pass) to be attached. If you travel by taxi then you will be eligible to claim exemption only the Ist Class AC fare. For which you should provide the details of fare from the internet site.
4. Only travel (ticket costs) will be taken for exemption. Boarding and lodging or incidental expenses in the places visited are not qualified for any exemption.
5. Exemption is allowed for the travel made from one place to another and return ie from place A to B and B to A. and not any deviation in the journey. Therefore, journey made for visiting multiple places ( tourist) is not eligible for exemption
6. LTA exemption can be claimed twice in a block of 4 years ie calender year. The current block is 2002, 2003, 2004 and 2005. Next block of 4 years is 2006,2007,2008 and 2009.
7. In case, only one exemption is claimed in this block of 4 years, you can carry forward one exemption to next block of 4 years . In other words, you can claim exemption thrice in the block of next 4 years if you had availed only one exemption in the current block of 4 years
8. You can claim LTA exemption for the journey made by self, wife, dependant children, dependant parents, dependant brothers and dependent sisters provided dependants are declared by you in HR records at the time of joining duty.
9. Travel tickets to be submitted within 15 days from the date of return of journey
10. International travel will not be allowed under IT rules for claiming LTA
10. Above all, please note that final responsibility in proving the correctness of bills lies with employee only
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