Archive for October, 2013
In an earlier post we looked at the conditions governing tax exemption on leave travel allowance (LTA). In this post we will look at the calculation of the tax exemption amount. As mentioned in the earlier post, the exemption is available only on travel expenses (ticket fare etc.) incurred by the employee on leave travel. […]
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Leave a Comment (66) →As a company engaged in the business of payroll processing and statutory compliance related to payroll, we wonder if the tax law governing tax exemption on Leave Travel Allowance (LTA) is the most complex tax legislation in India. Not only is the law difficult to understand and interpret but also quite difficult to implement. Each […]
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Leave a Comment (122) →As per a recent circular issued by the Income Tax Department, employees who pay house rent of more than Rs 1 lakh per annum should submit the Permanent Account Number (PAN) of their landlord to the employer if they wish to claim tax exemption on House Rent Allowance (HRA). This is effective for the tax […]
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Leave a Comment (2) →Joyful Payroll
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