Lta Claim Slot
In December 2016, the Land Transport Authority (LTA) launched a new information display panel for buses, providing commuters with on-route information in real-time. The Passenger Information Display System (PIDS) is a new LCD panel installed on a Tower Transit MAN NL323F single-deck bus ( SMB3053M ), deployed on Bus Service 106 for a 2-month. Claims must be submitted within 30 days of being diagnosed with COVID-19. To make a claim, driver and deliver-partners need to complete the claim form and attach a medical report confirming the diagnosis of COVID-19. Claims can be submitted to Chubb via email (a&hclaims.sg@chubb.com) or phone (+65 6299 0988). It will be carry forwarded to next LTA year. LTA year or LTC is block of 4 years. We are currently on the 1st Jan 2014- 31 Dec 2017 block. You can claim two journeys against your LTA within this year. If for some reason you fail to claim LTA exemption in the bucket of four years – you still have the option to claim exemption in the first year of the next block. Only travel bills can be used for LTA exemption, so a hotel bill can’t be produced for claiming LTA exemption even though you might have stayed in the hotel during your leave.
Leave Travel Allowance
Que.: What is an LTA?
Ans.:- An LTA is the remuneration paid by an employer for Employee’s travel in the country, when he is on leave with the family or alone. LTA amount is tax free.
Que.: Who can claim for an LTA?
Ans.: If an employee is able to furnish the documents as a proof of travel, he can claim the expense of travel in the same year. The total cost of the holidays is not covered, only the travelling cost is covered.
Que.: What documents does an employee need to present to claim for an LTA?
Ans.: An employee must maintain proof of whichever means he has travelled by and wherever he has travelled in the country. The proof is inclusive of tickets, travel agent’s invoice or boarding passes as a proof against his travel which actually help during tax claims. These documents concerning with travelling indicate that an employee has travelled by a particular means of transportation.
Que.: How many members can an employee claim for LTA?
Ans.: Employee and his family. An Employee’s family is inclusive of his siblings and parents who are dependent on him, spouse & up to two children. If your family is travelling without you, an LTA cannot be claimed, so for claiming LTA either an employee has to travel alone, or if his family is travelling, you have to be with them.
Que.: How can an employee get an LTA?
Ans.: An Employee is able to receive leave travel allowance if he has applied for leave from his company and has actually travelled.
Que.: How often can an employee travel using an LTA?
Ans.: The government fixes blocks of years. The current block is January 2010 to December 2013. The previous block is January 2006 to December 2009.
Que.: In what circumstances LTA is tax exempted?
Ans.: An LTA is tax exempted in case he or she travels by taking a shortest route. Travelling can be by economy class air fare, first class rail ticket or first class bus fare. If you cannot get a public transport and take a private like rent a car, get a bill issued by such rental company and can claim expenses equal to first class train fare.
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Que.: Can the entire amount of travelling cost be claimed?
Ans.: Yes, the entire amount of travelling cost can be claimed.
Que.: Can both husband and working spouse claim for LTA?
Ans.: No, LTA cannot be claimed twice for the same journey.
Que.: Can LTA be brought forward?
Ans.: Yes, if an Employee does not avail LTA during the block of 4 years, he can utilize the pending LTA in the first year of the subsequent block and thus can travel more three times in the same block of years.
Que.: How can Leave Travel Allowance be calculated?
Ans.: An employee and his wife are Employees having LTA Rs 20,000/- each as part of the salaries. He travelled with his wife and a child and the travel cost comes to Rs. 15,000/- which is claimable amount for tax deduction but the remaining Rs 5000/- is taxable. At the same time, his spouse cannot claim for tax deduction since at one time only one employer can defray the cost of travel. Only one person from a couple is able to receive benefits of LTA at one time. But if the spouse wants to claim her LTA for another travel she can claim LTA.
Leave Travel Assistance (LTA) has got a tax treatment which is quite different from all the other type of allowances and perquisites that you get. And that’s the primary reason it is the one that gets people confused more often than not.
The following points need to be kept in mind while taking the LTA or producing bills for it to get LTA Exemption:
Can We Claim LTA Every Year?
One of the most common questions about LTA is whether it can be claimed every year or not? The answer is Yes – you can claim LTA every year, but you will not be able to claim LTA exemption ever year.
Other Points About Tax On LTA
- If you do not wish to claim LTA in one particular year you can have your employer carry forward your LTA for the next year.
- For getting LTA tax exempt you will have to produce bills, but you can’t get your LTA exempt every year.
- You can get your LTA exempt twice in a block of four years. Right now the block that is relevant is 2006-2009. This block is decided by the Government so does not have a bearing on when you start your job and also these blocks are calendar years and not financial years.
- The bills can be air, rail or even a private rental company however the exemption is only for domestic travel so an international ticket won’t do.
- The bills have to be for a journey that has been undertaken when you are on leave and should be for you and your family that is spouse, children and dependant parents, brothers and sisters. Its obvious that your family can’t claim the exemption if you have not accompanied them.
- If you and your wife both get LTA – both of you can’t claim exemption for the same travel but you can avail exemption independently for different travels. So effectively between the two of you, you can claim exemptions four times in four years.
- If for some reason you fail to claim LTA exemption in the bucket of four years – you still have the option to claim exemption in the first year of the next block.
- Only travel bills can be used for LTA exemption, so a hotel bill can’t be produced for claiming LTA exemption even though you might have stayed in the hotel during your leave.
- The maximum LTA for the purposes of LTA tax exemption is Rs.20,000 so normally most organizations design the salary structure in such a manner that they don’t give the employees more than Rs. 20000 as LTA.
- In terms of proof for air travel – although there is no fixed rule as such, it might be a good idea to preserve the boarding pass along with the ticket to make sure there are no problems in claiming LTA exemption later on.
- LTA can only be claimed for the shortest distance between two places. So if you are planning to travel from Goa to Mumbai then you will be allowed exemption on tickets from Goa to Mumbai and back. You will not be allowed to produce tickets that are via some other place like Mumbai to Hyderabad and then from Hyderabad to Goa and so forth.
- LTA can only be claimed on tickets or rented private vehicles, you cannot show petrol or diesel vehicles for your own vehicles and then claim exemption on it.
The above are just some of the points that need to be kept in mind while discussing LTA exemptions. Because tax rules keep changing it is best to discuss with a professional before taking any decision.
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We encourage you to ask questions related to LTA or any other tax or financial matter, and we would try our best to provide a solution to it.
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