Thursday, July 7, 2016

Concessionary Travel NFDC

Hello and welcome to 53 of the income tax education series brought to you by it's not block. The global leader in filing income tax returns. Today we will talk about leave travel allowance. Let's see you spend money on travel every year when you go for your holidays.

Concessionary Travel NFDC
Concessionary Travel NFDC

Can you get tax exemption for this expense. The answer is yes. You don't get an exemption from tax on the amount that you spend on Johnny's. Leave travel allowance is an allowance given to an employee to meet the expenses of Johnny. Yeah exemption can be claimed or leave your journeys in the block of 40 years. And is limited to the amount activities Benton journey.

Yeah this deduction you have to preserve the Johnny decades as a group. Even if you and your spouse under date more than one Johnny. You have to make in this deduction but your prospective employers put Duchovny's each in a block of 40 years. You can maximize your deduction and reduce tax liability. What is number could not and his wife's what the driver W. monopoly on a vacation in the month of 5/8/2015 spending 15 on flight Jenny. And then again to get it up. In October 2015 spending 2 on flight journeys. And I didn't see but not in this case with the yet as 2 rupees. And that's what he is 1 apiece.

The deduction will be limited to the amount of empty and received on the amount spent in Johnny's whichever is less. Hence if not of games at the a deduction for that get a larger. Then he will get an exemption or at least 2. Since he spent so please 2 on his journey. Sloppy on the other hand is white. They get an exemption off on PBS 1. Even if they have spent trapeze. The 0 on their journey WNIT since the FDA that she receives is only a piece. 0. There is a condition. And the idea. That the amount allowed as exemption. It will be for the shortest. I mean the 2 destinations. Also now that could not ends what the half of anything exemption in 2. They can claim exemption only once. In the block of. 2. 90. I hope you found this useful. If you have any further questions on this topic.