Section 10(5) of the Income Tax Act,1961
This query is : Open
25 November 2020
We Central Government employees have the benefit of Leave Travel Concession (LTC) wherein the rail fares/air fares are borne by the Central Government. What would be the income tax treatment for it?
Further we Central Government employees can encash 10 days of our Earned Leave on availing Leave Travel Concession (LTC). Should the amount received on leave encashment on LTC be added to gross salary? What would be the income tax treatment for it?
Is Section 10 (5) of the Income Tax Act applicable to Central Government employees? What are its provisions with reference to Central Government employees?
Further we Central Government employees can encash 10 days of our Earned Leave on availing Leave Travel Concession (LTC). Should the amount received on leave encashment on LTC be added to gross salary? What would be the income tax treatment for it?
Is Section 10 (5) of the Income Tax Act applicable to Central Government employees? What are its provisions with reference to Central Government employees?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
CAclubindia
