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How to claim Leave Travel Allowance: Know eligibility, LTA rules, documents required and other key details | Business

Financial Literacy News: Employees opting for the old tax regime should be aware of the various exemptions and deductions that they can claim to reduce their tax. Leave Travel Allowance (LTA) is one such benefit. If it's included in their salary or cost-to-company (CTC), employees can claim it. ....

Aalok Agrawal , Neeraj Agarwala , Shalini Jain , Kuldip Kumar , Partner At Mainstay Tax Advisors , Leave Travel Allowance , Travel Allowance , Nangia Andersen India , New Income Tax Regime , Mainstay Tax Advisors , Tax Partner , Income Tax Rules ,

Payments By Supervisors To Individual Labourers, Each Not Exceeding Rs. 20,000, Can't Be Disallowed: Calcutta High Court

The Calcutta High Court has held that payments by supervisors to individual labourers, each not exceeding Rs. 20,000, cannot be disallowed under Section 40A(3) of the Income Tax Act, 1961.The bench of. ....

West Bengal , Justice Rajarshi Bharadwaj , Justice Surya Prakash Kesarwani , Calcutta High Court , Income Tax Act , Income Tax Rules , Indian Contract Act , Indian Contract , For Appellant ,

AO To Record Dissatisfaction With Correctness Of Claim Of Assessee In Respect Of Expenditure: Bombay High Court

The Bombay High Court has held that the Assessing Officer should record his dissatisfaction with the correctness of the claim of the assessee in respect of the expenditure, and to arrive at such. ....

Justicekr Shriram , Suresh Kumar , Bombay High Court , Assessing Officer , Justice Neela Gokhale , Income Tax , Income Tax Rules , For Appellant ,