ilmscore | Leave Travel Allowance (LTA) Predictions

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Recent Predictions

Total: 5

Correct: 0

Incorrect: 0

Pending: 5

Unrated: 0

Prediction

Author

Predicted at

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Video

The Leave Travel Allowance (LTA) allows for tax exemption on domestic travel expenses for oneself and family members.

"you can claim a tax exemption in the domestic travel expenditure incurred by you and your family mem..."

Apr 23, 2023

Pending

Only travel expenses like plane, rail, or bus fares are eligible for LTA exemption; local transport, sightseeing, meals, and hotel stays are not.

"only travel expenses such as the employees plane rail or bus f are eligible for this exemption so ex..."

Apr 23, 2023

Pending

If the utilized LTA amount is less than the total allowance, the unutilized portion will be added to the taxable salary.

"your LT is 40,000 rupees and the actual eligible leave travel is only 27,000 rupe then the unutilize..."

Apr 23, 2023

Pending

Individuals in the 30% income tax bracket can save up to ₹9,000 in taxes by utilizing their LTA fully.

"if you're in the 30% income bracket you can save up to 9,000 rupees in taxes"

Apr 23, 2023

Pending

The LTA tax benefit can be claimed a maximum of twice within a four-year period.

"you can only do this twice in a block of four years"

Apr 23, 2023

Pending