Leave Travel Allowance (LTA meaning) is a salary component given to an employee by employers for travel expenses. It is also known as Leave Travel Concession (LTC). It also helps them save tax on the amount spent on traveling within the country once they are on leave from work.
Every company has different LTA policies based on the pay scale, position, etc. Whether a corporation wants to provide LTA to an employee solely or with family is dependent on that only.
When it comes to LTA meaning in salary, employees can claim tax exemption on the amount received as LTA, subject to certain conditions and limitations. As an employee if you don’t know how to claim LTA then- As, LTA full form in salary is – Leave travel allowance, employees need to submit relevant travel documents and proof of expenses to their employer to claim it.
Rules For LTA:
Also, See: Leave Policy
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