Go on holiday and save tax

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How to save tax by traveling? (LTA)

Leave Travel Allowance (LTA) can be claimed as tax deduction only if it’s a part of your salary structure. You can claim tax deduction of LTA given by the employer or actual travel expense, whichever is lower.

Say for example, if LTA is Rs. 50,000 and actual travel expense is Rs. 60,000, then you can claim a tax deduction of only Rs. 50,000.

The deduction can be claimed for expenses done on domestic travel for yourself, your spouse, your dependent parents, dependent siblings and dependent children. This benefit can be claimed twice in a block of 4 years. The current block is Jan 2022 to Dec 2025.

Remember, you can claim the expenses on travel as deduction only once in the same current year. So if you have traveled twice in the year 2023, you can claim expenses of only one trip as tax deduction.

The LTA not claimed for current year can be carried forward to the next year.

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