Dear Mr. Pankaj,
I have LTA as one of the component of my CTC. The CA of my company says that i always have to submit the proof of it to get the amount at the end of the year no matter taxable or non taxable. He says that if I don't submit the proof then this amount will carry forward and in this way it get accumulated till 5 years and after that it will get lapsed. That means if I don't submit bills than my company will not provide me any amount of LTA even after deducting the tax . This policy does not appear to correct to me and I feel they just don't want to give LTA. It also feel against the laws and regulation of Indian Income Tax department. If it is wrong in the part of my company then can I file any legal complaint against to any authority?
Please suggest.
Best Regards Gaurav
