Hi Professionals,
As per section 10(5), LTC is exempted in connection with his proceeding on leave to any place in India subject to the other conditions. Please advise is there any latest amendment whereby exemption of LTC is extended to travelling to nearby countries i.e. Sri Lanka,Nepal etc.
Thanking you in anticipation,
Ramesh
Leave Travel Concession under Section 10(5) is only for domestic travel, not for trips to Sri Lanka or Nepal. A query was raised regarding the Leave Travel Concession (LTC) exemption under section 10(5) of the Income Tax Act, questioning whether it extends to travel to nearby countries like Sri Lanka and Nepal. Multiple respondents, including professionals in the field, confirmed that LTC exemptions are applicable only for travel within India. They emphasized that there have been no amendments to extend these exemptions to international travel, citing relevant tax rulings and affirming that the provision strictly applies to domestic travel. (AI Summary)
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