Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2021: Tax Exemption for Cash Allowances in Lieu of LTC Amid COVID-19, Conditions Apply for 2021.</h1> The Finance Bill 2021 proposes a tax exemption for cash allowances in lieu of Leave Travel Concession (LTC) due to the COVID-19 pandemic. For the assessment year starting April 1, 2021, individuals can claim this exemption if they meet specific conditions, such as opting for deemed LTC fare for the 2018-21 block year and incurring specified expenditures taxed at 12% or above GST from registered vendors. The exemption is capped at INR 36,000 per person or one-third of the specified expenditure, whichever is less. Payments must be made through specified banking methods, and tax invoices must be obtained.
TaxTMI 
TaxTMI 