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LTA Calculator: In this example provided by Tanu Gupta, Partner at Mainstay Tax Advisors LLP, it can be seen that your LTA exemption depends on factors such as the LTA entitlement and the actual expenditure incurred. Expenses for hotel accommodation and food are not covered under LTA. Mr. X with an LTA entitlement of Rs 75,000 and expenditure of Rs 90,000 is able to claim his full LTA exemption of Rs 75,000. Mr Y, with an LTA entitlement of Rs 1.5 lakh and actual expenditure of Rs 90,000, gets to claim only Rs 90,000. However, since Mr Y has only availed his LTA once in a block of 4 years, he will be able to avail the exemption next year.
