Leave Travel Concession (LTC)

Leave Travel Concession (LTC)

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The Income-tax act provides various exemptions and allowance benefits to salaried individuals. Leave travel concession (LTC)/Leave travel allowance (LTA) is one of the allowances that become the component of the salary of the employee.  LTC is provided by the employer to employees to meet the travel expenses when the employee is on leave from work. […]