Leave Travel Concession exemption U/s 10(5) of Income Tax Act.
What is exempt?
Value of any travel concession or assistance received or due
To whom?
To the assessee for himself and his family
For what?
In connection with his proceeding on leave.
To Where?
To any place in India.
Condition?
The amount of exemption can in no case exceed the expenditure actually incurred for the purpose of such travel.
How many journeys allowed?
Two journeys in a block of four years is exempt.
Other points?
Only travel fare of shortest route is exempt
