Does LTA and phone allowance are processed each month as a taxable income if we do not produce the bills ?

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LTA is not processed each month. It's accumulated and needs to be claimed with or without travel. Only with valid travel documents it's not taxable. Whereas for the telephone bill it can be claimed by producing bills each month or once in 2 months or in a quarter based on the convenience.

What happens if we do not claim LTA?

Can we remove the LTA component so that we get it as a taxable income In hand each month ?

Yes

How many taxable LTA claims can we make per year?

Just make one claim at end of the year for the whole amount

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