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

like
Posting as :
works at
You are currently posting as works at

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

Related Posts

Has anyone diversified and invested in govt bonds? What’s the yield like? Is there a lock-in term?

New to this welcome any article or insights

like

Is there anyone from Canada here? I’m looking for some information on working out of the country, but selling insurance.
Thanks

like

Any investors in the woodlands Texas for single family homes, rent looks good as per Zillow , good school district and houses are still affordable compared to Dallas and Austin

like

Any recommendations on credit cards with lounge access? Currently have the Chase Sapphire Reserve which has Priority Pass, but have been turned away from lounges not accepting PP at peak times

like

Anyone have any luck selling a condo in chicago using Redfin? The 1% fee for listing is attractive compared to the standard 6% with an agent. Are there extra fees with RedFin that I should be aware of? Looking to sell as quickly as possible so weighing the options and just starting to interview agents and look around for the best way to get my place listed.

like

Has anyone considered moving from NYC to Houston? Any advice of why not to do it apart from the Texas heat. The homes are so much bigger and taxes much lower.

like

From a financial standpoint in this market, which would be a better approach in Austin -

1. Buy a ~8-850k house that meets most of our ideal criteria (size, schools, interiors etc) to stay long term

2. Buy a ~5-550k house that’s not ideal with the plan of moving into an ideal home in 4-5 years when kid is ready for school.

How easy is it to get a mortgage for the second home?

Household income - 300k

Happy to add more details as needed

Thanks

How long did it take after getting your license to actually start making money?

like

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

So what stonks are we buying?

like

Moving to NYC this summer, making 40x rent for most places but don't have any credit score (non US citizen).

Any tips on how to avoid expensive gurantors?

likesmart

Are commercial properties getting inflated like residential? Thinking of getting into commercial to extra income.

What are your favorite personal finance books? I just read Rich Habits and really liked it. I am also reading the Psychology of Money. Looking to read some more!

like

Thinking about buying first home. ~$600k. How was your VA home loan experience? In a competitive market, was it a weakness? Is it an issue with lenders? Do I need a RE agent well versed with them? THX

like

Hi Fishes,

My wife is getting transferred to California and she is offered 143k.

How much she can get after tax deduction and all? How much she can save after all the expenses?

She is insisting that I travel with her and get the job in the US. I'm a software developer having 4.1 YOE. How much can I get in the US? Is it worth traveling with her?

Any information would be helpful, Thanks in advance...

like

Looking for some therapy, frankly. Somehow I've tied my self worth to my salary over the years. About to take a pay cut and having trouble accepting it, though I know extra time and overall balance will be worth it. Help!

likehelpful

What’s everyone using instead of Robinhood? I just learned of WeBull recently but am not sure it’s for me.

like

Thoughts on buying TWLO under 320 vs. SQ under 240 or neither?

like

Is Bitcoin about to fall below 30k or rally back above 40k. Vote below 🔮

likefunny

More Posts

How does your firm measure utilization? I work for a small boutique that defines it as utilization = number of billable hours/2,080 and full bonus payout occurs at 80% plus.

like

How are you spending your weekend?

Post Photo
likefunnyuplifting

What did you as a data analyst make 3 years out of college?

like

What’s the most effective way to train 200+ Staff on new technology or system releases? What do big companies do?

My thoughts are to build a community where Staff can talk and answer each other’s questions through MS Teams, but can that really be done effectively?

like

What are the best companies to be a PM at in the LA area? Any recommended startups/small biz?

like

Is Word or PDF format resume more compatible with ATS? P.S. I have invisible tables underline my resume. Please advise. THANKS!!

like

Anyone working in Progressive as a CAT field rep? What are your thoughts on this role? Pros, cons, tips?

like

Say I work in tech and have a decent finance experience. Would my 3 yoe of domain "expertise" in tech make me an attractive bet for the banks Tech coverage team? In other words, does having experience in Tech make me more hireable for IBD?

like
like

Why do we put up with the dysfunctional BS from our peers and superiors? Are we well-compensated chumps?

like

Curious to know what other firm's bonus structures are, particularly those with billable requirements of 1900 and below. Trying to understand what the norm is and figure out if associates at my firm are getting screwed. thanks

like

Is 150 billable hours per month little/average/a lot?

like

Idk, maybe it’s time we bring these engineers and techs down. If my 🧠 links to a 💻 , all of my non-billable work will come to light. 😤

Post Photo
like

I've a question on what sections to put on a regular resume. I see some people are using consulting style resume for outside companies as well. Do you think it's a good idea to devide work experience by projets? Or is it better to have "projects highlights" separate from work experience.. something like: intro>functional expertise> project highlights>work experience>education?

like

Bain & Company What is the timeline for experienced hiring for Bain & Company ? Interested in making a move from Parthenon, but not sure if I should be targeting a specific window. If anyone is willing to chat, please let me know!

like

Need tips & encouragement for how you have gotten out of a slump in the past. I am 3.5 yrs in and have seen my practice growing (some quarters better than others ), but Q219 has been really tough.

like

Got an opportunity at a boutique firm. I’m a 2nd year in big law and never moved before. What are the pros and cons of leaving Big Law to go boutique? What should I be aware of before saying yes?

like

Hi guyz recently received offer from open text but when asked I told them that I have only 1 month notice period but actually I have 3 months notice period now ....I am bothered about loosing my offer if I say to open text requirement team about my notice period....any suggestion guyz

like

Is cold calling still a thing?

Where to buy skinny fit casual blazers? that also doesn’t break the bank

like

Additional Posts in Deloitte India (DI)

What are the opportunities in DI or D USI for Semi Qualified CA in Risk advisory or Internal Audit department? Also what is the range of pay scale. Please suggest whether I should apply for the job in deloitte?

like
like

Can sm1 help in calculating in hand salary for below brk up after maxing out 80c and 24A.Thanks in advance.

Post Photo
like

For Deloitte India, Manager level how many references are required to be submitted from the previous organisation for background verification (bgv)?

like

Hi All, Can some one please refer me in Deloitte. I have the Requisition code. Deloitte Deloitte India

Thank you

like

Deloitte Deloitte India Deloitte USI

Post Photo
like

Just joined Deloitte India. Worst on boarding ever. The people were like robots, reading scripted matter. Seriously it was a pathetic experience. Esp Mumbai Talent team people unable to take queries even gave false information about leave policy. Deloitte Deloitte India Deloitte USI

like

Hi fishes, I am looking for an opportunity in Siebel admin/ Siebel upgrade. Currently working as a Sr Analyst. Any leads would be helpful.
Yoe: 5 yrs

like

Can anyone please help me with LTA and mobile expense reimbursement at Deloitte India?
Do I have to claim it without proof every month for LTA? What about mobile expense?

Hey Fishes,

I have few offers in hand and I'm working with DI as consultant. What are the chances that I have to be retained by DI itself? Do they match up with Salary provided by others?

Let me know :)

like

What kind of projects would one be working in Deloitte USI as a Front end Angular developer with 7.1yrs of exp? Anyone currently working or worked on the same stack at Deloitte USI explain ? Deloitte Deloitte USI

Joined Deloitte india in management consulting in Oct. On bench since 6 months.
Does Deloitte lay off if bench period is extended??

like
like

Why is Deloitte giving Iphones to people and what is this well being program? Can anyone explain.
Also, does it apply to Deloitte India(not USI) employees? Thinking of joining Deloitte India in feb in consulting service line.

What is the avg yearly hike in deloitte india risk advisory?

like

3 years of experience as a corporate lawyer.
Expecting an offer from both Deloitte India and Capgemini.
Deloitte India - Senior Consultant
Capgemini - Associate Consultant

Capgemini has verbally promised me 9 LPA but the offer is yet to be released.
Deloitte India has not yet communicated any offer, neither verbal nor formal.

I am more inclined towards joining Deloitte India as it is a bigger position than Capgemini.

Am I on the right track?

Please share the hierarchy for RISK ADVISORY SERVICES in Deloitte India.
I am having 4+ years of experience. Also please advise expected CTC and designation.

like

Hi DI folks, how were the hikes last year??

like

Hey Fishes Looking out for a job change and came across vacancies at Deloitte India as per my profile and experience. Can someone kindly help me with the referral. That'll be great help. Have been trying from a long time to switch but nothing fruitful yet. Your referral might make the job hunt a bit easier so kindly help. Yoe: 3.3 Profile: SAP SD associate consultant Immediate joiner
Deloitte India
Thanks in advance for your help.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal