What are benefits of declaring LTA and phone in flexible benefit plan ? Will my in hand salary get impacted ? Will I get any benefit in income tax ? Will these amounts get paid monthly or annually ? Do I need to submit some proof like air tickets in any portal to get income tax benefits ? And will I need to do any extra efforts like raising some request to get it back ? This for EY GDS India.

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Flexible benefit is basically done for LTA - Leave travel Allowance and phone/ internet expense - if you claim that - both amount will be kept on hold and that will be deducted from your salary on monthly basis. Half yearly or annually you can claim that producing the bills - no tax will be charged for this.. in case if you don't produce bill they will credit it in your salary one shot (but tax will deducted)

Almost 30k you get tax benefit if you do it.!

I never kept thinking let govt take tax and i get monthly amount ! Some people think to get 30k at ashot they that way as well!

If this is helpful hit a love.

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+Following

Interesting that a GAM doesn’t know these basics.

Interesting indeed!

But its never too late to learn tax & financial planning. Ideally, this should have been a course in final semester.

Will follow this thread as I am unaware as well!

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