Hi Experts,
Pls guide me to include LTA amount under exemption. As per taxation, every second year the LTA amount should be exempted from the tax. In our system LTA amount is taxable. It is not reflecting in u/s 10 in salary slip. our custom wage type is 8LTA.
We are paying LTA amount under IT(0015) additional payment on yearly base.
Should i maintain the evaluation class and their specification in table V_512W_D for our custom wage type (8LTA) ?
How can i put LTA in exemption in every alternate year?
Thanks,
Shree NP