Availing LTC

t3chg33k said:
I was aware of this since December but was waiting to make purchases to avail the full benefit.

Today, came to know that the system to declare tax benefits has been closed for this FY which is stupid since bills dated until March 31 are supposed to be accepted and you can submit the request to the company only once.

Guess I have a futile fight ahead to avail the benefit and I am not sure if it can be declared while filing the returns due to it being organisation dependent.
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Same here bro, my org also closed accepting it and I was not aware of this. I have sent them an email today after checking this thread, let’s see what do they reply.
This is very silly that private sector employees don’t have any intimation on this :(
 
dafreaking said:
Yeh some companies have been super weird about it.

My wife's company also had the clause that GST should be 18% or more on those products so all her clothes, accessories, etc didn't count.
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eh? according to govt rules its for items attracting 12% gst or more. If you have a email explaining this, forward it to govt organisations
 
burntwingzZz said:
do you have that communication in writing or any email , you could report the organization to IT for not complying

i get it though the organization closing their proof acceptance on 10 march is too brutal & This special LTC schemes last date is contradictory , organizations cant deny the claim they have to budge
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nishthecooldude said:
Same here bro, my org also closed accepting it and I was not aware of this. I have sent them an email today after checking this thread, let’s see what do they reply.
This is very silly that private sector employees don’t have any intimation on this :(
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Yeah, they are trying to divert it by stating that it has to be taken up now with a tax adviser which doesn't make any sense as it has to come through the organisation. Let's see how much I can escalate this.
 
Sorry for the confusion. 18% is what they had mentioned in the first email. They corrected it to 12%

I wonder how they came up with the start date of 12th October
 
t3chg33k said:
Yeah, they are trying to divert it by stating that it has to be taken up now with a tax adviser which doesn't make any sense as it has to come through the organisation. Let's see how much I can escalate this.
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Finally managed to get the benefits registered through the Payroll department after multiple redirections. All's well that ends well I guess.
 
burntwingzZz said:
@t3chg33k

well will we get our tax exemption (LTC claim) in the form of rebate or did your organization gave it in the form of salary ?
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Yep, it was displayed in the March salary slip as LTA exemption. However, the amount considered was 36k despite the fact that I had mentioned that I have dependent parents and submitted bills close to 1.5L.
 
t3chg33k said:
Yep, it was displayed in the March salary slip as LTA exemption. However, the amount considered was 36k despite the fact that I had mentioned that I have dependent parents and submitted bills close to 1.5L.
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Dude 36k is the max allowed exemption so you had to spend 36x3 to avail 36k exemption
 
burntwingzZz said:
Dude 36k is the max allowed exemption so you had to spend 36x3 to avail 36k exemption
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Yeah, as I mentioned I had bills running up to 1.5L, so as per the policy I should have been able to claim 50k with parents as dependents but there is no point now in taking this up with the payroll department as they won't change anything for the previous FY. The 36k exemption is based on 1.08L expense.
 
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