LTA is a perk allowing employees to travel within India.
Conditions for claiming LTA exemption include:
It should be part of the salary structure.
Exemption is for domestic travel expenses for self and family.
Limited to two trips in a block of four calendar years.
Unutilized exemption can be carried over to the next block.
Exemption is only for actual travel expenses, not other costs like accommodation.
Different modes of travel have specific limits for exemption.
To claim LTA exemption, employees must provide supporting evidence to their employers.