Economics · Income Tax Act
Under the Income Tax Act, 1961, Leave Travel Concession (LTC) is a _______.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Tax-free perquisite for one journey in a block of 4 years
- 2Taxable perquisite
- 3Tax-free perquisite for two journeys in a block of 4 years✓
- 4Tax-free perquisite for one journey per year
Correct answer
Tax-free perquisite for two journeys in a block of 4 years
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