Leave Travel Allowance Monthly Payout

You can now define the Leave Travel Allowance (LTA) component to pay monthly LTA amount to your employees. In this approach employees can receive monthly LTA amount as taxable in advance. The exemption can be given to employees when they claim the LTA with required information.

LTA can be paid as a monthly component.

Steps to Enable and Configure

To enable LTA Monthly Payout in the LTA element:

LTA Element

LTA Element Creation Questionnaire

Use the Elements task to create the LTA Element.

  1. Select Yes for the question Is this element paid every month?.

To enable Monthly Payout in the Income Tax TRU:

  1. Navigate to the Income TRU

LTA Element IT TRU Setting

LTA Element IT TRU Setting

  1. Select Monthly Payout in the LTA Payment Month.
  2. In LTA Accumulation Period, select No Accumulation as the option.