Please let me know if LTC exemption calculation is correct.
Amount spent on resort stay by self and eligible family members = 31,270
LTC exemption benefit that can availed = 31,270 / 3 = 10,423
Is the calculation correct?
LTC claim is allowed for only on the actual travel costs i.e., the air, rail or bus fare incurred by the employee. No expenses such as local conveyance, sightseeing, hotel accommodation , food, etc., are eligible for this exemption .