The employer will allow the deduction/ exemption only if proofs are furnished by the employee. In order to reduce the tax burden, the amount of capital gains may be reinvested in specific assets or schemes within the prescribed time limit.
Suraj Nangia, Partner shares his views on the queries raised by Financial Express readers.
http://www.financialexpress.com/money/why-you-need-to-submit-your-travel-bills-to-claim-lta-everything-explained-here/990978/
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