Utilise your employee perks before the end of the year

AS THE CALENDAR turns its final pages, many of us focus on wrapping up deliverables, planning for the next year or quarter, and preparing for a well-deserved break.

- The writer is tax partner, EY India. Shanmuga Prasad, tax director, EY India also contributed to the article

One area that merits equal attention is the benefits package of an employee. These benefits often operate on a “use it or lose it” basis expiring at the end of the financial or calendar year if left unutilised.Before theyear closes, it’s worth reviewing your HR or payroll portal to understand what benefits remain available under your package.

Leave Travel Allowance

If your salary structure includes a Leave Travel Allowance (LTA) component, this could be an excellent time to make use of it especially under the old tax regime, where such allowances continue to enjoy tax exemptions. Given that the LTA block is ending this December 31, 2025, it may be a wise choice to claim that LTA lying untouched in your benefits package.

Turning leave into value