Using leave travel concession (LTC)
This is a part of your salary that can be used to fund your holidays after understanding the finer details involved. The rules for claiming this salary component could vary.
Some companies provide LTC for domestic travel only, while some may include international travel. But there could be caveats. for instnace, reimbursement may be only for air or rail, not road travel.
At times, the employer may allow you to claim LTC once in two years. This can be utisiled for an expensive travel plan. Depending on how your employers pay the LTC component, you can make the best possible use of the amount. If your employer requires you to take the LTC every year, after deducting tax, invest this amount separately for your future holidays as soon as it comes into your accounts.
If both husband and wife are entitled to LTC from their employers, each can claim their part of the travel cost or each can claim it in alternate years.
Image: Machu Picchu, Peru