ELIGIBLE FOR LTC

LTA for central govt employees: Employers offer Leave Travel Allowance (LTA) to offset travel expenses during leave. It covers airfare, train tickets, or public transport, but reimbursement is capped by employer or tax limits. Confusions arise, espe...

The Leave Travel Concession (LTC) initiative offers government employees a discounted travel option to go to any destination in India or to their home town during a a block of four years. . Are all central government employees eligible for LTC? What...

LTC new rules for Central Govt employees: In an Office Memorandum released earlier this month, the DoPT has mentioned how certain charges related to air travel or rail travel would be reimbursed to those Central Government employees who are eligible...

The Department of Personnel and Training (DoPT) has extended the Leave Travel Concession (LTC) block year 2018-2021 for a period of three months for central government employees.

The government has published Frequently Asked Questions (FAQs) on leave policies and entitlements. This replaces the CCS (Leave) Rules of 1972 FAQs, which were previously published on the DOPT website on March 25, 2013, and April 28, 2015, respectiv...

What happens if the bills were not submitted to the employer before the March 31 deadline under the LTC Cash Voucher Scheme? As per chartered accountants, the Income-tax Act, 1961 is silent on whether the tax-exemption on LTC Cash Voucher Scheme can...

As per the government, individuals having LTC/LTA in their salary package would have been unable to travel and claim income tax exemption on the travel tickets due to the pandemic induced lockdown. Thus, this scheme was introduced last year.

On Friday, the government exempted recipients from taxation for financial help received from employers or others to meet Covid-19 treatment expenditures from financial year 2019-20 onwards.

The government has announced the LTC Cash Voucher Scheme in lieu of LTC travel scheme via a press conference dated October 12, 2020. As the employees may have several queries regarding the scheme, the government has put 15 faqs to resolve the employ...

HRA is the most common CTC component. Those staying in rented accommodation can avail of an exemption against the HRA received and only the balance will be taxable.

Government has announced the LTC Cash Voucher Scheme for the central government employees which was later extended to the private sector employees as well. Here is how these employees can avail the tax benefit under the LTC scheme.

Here is a look at the details of how central government employees can avail the LTC cash voucher scheme as per an office memorandum issued by the government on October 12, 2020.

Here is a look at how much you stand to gain by opting for the LTC cash voucher. This story will tell you about the rules of availing the LTC benefit and compare it to the conditions specified under the new voucher. Further, we will tell you if you ...

The FAQs No 3 issued by the Finance Ministry on LTC Cash Voucher Scheme does not clarify whether payment of insurance premium refers to all the existing insurance policies or certain types of existing policies.

Although it has been almost a month since the scheme was announced many private sector companies have still not rolled out the scheme for their employees because they are waiting for the final notification CBDT before extending the benefit to its em...

However, payment of premium for existing insurance policies would not be covered under the LTC cash voucher scheme. "Payment of premium for insurance policies purchased during the period between October 12, 2020, and March 31, 2021, is eligible for ...

Government on October 12 announced the LTC cash voucher scheme under which employees can purchase any goods or services with a GST rate of 12 per cent or above to avail the benefit. The payments for such purchases have to be made via digital mode or...

Under the new scheme, employees will have to submit to their companies bills indicating expenditure of an amount 3-times of the LTC. The companies as in past will maintain the records and only submit them to Income Tax Department if sought for.

As per existing income tax law, an employee can claim tax-exempt payment of LTA/LTC (if provided by employer) equal to the fare of domestic travel subject to limits and conditions. To claim this tax exemption, an employee is normally required to pro...