LEAVE TRAVEL CONCESSION
LTC rules for central government employees released: Who is eligible, who is not? Find out here
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 are the terms and conditions of LTC? All you need to know.
Australian prime minister announces China visit hours before leaving for US to meet Biden
Australian Prime Minister Anthony Albanese has announced that he will visit China in early November, becoming the first Australian PM to do so in seven years. This comes after China agreed to review the tariffs imposed on Australian wine, which have disrupted trade since 2020. The visit aims to repair relations between the two countries, with Albanese stating that stable relations are in the interest of both Australia and China.
LTC Block Year 2018-21 extended for three months for central govt employees; know details
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.
Reimbursement for foreign travel, not an absolute right: Madras HC
Justice S M Subramaniam gave the ruling on June 24 while dismissing a writ petition from the All India State Bank Officers Federation in Chennai and All India Bank Officers' Confederation in New Delhi challenging various orders passed in 2014 by the authorities concerned and consequently direct them to continue the LTC/HTC to cover foreign travels as provided to the officers of the banks prior to April, 2014.
CEC Rajiv Kumar, EC Anup Chandra Pandey voluntarily give up perks as part of austerity measure
After assuming the charge as the Chief Election Commissioner last week, Rajiv Kumar on Friday held the first meeting of the Election Commission, along with fellow Election Commissioner Anup Chandra Pandey. At present, there is one vacancy in the poll panel which had been a three-member body since October 1993.
How to claim LTA from your employer
Before availing of the tax benefit on LTA, there are, however, certain other important conditions attached to it. Read on to know them. Do keep in mind that tax exemption on LTA can be claimed in the old tax regime only for FY 2021-22.
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How central government employees can avail benefit under LTC cash voucher 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.
Should you opt for the LTC cash voucher scheme? Here's how much tax you will save
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 should indeed opt for this scheme.
Renewal insurance premium excluded from LTC cash scheme: Does this apply to motor, health covers?
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.
Delay in LTC Cash Voucher Scheme notification may make it difficult to claim full benefit
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 employees under the scheme.
Insurance premium paid between Oct 12-Mar 31 period eligible for reimbursement under LTC scheme
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 reimbursement under the scheme," the Finance Ministry said.
Toyota Kirloskar Motor announces assured buyback offer of 55 per cent on Yaris, Glanza
The wide array of special benefits, ranging from unique buyback offers to some of the lowest EMIs are aimed at easing purchase decisions in the festive season, it said.
Delhi government employees need to purchase only from city-registered dealers to avail LTC scheme benefits
Delhi government employees welfare association general secretary Umesh Batra welcomed the decision, saying it will stimulate consumer demand during the festival season and boost the economy.
Govt employees can submit multiple bills to avail LTC cash voucher scheme benefit
The Expenditure Department, under the Ministry, has issued a set of FAQs (Frequently Asked Questions) on LTC cash voucher scheme, clarifying that an employee can also avail the scheme utilising the applicable LTC fare without leave encashment.
Delhi government employees can opt for cash equivalent of Leave Travel Concession
The Finance department under Deputy Chief Minister Manish Sisodia has decided to give a mega festive package to Delhi government employees in view of the hardships due to the COVID-19 pandemic and the lockdown, an official statement said.
New tax regime doesn't allow LTC cash voucher tax benefit: Experts
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 provide proof of his travel.
Nirmala Sitharaman offers tax exempt payment of LTC/LTA without the need to travel
According to a report by ET, Finance minister Nirmala Sitharaman announced measures to stimulate consumer spending and capital expenditure that would generate demand of Rs 1 lakh crore, including the private sector, and in turn help growth of gross domestic product (GDP). The scheme offers tax exempt payment of leave travel concession/allowance (LTC/LTA) to employees without the need for them to travel if the amount is spent as per specified conditions below. This benefit is available till March 31, 2021.
Government to give cash vouchers to staff in lieu of LTC this year: Finance Minister
Finance Minister Nirmala Sitharaman said the employees could buy items that attract 12 per cent or more goods and services tax (GST). These purchases will have to be made in digital mode from GST-registered outlets.
Government employees may soon be able to go abroad on LTC
The move to allow central government employees to visit these countries is aimed at increasing India's footprint in the strategically important Central Asian region.
Central govt employees will no longer get daily allowance on Leave Travel Concession
The LTC allows the grant of leave and ticket reimbursement to employees who are entitled under the rules to travel to their home towns and other places.
Justice Kurian Joseph seeks 8 LTCs a year for Supreme Court judges
The LTCs granted to SC judges is the same as an IAS officer in the rank of secretary. However, Unlike IAS officers, SC judges can travel anywhere in India on the LTCs thrice a year.
Nearly three-fold hike in UPSC chief's salary
As per the new norms, "the chairman shall receive a pay of Rs 2,50,000 and each of the other members shall receive a pay of Rs 2,25,000 per mensem".
Government warns employees of action for misusing Leave Travel Concession
A government employee gets reimbursement of tickets for to-and-fro journey, in addition to leaves, when he avails LTC.
How to pay less income tax post Budget 2017 and beyond
Nothing in this world is certain except for death and taxes, a saying goes. However, you can soften the blow from the latter, completely legally.
Central government employees can fly to Jammu and Kashmir, Northeastern states on LTC
The DoPT had in September 2014 relaxed the LTC rules to allow government servants to travel by air to Northeast region, Jammu and Kashmir and Andaman and Nicobar Islands.
New LTC rules: Employees can take private airline to travel to Jammu and Kashmir
For visiting J-K, the government later decided to allow travel by private airlines under a special dispensation scheme.
Leave Travel Concession: Centre allows non-entitled government employees to travel by air
The DoPT has decided to put a limit of one month for verification of LTC claim after the LTC bill is submitted by government employee for settlement and final payment.
No LTC for government employees posted in hometown
Apart from that, employees cannot convert hometown LTC to avail special travel concessions for Northeast, J&K and Andaman and Nicobar Islands.
Government employees may get LTC to visit SAARC nations
The decision has been taken to promote people-to-people contact and boost tourism among the SAARC regions, Jitendra Singh said.
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