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Friday, December 25, 2020

Calculation sheet of LTC's new cash package 2020-21.

Calculation sheet of LTC's new cash package 2020-21.

Govt of India has earlier announced about LTC (Leave Travel Concession) Cash voucher scheme for central government employees. Now GOI has confirmed that the LTC voucher scheme would be applicable to all employees i.e. central govt employees, state govt employees, PSU sector employees and private sector employees. If you are part of private sector companies, you might be excited about this scheme. What is this LTC Cash Voucher Scheme? Who is eligible for the LTC Cash Voucher Scheme? What are the guidelines about this scheme? How are the calculations done to get income tax exemption with this Leave Travel Allowance (LTA)?


                                 


Clarification regarding queries being received in respect of Special cash package equivalent of Leave Travel Concession Fare for Central Government Employees during the Block 2018-21 (FAQ No. 2).


The undersigned is directed to say that this Department has been receiving a number of queries relating to Special Package equivalent in lieu of Leave Travel Concession Fare for Central Government Employees during the Block 2018-21 announced by the Government on 12th October, 2020. A set of frequently asked questions have already been clarified vide this Department’s O.M. of even No. dated 20th October, 2020 and is available on this Department’s website viz. doe.gov.in.FAQ Clarification on LTC Cash Voucher Scheme.

1.An employee whose workplace and hometown are same and is eligible for only one all India LTC in one Block Year. If that LTC is exhausted, will he be eligible for this scheme?No. The scheme is in lieu of one LTC available during the block year.

2.A further set of frequently asked questions have been clarified and are attached herewith at Annexure




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