Finance Ministry Extends I-T Exemption under LTC Cash Voucher Scheme to Non-Central Government Employees

Government has decided to extend the income tax exemption available under leave travel concession (LTC) cash voucher scheme to non-central government employees also to boost consumer spending. Non-central government employees will include employees of state governments, public sector enterprises, banks and private sector.

 The move will permit non-government representatives additionally to guarantee tax exempt money stipend from their bosses if a LTC conspire like one in the administration



area is remembered for their working agreement. 

The merchandise and ventures ought to be bought distinctly from GST enlisted sellers through advanced mode. Representatives should make this installment during October 12, 2020 to March 31, 2021.

 

The government on October 12 announced giving out cash vouchers to central government employees this year in lieu LTC fare which could be spent only on buying non-food items with GST rate of 12 per cent or above.