LTC

This condition is not satisfied merely by the trip starting and ending in India

The central government has issued new guidelines for the Leave Travel Concession (LTC) availed by employees, which will now include air tickets

So far employees had only Leave Travel Concession (LTC) benefits on travels made or forgo the amount

Private sector companies offering the benefit of the new LTC cash voucher scheme to its employees will not have to undertake any additional compliance burden, Finance Secy Ajay Bhushan Pandey said

Under cash scheme, now extended to private-sector employees, 3x the LTC fare has to be spent

The Income Tax Department has extended the I-T exemption available under the LTC cash voucher scheme to employees of state governments, state-owned enterprises and private sector

LTC incentive expanded to employees of the private sector, the public sector units and state governments.

Many staffers may may want to take home a car, as scheme comes during the festive season when people are looking at buying big-ticket items

Till now, employees got LTC benefits only on travels made, or had to forgo the amount.

Delhi govt staff can take opt for equivalent of LTC, move to boost spending

Employees need not miss out on LTC benefit in the current block of 4 years

Here are the key announcements made by FM Nirmala Sitharaman

The new schemes which will put an additional burden of Rs 40,000 crore on the government form 0.21 per cent of the GDP

The LTC allows grant of leave and ticket reimbursement to eligible central government employees

A government employee gets reimbursement of tickets for to-and-fro journey, in addition to leaves, when he avails LTC

Leave Travel Concession allows grant of leave, ticket reimbursement to eligible government employees to travel