1. Do the benefits of LTC rules bring any IT relief to employees?
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The benefits of LTC rules bring advantages with regard to IT exemption under the LTC cash voucher scheme.
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For central government employees in India, leave travel concession (LTC) is one of the benefits that employers get from their employment. Leave travel concession rules are thus important to be aware of if you work for the central government of India. Some alterations have been effected (compared to the previous rules) and these are vital to know about if central government employees wish to avail concessions to travel to different parts of India or visit their hometown. Furthermore, there is a new set of rules as regards LTC rules, related to the entitlement of air travel for Level 6 and Level 8 cadre officers of the central government’s pay scheme.
LTC is granted to employees of the central Indian government for travel to many parts of India and for visits to the employee’s hometown. In the purview of the rules, the number of visits to the hometown that are permitted is two. This stipulation is allowed every four years. One of the visits to the hometown may be exchanged for travel to any other location if that is required. Such LTC rules are not applicable to employees of the railways as they get other concessions based on rail travel.
Additional Read: 7th Pay Commission Leave Rules in India
In terms of leave travel concession rules, the air travel concession regulations have undergone several requests for changes and some relaxations in the following may be in the offing:
Additional Read: 7th Central Pay Commission Interest-free Advances
Some new regulations pertaining to the LTC rules were launched by the Ministry of Finance in 2017. In effect, the 7th CPC leave travel concession rules with regard to travel entitlements would be the same as entitlements for TA. The exception to the new regulation would be related to Level 6 and Level 8 employees such that these employees would be entitled to air travel allowance and not LTC. There are certain conditions on which these rules apply:
Additional Read: Investment-Proof Submission Documents for Income Tax
As far as the latest on the 7th Pay Commission LTC rules go, the Union Budget of 2021 has made certain proposals. These are outlined below:
The rules that were proposed have been implemented since.
Additional Read: 7Th Cpc Children Education Allowance
Leave travel concession rules give a boost to central government employees and encourage a healthy work ethic. Such rules go a long way in expanding the employee pool of the central government and encourage employees to be disciplined regarding their leave and absence from the workplace. Moreover, with alterations to rules, employees’ demands and requests have been met, inspiring a sense of employer-employee harmony.
Additional Read: 7th Central Pay Commission Cpc Fitment Table
Additional Read: 7th Pay Commission: House Building Advance Interest Rate
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The benefits of LTC rules bring advantages with regard to IT exemption under the LTC cash voucher scheme.
There have been some changes made regarding the lTC rules in the past few years, mainly through proposals in the 2021 Union Budget.
LTC is granted to employees for the purpose of travel to the employee’s hometown or to any other travel destination.
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