Leave Travel Concession for non govt.employee

Last updated: 20 November 2020
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This document explains the income-tax exemption available for non-central government employees regarding Leave Travel Concession (LTC) fare. It details how employees can receive a cash equivalent of their LTC, up to a maximum of £36,000 per person, as a 'Deemed LTC fare'. To qualify, employees must opt for this instead of their regular LTC for the 2018-21 block year and spend three times the deemed fare amount on goods or services with a GST rate of 12% or higher, purchased digitally from GST-registered vendors between October 2020 and March 2021. The document provides examples to illustrate how the exemption amount is calculated based on spending.

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LTC not taken by employee due to covid-19 situation now govt release the press notes to avail the LTC #docx
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Submitted by · Posted 20 November 2020 · Other files by rajat jain · Report
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