The Coron period was bad not only for the common man but also for government employees and officials. In fact, every year during summer holidays these government employees and officers go on excursions and the government bears this expenditure through LTC (Leave Travel Concession) Claim.
This time it could not happen due to corona. Overall, the government employees could not get the benefit of LTC last year. However, the latest news is that under the 7th Pay Commission i.e. Seventh Pay Commission, the government has given a new system by changing the rules, in which these crores of employees/officers will now be able to take advantage of LTC.
The Central government has said that the employees who bought a new life insurance policy during the Corona period can claim their installment amount under LTC. This can be done before Holi. In this way, it can be called as government’s gift of Holi to its crores of employees.
Know what is LTC Cash Voucher Scheme?
In view of the Corona era, the Modi government announced the LTC Cash Voucher Scheme. Under this, it was said that income tax rebate can be claimed on shopping done between October 12 to March 31 (on which 12% and more GST has been paid).
Apart from this, every employee can get at least 10 thousand under the LTC Cash Voucher Scheme. However, due to the corona, the employees could not take advantage of it. Now the government has tried to give relief in this way.
Submit documents before 31 March:
Earlier, the Finance Ministry had said that the installment of the existing insurance policy will not be availed here. According to the Department of Expenditure, the premium payment of existing insurance policies will not be made under the LTC Cash Voucher Scheme. Bills or vouchers have to be submitted on or before 31 March 2021 to get benefits under the scheme.