Due to Coronavirus, more than 50 lakh central employees have got a big discount. Government employees who want to take advantage of LTC Cash Voucher Scheme, they still have a chance. They can still submit all the bills of expenditure made in the name of LTC on or before 31st March 2021. Their bills will be cleared. The government has given this concession in view of Covid. Let us know that its last date was May 31, 2021.
The government has issued its order this week. The Finance Ministry has said in the order that there were requests from many departments regarding the LTC special cash package scheme that bills should be passed even after the date of 31 May. Because many employees have not been able to pay the bill due to Covid. According to Under Secretary Sunil Kumar, this exemption has been given to central employees to take advantage of LTC Special Cash Package. In the event of Covid Mahamari, many people were left to pay the bill. They have a chance to take advantage of the scheme.
The government started this scheme last year due to the lockdown in the Corona epidemic. Then it was difficult for central employees to travel on LTC due to travel restrictions. Under this scheme, the employee will get cash payment instead of traveling allowance. Finance Minister Nirmala Sitharaman had told that this scheme will bring more money in the pocket of the government employee. When the money is more, he will spend it too. The benefit of this expenditure will be in eradicating the slowdown of the economy. However, after the second wave of Corona, the scope of the exemption to central employees was increased by the government. Now all ministries and departments will accept the bills even after 31 May 2021.
In Budget 2021, the government had notified the LTC Cash Voucher Scheme. According to tax experts, private employees will also get the benefit of this. However, earlier only central government employees were getting its benefit. With this LTC payment has become tax-free.
LTC gets employees every 4 years. Under this allowance, he can travel anywhere in the country once in a year. The employee gets a chance to visit his home twice with the family. In this traveling allowance, the employee gets the cost of air travel and rail travel. Those employees who could not take advantage of this LTC due to Corona, are being given the benefit of LTC cash voucher scheme.
