How do I claim LTC advance?
Government servant may apply for advance for himself and/or his family members sixty five days before the proposed date of the outward journey and he/she is required to produce the tickets within ten days of the drawal of advance, irrespective of the date of commencement of the journey.
How can I prepare my LTC Bill?
- How to prepare Leave Travel Concession(LTC) Bill.
- First we have to select below attributes.
- Bill type: Gazetted/ Non-Gazetted Establishment Pay Bill – CTS 1.
- LTC Bill.
- ROLE: CASEWORKER (Maker)
- PATH: Bill Preparation and Submission → Process →Create Bill.
How do I write LTC application?
I intend to avail of Leave Travel Concession for self and the members of my family for visiting Home-town / LTC. I hereby declared that I shall avail the Leave Travel Concession in respect of the following members of my family who are residing with me wholly dependent upon me.
What is the maximum amount of LTC advance granted to the Government servants?
(i) Advance may be granted to Government servants to enable them to avail themselves of the concession. The amount of such advance in each case shall be limited to four-fifths of the estimated amount, which Government would have to reimburse in respect of the cost of the journey both ways.
When can LTC advance be drawn?
LTC advance can be drawn 60 days before the proposed date of outward journey: – Under Central Government Rules, a Government servant can draw advance in respect of the journey proposed to be performed under the Leave Travel Concession scheme by himself and/or by members of his family 60 days before the proposed date of …
Who is sanctioning authority for LTC advance?
servant. (i) Advance on account of LTC may be sanctioned by the Head of the Office instead of by the Controlling Officer.
What is LTC advance?
Can I take 2 LTC a year?
Two LTC in a calendar year is permissible. If the Hometown LTC of the period 2018-19 is availed in grace period in 2020, in the same year, Any Place in India LTC or Hometown LTC of the two year block of 2020-21 can be availed.
How can I write application for LTC permission in English?
I am (your name) working in the department (name of your department) as a (your designation). I request you to give me permission to avail LTC (Anywhere in India) for going (name of the place), for the block year ( mention block year) for five days from ( date of leaves).
Can I claim 2 LTC in one year?
Usually LTC can be availed twice in a block of a four calendar years. Current block of years will be as below. 2014-2017 (From 1st January 2014 to 31st December 2017). As said above you can claim only twice in a block of 4 years period.
What is penal interest on LTC advance?
The penal rate of interest should not be less than 2.50% above the normal rate of interest at which a loan is sanctioned.
What is the age limit for LTC for son?
25 years
existing numbers of children. However, the restriction of age i.e. 25 years shall apply to the existing children.
What is LTC claim?
In October 2020, due to the covid-19 pandemic, the government announced an LTC cash voucher scheme that allowed salaried taxpayers eligible for LTC/LTA to claim the allowance tax exempt without travelling by purchasing goods and services as per the scheme’s conditions.
Can I claim LTA for car travel?
To avail of the LTA exemption, the mode of travel you choose must be a train, economy airline or bus. The amount spent on hotel accommodation, shopping or food is not included in the exemption. Moreover, you cannot claim LTA exemption if it has been used to travel via private car or hired cabs.
How do you calculate penal interest?
For Loans above Rs. 25000/- , if the irregularity exceeds EMI or Installment amount, for a period of one month ,then penal interest would be charged @2% p.a.(over and above the applicable interest rate) on the overdue amount for the period of default.
Is LTC advance taxable?
The exemption is also limited to LTA provided by the employer. For example, if LTA granted by employer is Rs 30,000 and actual eligible travel cost incurred by employee is Rs 20,000, exemption is available only to the extent of Rs 20,000 and balance Rs 10,000 would be included in taxable salary income.