Central government employees availing the LTC cash voucher scheme can purchase goods or services in the name of spouse or other family members eligible for LTC fare. The second set of FAQ issued by the Department of Expenditure also clarified that an employee can claim reimbursement for the purchase of goods and services, attracting GST of 12 per cent or more, on or after October 12 even if he/she has not formally exercised the option of availing the scheme.
The government on October 12 announced the LTC cash voucher scheme under which central government employees can purchase any goods or services with GST rate of 12 per cent or above to avail the benefit.
Only those who stick to the old I-T regime will get this benefit.
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
This year, festive sales are expected to push up the annual gross merchandise value of e-commerce companies to around $38 billion, a 40 per cent growth over the previous year.
The Indian economy requires a Rs 3 lakh crore fiscal stimulus, including cash transfer to households through Jan Dhan accounts to spur economic growth amid the pandemic, industry chamber CII said on Thursday and pitched for appointment of a 'Vaccine Czar' for speedy vaccination coverage. CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22 as the strong growth in the second half of the fiscal year will be supported by robust external demand and large-scale coverage of vaccination, allowing resumption of economic activity. He also advocated for appointment of a "Vaccine Czar" for speedy vaccination coverage.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
ITC was the top gainer in the Sensex pack, spurting over 2 per cent, followed by Infosys, Asian Paints, HCL Tech, Maruti, PowerGrid, ICICI Bank and TCS. On the other hand, Bharti Airtel, ONGC, HDFC Bank, IndusInd Bank and Bajaj Auto were among the laggards. NSE Nifty rose 16.75 points or 0.14 per cent to close at 11,930.95.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances