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GRANT OF Rs.4200 GRADE PAY FOR “MASTER CRAFTSMEN” IN ORDNANCE DEPARTMENTS – ORDERS LIKELY TO BE ISSUED TOMORROW.

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GRANT OF Rs.4200 GRADE PAY FOR “MASTER CRAFTSMEN” IN ORDNANCE DEPARTMENTS – ORDERS LIKELY TO BE ISSUED TOMORROW.
ORDERS WILL BE EXPECTED AFTER APPROVAL BY CABINET MINISTRY.
ENTIRE COPY OF ORDERS WILL BE PUBLISHED IN OUR WEBSITES IMMEDIATELY ON ISSUE OF THE ORDERS.
ATPRESENT, MCM (MASTER CRAFTSMEN) EMPLOYEES ARE GETTING Rs2800 GRADE PAY IN ORDNANCE DEPARTMENTS. NOW MCM ISSUE GOES TO APPROVAL OF CABINET MINISTRY. IT WILL BE CERTAINLY A GREAT OPPORTUNITY FOR MCM EMPLOYEES.
In Railways Master Craftsmen are getting the Grade Pay of Rs.4200 and promotion ratio is 8% only.
See the O.M.
Defence Master Craftsmen are getting the Grade Pay of Rs.2800 and promotion ratio is 14%. See the O.M.

Income Tax for Leave Travel Concession Amount and Encashment Leave Amount

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Income Tax for Leave Travel Concession Amount
The LTC that you get is fully exempt from Income Tax, provided it satisfies certain conditions. Here are the conditions.
The amount is actually spent on travel:
You have to actually spend this amount on transportation. The spending cab be for you and your family members, but you have to be one of the travelers.
Here, family means spouse and children (including adopted children and stepchildren). Parents, brothers and sisters are also included if they are dependent on you.
It has to be for transportation:
The amount has to be spent on transportation either Air, Rail or Road.
Any amount spent for lodging and boarding is not considered. Thus, food related expenses and hotel expenses are not exempt from income tax.
Also, this exemption is for primary travel between your city of stay and your destination. Other travel expenses like taxi / cab fare, auto fare, etc, can not be claimed as exempt. The travel has to be within India, foreign travel is not considered.
Carry forward of LTC benefits:
What if you can not claim LTC exemption for some reason? No need to worry. The exemption doesn’t lapse, ti can be carried forward to the next block of four years.
The only condition in this case is that the exemption has to be availed in the very first year of this subsequent block.
Thus, in this next block, you can claim a total of three exemptions.
Leave encashment – is it taxable?
The amount received from any leave enchased while you are still in service is added to your income, and is fully taxable. It is taxed as per the income tax slab applicable to you.

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