The revised proposal in the Direct Taxes Code (DTC) to scrap taxes on withdrawals from the New Pension Scheme (NPS) may boost its popularity, but investment advisors will wait for the final norms to consider recommending this product to clients. The main reason for this scepticism is that, going by the current proposals, the product […]
Archives for June 2010
No HRA if employee is illegal occupant: Delhi High Court
The Delhi High Court has held that no house rent allowance (HRA) will be given to an employee if he has occupied the premises illegally. “If the employees in spite of unauthorisedly occupying the accommodation of the employer are also held entitled to HRA, it would tantamount to allowing them to profiteer from the same […]
REVISED DISCUSSION PAPER ON THE DIRECT TAXES CODE JUNE 2010
REVISED DISCUSSION PAPERONTHE DIRECT TAXES CODEJUNE 2010 Central Board of Direct TaxesDepartment of RevenueMinistry of Finance CHAPTER II TAX TREATMENT OF SAVINGS – EXEMPT EXEMPT TAX (EET)VIS-À-VIS EXEMPT EXEMPT EXEMPT (EEE) BASIS 1. Chapter-XII of the Discussion Paper on the Direct Taxes Code (DTC) deals with tax incentives for savings. It proposes the “Exempt-Exempt-Taxation‟ […]
To save on taxes, just save more: Govt’s tax proposal
Save more money, and you could save on taxes. The government has proposed new tax rules aimed at promoting long-terms savings and retirement benefits. These rules need Parliament approval and if that comes through, they will kick in next year. Currently, the government allows an exemption of upto 1 lakh for saving schemes like Provident […]
Master Craftsman- Pay Band PB-2 Grade Pay Rs. 4200-june14th
Government Announces Major Benefits for Artisan Employees In a move that would benefit several employees, the Government has approved the restructuring of Cadre of Artisan Staff in Defence Establishments by partially amending the recommendations of 6th Central Pay Commission. The grade structure in the industrial as well as in the non-industrial trades, wherever already available […]