New Income Tax Rates And Deductions Applicable From April 1, 2017

New Income Tax Rates And Deductions Applicable From April 1, 2017 With some tinkering in the income tax rates for 2017-18, Finance Minister Arun Jaitley reduced the tax rate for income between Rs. 2.5 lakh and Rs. 5 lakh to 5 per cent in the Union Budget, while adding a surcharge of 10 per cent on tax for income between Rs. 50 lakh and Rs. 1 crore. Although the basic income tax exemption limit remains the same at Rs. 2.5 lakh, there are many exemptions available in the Income Tax Act, which can substantially reduce your tax liability. One...

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INCOME TAX FAQ : What are allowances? Are all allowances taxable?

INCOME TAX FAQ : What are allowances? Are all allowances taxable? ​What is considered as salary income? ​​​ section 17​​ of the Income-tax Act defines the term 'salary'. However, not going into the technical definition, generally whatever is received by an employee from an employer in cash, kind or as a facility [perquisite] is considered as salary. ​ What are allowances? Are all allowances taxable? Allowances are fixed periodic amounts, apart from salary, which are paid by an employer for the purpose of meeting some particular requirements...

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Central government jobs about 2.83 lakh estimated by 2018

Central government jobs about 2.83 lakh estimated by 2018 As per the budget documents, the workforce of the central government establishments would be 35.67 lakh in 2018 New Delhi: Nearly 2.83 lakh central government jobs are estimated to be generated by next year. This projection has been made in the Union Budget for 2017-18 presented last week by finance minister Arun Jaitley. As per the budget documents, the workforce of the central government establishments would be 35.67 lakh in 2018, about 2.83 lakh more than the actual head count...

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Enhancement of Maternity Leave - Lok Sabha Q&A

Enhancement of Maternity Leave - Lok Sabha Q&A GOVERNMENT OF INDIA MINISTRY OF LABOUR AND EMPLOYMENT LOK SABHA UNSTARRED QUESTION NO: 672 ANSWERED ON: 06.02.2017 Maternity Leave SHASHI THAROOR Will the Minister of LABOUR AND EMPLOYMENT be pleased to state:- (a)whether the Government proposes to extend the time span of the compulsory paid maternity leave from 12 weeks to 26 weeks in private organizations; (b)if so, the details thereof; (c)whether the Government also proposes to amend section 4 of the Maternity Benefits Act, 1961,...

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