Bank Employees Dearness Allowance from February 2020 - DA 2020

Bank Employees Dearness Allowance from February 2020 - DA 2020 According to the 10th Bipartite Settlement for the period from February, March and April 2020, 75.90 percent of the Dearness Allowance (DA) grants to Bank employees. In this regard the Indian Banks Association (IBA) released a circular and the same is reproduced and provided for your information below : Indian Banks’ Association HR & Industrial Relations No.CIR/HR&IR/ 76/D/2019-20/ 8619 February 1, 2020 All Members of the Association (Designated Officers) Dear...

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MoD – Defence Budget 2020 – 2021 – Defence Pension 2020

MoD – Defence Budget 2020 – 2021 – Defence Pension 2020 The Union budget for the 2020-21 financial year, presented to Parliament on February 01, 2020 by Finance Minister Smt Nirmala Sitharaman, envisaged a total outlay of Rs 30,42,230 crore. Rs 3,37,553 crore (excluding Defence Pension) has been allocated for Defence. A amount of Rs 1,33,825 crore was provided for Defence Pension in Budget Estimates 2020-21. There is an increase in total...

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Budget 2020 – Personal Income Tax and tax simplification

Budget 2020 – Personal Income Tax and tax simplification In order to provide significant relief to individual taxpayers and to simplify the Income-Tax law, the Finance Minister proposed to introduce a new and simpler personal income tax system in which income tax rates will be substantially reduced for individual taxpayers who forgo such deductions and exemptions. The proposed tax-slab adjustments are listed in the table below: Taxable Income...

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