The government has raised the customs duty on precious metal platinum to 15.4 per cent from 10.75 per cent in a bid to curb its import. A new list of holidays during the year 2022 for Central Government Offices and Employees in PDF format. The applicants of Sukanya Samriddhi Yojana can use the SSY calculator to evaluate the maturity amount at the end of the scheme tenure. 25,000 annually. Bhagyashree Scheme is a Karnataka government scheme designed to promote the birth of girl child among families below the poverty line. Today Union Cabinet Approves 3% Additional DA to CG Employees and Pensioners Effective from 1.1.2022 Total DA from January 2022 = 3% + 31% = 34% Cabinet approves release of an additional instalment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners, due from 01.01.2022 The Union Cabinet chaired by the Prime Minister, Shri Narendra The government has accorded infrastructure status to data centers with more than 5 megawatt capacity of IT load, according to a recent notification. An employee and his/her employer both contribute towards PF. Govt extends last date for filing ITR till December 31 I-T refunds top Rs 51,000 crore, but lower than last year Excess interest, late fee paid while filing ITR to be refunded, says I-T department Check India business news and latest updates on business, finance and economy from across the world. Check 7th Pay Commission Pay scale calculator, revised basic pay, DA Merger 7th CPC Benefits & Latest News. The government has raised the customs duty on precious metal platinum to 15.4 per cent from 10.75 per cent in a bid to curb its import. To calculate gratuity for employees under this category, the formula is: Gratuity (G) = n*b*15/26 No. The Employees Deposit Linked Insurance Scheme(EDLI) is an insurance cover provided by the Employees Provident Fund Organization (EPFO). The financial assistance to the girl child is provided some key criteria have been met. 7 Lakhs in 18000 and minimum basic pension Rs, 3500 to Rs. Advantages of Direct Taxes. However, Government employees can claim exemption in the manner provided in section 16 (ii). Advisory: Information relates to the law prevailing in the year of publication/ as indicated .Viewers are advised to ascertain the correct position/prevailing law before relying upon any document. The girl child receives health insurance cover up to a maximum of Rs. Big announcement for Central Govt. Death-cum retirement gratuity from government, payment made under Gratuity Act, 1972 the amount must be as per section(2), (3) and (4) of that Act and up to one and half month's salary for each completed year of service. Karnataka Road Tax; Disclaimer. Deductions in Central Govt Employees in hand Salary Calculator. Govt brings clarity in policy for FDI in real estate business Nearly 70% women want to buy real estate; prefer ready homes for end-use: Survey Rags to riches: Slumdog becomes a multi-millionaire Through govt website The government of India offers an online tool that helps in calculating the investment amount. Provident Fund Calculator: The Employees Provident Fund calculator will help you to estimate the EPF amount you will accumulate at the time of retirement. Gratuity Calculator: Car Eligibility in CSD: Matrix Table for GDS: Finmin Orders 2020: Pay Calculator for Gujarat Govt Employees. Benefits of using SSY Calculator. All other employees have to pay tax on it. 10(10A) rd. 2023 Holidays List for Tamilnadu Govt Employees 14 Oct,22 9:52p.m. Net salary, more commonly known as Take-Home Salary, is the income that the employee actually takes home once tax and other such deductions are carried over with.It refers to the in-hand figure that is calculated after deducting Income Tax at source and other deductions as per the relevant company policy.Net Salary is Income Tax deductions, Public All the mandatory deductions and other deductions if any are to be entered in this Deductions in Central Govt Employees in hand Salary Calculator to know the exact take home pay. EPF is an ideal retirement fund in which both the employer and the employee contribute an amount equal to 12% each of the employees salary (basic and dearness The ministry highlighted that all-India domestic wholesale prices of rice and wheat decreased by 0.08 per cent and 0.43 per cent respectively over the week. The Indian government levies GST on both the manufacturing and the services of gold. An employee can receive a gratuity amount higher than Rs.10 lakh from his/her employer, the exemption for tax in this case will be calculated as per the points listed above under taxation. The main advantages of Direct Taxes in India are mentioned below: Economic and Social balance: The Government of India has launched well-balanced tax slabs depending on an individual's earnings and age. Directorate of Enforcement (ED) has carried out search operations under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 on 19.10.2022 at 05 premises in Bengaluru, in respect to an investigation relating to the Chinese Loan App Case.The case is based on 18 FIRs registered by Cyber Crime Police Station, Bengaluru City against numerous The calculator helps to compute how much savings can be accrued with the scheme. This additional 4% interest on DA will come into effect from July 1, 2022. Fringe benefits tax: The tax is levied on employees rather than employers. Form 16 - Learn What is Form 16, Types, Different Parts, Eligibility and Benefits. The Indian government levies GST on both the manufacturing and the services of gold. Overtime Allowance: Employers may provide an overtime allowance to employees working over and above the regular work hours. Also, referred to as a salary certificate, it contains the entire details regarding the salary given by the organization or employer to the employee in a particular financial year and the income tax that has been This is called overtime and any allowance received for this is fully taxable. Few Significant Points About Gratuity. Enables the applicants to evaluate the amount which gets credited after maturity Know difference between Form 16, Form 16A, and Form 16B. As per the order, full gratuity and provident fund have to be paid to all workmen and employees who have resigned or retired. Net Salary or Take-Home Salary. Only two deductions are mandatory for CG Staffs those who are appointed on or after 1.1.2004. Karnataka Bhagyashree Scheme. Use Gratuity Calculator and get the gratuity amount receivable from your employer, find how to calculate using gratuity calculation formula. OM: 38% Dearness Allowance from July 1, 2022. A nominee or legal heir of an active member of EPFO gets a lump sum payment of up to Rs. Known to be one of the most useful savings schemes for employees, the Employee Provident Fund is a type of savings account introduced by the Ministry of Labour for the welfare of employees.. EPF Account. Tax Exemption offered to the employee when he/she is travelling. Form 16 is a document or certificate, issued as per the Section 203 Income-Tax Act 1961, to salaried professionals in India by their respective employers. 9000 to existing employees and retired employees respectively! The minimum basic salary will be revised from Rs. Following are some of the most prominent points about payment of gratuity by an employer to an employee. The 7th pay commission is recommending a new Pay Matrix Table for Civilian employees to revise the basic salary in the easiest way! Employees are also allowed to make voluntary contributions towards the Provident Fund Account. The 7th Pay Commission has confirmed that the Dearness Allowance (DA) will be hiked by 4% for central government employees. Check ✓ Taxability of LTA ✓ LTA Exemption ✓ Rules ✓ Calculation. The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The government will approach the capital market this month to raise around Rs 2,500 crore to fund three road projects, a senior official said on Monday. Employees in regard to Pension Rules: 7th Pay Commission . While the contribution made by the employer is exempt from tax, the contribution made by the employee is eligible for deductions under Section 80C of the Income Tax Act. All about Leave Travel Allowance or LTA in India. Disclaimer:The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. 10(10AA) 7000 to Rs. Counting of previous state service for pension & gratuity from Central Govt 03 Oct,22 7:16p.m.
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