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Sunday, February 26, 2012

Educational allowance and hostel subsidy : Minimum age bar removed


Government has removed the minimum age bar for claiming educational allowance and hostel subsidy for their children. Earlier to avail the benefits the children have to be five year of above. The development fee paid to the school can also be reimbursed against tuition charges paid by them to schools."The Finance Ministry has given its nod and a circular in this regard has been issued to all d....
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Tuesday, February 7, 2012

Minor hike tax in exemption limit on cards. Likely to be Rs 2 lakh

The government is likely to provide slight relief to individual income tax payers in the coming budget. The tax exemption limit is likely to be raised to Rs 2 lakh from the existing 1.8 lakh. The slabs for different tax brackets are also to be increased. There may not be different limit for the women. The changes are in accordance with the proposed Direct Taxes Code (DTC). The DTC Bill, currently ....
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Wednesday, February 1, 2012

Dearness Allowance at 65% from January 2012. DA hike of 7%

The Consumer Price Index Numbers for Industrial Workers on Base 2001=100, AICPIN, for the Month of December 2011 has been published by the labour ministry…. and stood at 197. The decrease in the prices of Onion, Vegetable & Fruit items, Primary and Middle School Fee and Books, etc. contributed to the decrease in the index value.
The average index over the last 12 months calculates at 191.5 which effectively can be converted to dearness allowance of 65… Read More