For Central Government Employees nothing announced about the demand of Rs 18000 minimum wage “The working class is also betrayed contrary to the claims being made by the prime minister and the finance minister in regard to providing dignity to the workers. Nothing announced about the demand of Rs 18000 minimum wage to workers about 45 crore of them who were hoping against hope.” AITUC DEPLORES THE BJP LED NDA GOVT. FOR MAKING CRUEL JOKE ON THE SUFFERING PEOPLE Press Release The BJP led NDA government has once again attempted to throw jumlas on the face of suffering people of India through its vote on accounts (interim budget). The announcements made are with forthcoming elections in mind, just throwing statistics without any basis. On one hand side it is a cruel joke on the marginal farmers who hold land up to 2 hectares which number about 86 % of total farmers in the country offering rupees 17 per family per day. The rural landless poor who work in the fields and related ag...

BUDGET SUMMARY WITH MAJOR HIGHLIGHTS OF THE INTERIM BUDGET 2019-20 INTERIM BUDGET 2019-20 PRESENTED IN PARLIAMENT TODAY HAS A MAJOR SCHEME FOR FARMERS AND PROVIDES FOR INCOME TAX SOPS THIS INTERIM BUDGET IS TO BE VIEWED AS A MEDIUM FOR A PROGRESSIVE PATH FOR THE COUNTRY, THE FINANCE MINISTER SAYS SHRI PIYUSH GOYAL SAYS GOVERNMENT HAS BROUGHT DOWN AVERAGE INFLATION TO 4.6%, LOWER THAN THE INFLATION DURING THE TENURE OF ANY OTHER PREVIOUS GOVERNMENT. 01 FEB 2019 Interim Budget 2019-20 was presented in Parliament today by the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal. Besides having a major Scheme for the farmers, it provides tax sops and sets the Developmental Agenda for the years to come. A New Deal for 12 Crore Small and Marginal farmers with direct income support, a path breaking Pension initiative for 10 Crore unorganized sector workers, exempting income up to Rs 5 lakhs from Income Tax, reforms in stamp duty, highest ever budgetary allocat...

HIGHLIGHTS OF BUDGET 2019 Tax 1. Within 2 years, Tax assessment will be done electronically 2. IT returns processing in just 24 hours 3. Minimum 14% revenue of GST to states by Central Govt. 4. Custom duty has abolished from 36 Capital Goods 5. Recommendations to GST council for reducing GST rates for home buyers 6.  Full Tax rebate upto 5 lakh annual income after all deductions. 7. Standard deduction has increase from 40000 to 50000 8. Exempt on tax on second self-occupied house 9. Ceiling Limit of TDS u/s 194A has increased from 10000 to 40000 10. Ceiling Limit of TDS u/s 194I has increased from 180000 to 240000 11. Capital tax Benefit u/s 54 has increased from investment in one residential house to two residential houses. 12. Benefit u/s 80IB has increased to one more year i.e. 2020 13. Benefit has given to unsold inventory has increased to one year to two years. Other Areas 14. State share has increased to 42% 15. PCA restriction has abolished fro...

Budget 2019 : Income Tax exemption limit raised to Rs. 5 lakh Finance Minister Piyush goyal has proposed that individuals with income upto Rs 5 lakh will not have to pay any income tax for FY2019-20. In the previous budgets also, the Narendra Modi led-government provided tax relief to taxpayers. In Budget 2014, the minimum tax-exemption limit was raised from Rs 2 lakh to Rs 2.5 lakh. Along with that deduction, limit under section 80C was hiked by Rs 50,000 to Rs 1.5 lakh and deduction on interest paid on a housing loan to Rs 2 lakh. Currently, income up to Rs 2.5 lakh for resident individuals (age below 60 years) is exempt from tax. Similarly, for senior citizens aged 60 years and above but below 80 years, income up to Rs 3 lakh is exempt from tax. Income up to Rs 5 lakh is exempt from tax for super senior citizens (age 80 years and above). In Budget 2017, Jaitley slashed the tax rate for income between Rs 250,001 and Rs 5 lakh to 5 per cent from 10 per cent earlier. This...

7th Pay Commission Budget 2019 expectations BUDGET 2019 Tomorrow (February 1, 2019) Finance Minister Piyush Goyal present Narendra Modi government’s sixth and final Budget. Weeks before General Elections, it is an interim budget. Yet, expectations are rife about big bang announcements in the wake of upcoming elections. Budget 2019   – Central Government employees have been demanding for long salary hike beyond the recommendations of the 7th Pay Commission. The budget is expected to address the fitment factor and minimum pay hike demand. The central government employees have been demanding a hike in the minimum pay scale to Rs 26,000 from the current Rs 18000 along with a fitment factor of 3.68 times from the present 2.57 times.