Monday, April 21, 2014

BJP wants I.T exemption limit hike to 5 Lac

BJP leader Arun Jaitley today demanded a raise in the Income Tax ceiling from Rs two lakh to Rs five lakh, which he claimed will benefit thirty million people.

Advocating low tax structure, the BJP leader said,”Direct Tax should be reduced. If the Income Tax limit is raised from Rs 2 lakhs to Rs 5  lakhs, 3 crore people will save Rs 24 crore which will lead to a small impact of 1 to 1.5 per cent of National Tax Fund.”

Source : PTI

Sunday, April 20, 2014

Likely pay scale of seventh CPC

 If next pay commission prefer to continue the same running pay band and grade pay system for seventh pay commission also, the pay structure may be like the following projected figures given below, using common multiplying factor ‘3’. The Following is only the projected figure using common multiplying factor ‘3’
7th Pay Commission Projected Pay Scale
SIXTH CPC PAY STRUCTURE
PROJECTED  PAY STRUCTURE  AFTER  7th PAY COMMISSION
Name of Pay Band/ Scale
Corresponding Pay Bands
Corresponding Grade Pay
Entry Grade +band pay
Projected entry level pay using uniform multiplying factor` 3’
Band Pay
Grade Pay
Entry Pay
PB-1
5200-20200
1800
7000
15600-60600
5400
21000
PB-1
5200-20200
1900
7730
15600-60600
5700
23190
PB-1
5200-20200
2000
8460
15600-60600
6000
25380
PB-1
5200-20200
2400
9910
15600-60600
7200
29730
PB-1
5200-20200
2800
11360
15600-60600
8400
34080
PB-2
9300-34800
4200
13500
29900-104400
12600
40500
PB-2
9300-34800
4600
17140
29900-104400
13800
51420
PB-2
9300-34800
4800
18150
29900-104400
14400
54450
PB-3
15600-39100
5400
21000
29900-104400
16200
63000
PB-3
15600-39100
6600
25530
46800-117300
19800
76590
PB-3
15600-39100
7600
29500
46800-117300
22800
88500
PB-4
37400-67000
8700
46100
112200-20100
26100
138300
PB-4
37400-67000
8900
49100
112200-20100
26700
147300
PB-4
37400-67000
10000
53000
112200-20100
30000
159000
HAG
67000- (ann increment @ 3%) -79000
Nil



201000
HAG+ Scale
75500- (ann increment @ 3%) -80000
Nil



226500
Apex Scale
80000 (Fixed)
Nil



240000
Cab. Sec.
90000 (Fixed)
Nil



270000
 This projection is available in http://www.irtsa.net/

Monday, April 14, 2014

Karnataka enhanced 6% D.A.

Karnataka Govt. enhanced Dearness Allowance from existing 15% to 21% with effect from 1st January 2014 to state employees and pensioners. The increase in Dearness Allowance admissible under this order is payable in cash.
View the Govt. Order

Sunday, April 13, 2014

Central D.A. from 1st July 2014 will not be very attractive

Though it is too early to calculate D.A. w.e.f. 01.07.2014 as three months' (Apr to Jun'14) figures are yet to be published, but based on the current trend of AICPIN index it can certainly be predicted that D.A. may not bring same cheer to central employees and pensioners in the near future.
If we assume a two points increase in every month for the next three, another 7% D.A. will be there. Of course, it is a very optimistic guess.
If we assume a moderate one point increase in every month for the next three, 6% increase is possible.
And for the pessimistic guess of no increase in the AICPIN data for the coming three months, only 5% increase will be there.
Let's not go into the calculation of any decrease in the coming months !
So it is predicted a 5 to 7% increase in D.A. with effect from 01.07.2014.

Friday, April 11, 2014

Bank D.A. likely to decrease from May 2014

PROJECTED D.A. FROM MAY, 2014
The AICPI-IW (1960=100) for January, 2014 was 237 and for February, 2014, the index stood at 238.
As per the present trend in retail inflation, the index may remain unchanged at 238 for March, 2014 too. If it happens, the D.A. will fall to 97.05%, from the existing level of 99.90%.

Even if the index records a modest rise of 1 point and touches 239 for March, 2014, yet there will be a downfall and the revised D.A. will be only 97.35%. 
The exact amount of D.A. for May'14  to July'14 will be known only 30.04.2014, when labour bureau will publish the AICPI-IW data for March 2014. 

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