Deduction on salary

Deduction on salary
The standard deduction was discontinued in 2006-07. Salaried tax-payers are expecting it to be reintroduced for at least Rs 1 lakh.

Transport allowance:
Raise the transport allowance to Rs 3,000 per month from the existing Rs 1,600

Leave encashment exemption:
The exemption at the time of retirement under Section 10(10AA) of the Income Tax Act must be raised to Rs 10 lakh from the existing Rs 3 lakh

Medical reimbursement:
Raise the medical reimbursement to Rs 50,000 per annum from the existing Rs 15,000

Children’s education and hostel allowances:
The exemption limits must be raised to Rs 3,000 per annum for education allowance and Rs 5,000 per annum for hostel allowance per child

Gratuity:
The workers in the formal sector should be entitled to tax-free Rs 20 lakh gratuity under the Payment of Gratuity (Amendment) Bill, 2017

Leave Travel Allowance:
The limit of two instances in a block of four calendar years should be removed and foreign travel should also be included under Section 10(5) of Income Tax Act

Aadhar Card Now Mandatory For Central Government Scholarship Schemes For School And College Students

NEW DELHI: Human Resource Development (HRD) Ministry has reported that College and University understudies must have an Aadhar card or ought to have experienced Aadhar verification with a specific end goal to profit Central Sector Scholarship Scheme. As indicated by a notice by the service, Students who are now getting these grants and don’t have an Aadhar card must apply for the same by June 30, 2017. The govern is, notwithstanding, not pertinent for understudies in Jammu and Kashmir. The manage goes ahead the heels of comparative direction in which Aadhar card was made required for competitors applying to NEET 2017 exam.

The service additionally issued another notice which said that school understudies who wished to profit National Means-cum-Merit Scholarship Scheme ought to likewise apply for Aadhar by June 30. Understudies in Jammu and Kashmir, Assam, and Meghalaya won’t require Aadhar card however.

As indicated by Press Trust of India, authorities from the service said that the move has been acquainted with permit the service to disperse grant advantages to the recipients in a straightforward and smooth way. Making Aadhar obligatory evacuates the impulse to present various reports. The authority said that until the understudies don’t get Aadhar card, they can apply for grant with their Aadhar Enrolment ID slip, Aadhar enrolment application, Voter personality card, PAN card and so on.

The service has made comparative arrangements for school understudies who are expected to apply for Means-cum-Merit Scholarship Scheme. The service arrangements to actualize these principles in every Indian state with the exception of Jammu and Kashmir promptly from the day of the distribution of the notice.

As of late Railway Recruitment Boards (RRBs) additionally made Aadhar necessary for hopefuls applying to its empty posts.