An employee’s own contribution is eligible for a tax deduction –up to 10 per cent of the salary (basic plus DA) – under Section 80CCD(1) of the Income Tax Act within the overall ceiling of Rs 1.5 lakh allowed under Section 80C and Section 80CCE. The employer’s contribution to NPS is exempted under Section 80CCD (2). Moreover, individuals
Read MoreBank accounts were being seeded with Aadhaar indirectly, those opposed to the scheme contended in the Supreme Court on Wednesday. Senior advocate Shyam Divan, lead counsel for a host of activists opposing the mandatory nature of the scheme, accused the Unique Identification Authority of India (UIDAI) of ‘resorting to inorganic
Read MoreThe union government is ready to promulgate the Scheduled Caste and Scheduled Tribe (Prevention of Atrocities) ordinance within a week to reverse the changes ordered by the Supreme Court in March. The government would follow it up with a Constitution amendment bill in the monsoon session of Parliament which would include the legislation in the
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Read MoreA cash crunch has been reported in ATM in several states of India, including Karnataka, Maharashtra, Andhra Pradesh, Rajasthan, Uttar Pradesh, Madhya Pradesh and Telangana. People in Delhi have also been tweeting about non availability of cash at ATMs. In south Delhi’s RK Puram and Khanpur many ATMs have run dry say residents. In Hyderabad
Read MoreGovernment employees can go abroad while on a child care leave (CCL), according to new guidelines of the Personnel Ministry. They can also avail Leave Travel Concession (LTC) — which allow leave and reimbursement of two and fro expenses– during the child care leave period, it said. This clarification from the Personnel Ministry follows after
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