rediffGURU T S Khurana answers readers' personal income tax queries
The Ahmedabad airport cancelled flights post the crash before resuming limited flights in the evening.
'With new technology and stricter checks, cheating on taxes is just not worth it anymore.'
As the planer reached a height of 625 feet, the aircraft started going down. It was at this time that the pilot, Captain Sumeet Sabharwal with co-pilot First Officer Clive Kundar issued the Mayday call.
Soon after the takeoff, the pilot of ill-fated Air India aircraft gave a Mayday call to the Ahmedabad air traffic controller.
The Israel Defence Forces (IDF) on Saturday issued a new graphic showing Kashmir as Indian territory, rectifying their previous mistake.
The Air India plane AI-171 from Ahmedabad to London crashed immediately after take-off from the Sardar Vallabhbhai Patel Ahmedabad airport on Thursday, as per the Gujarat State Police Control Room.
Only those who stick to the old I-T regime will get this benefit.
Central government employees availing the LTC cash voucher scheme can purchase goods or services in the name of spouse or other family members eligible for LTC fare. The second set of FAQ issued by the Department of Expenditure also clarified that an employee can claim reimbursement for the purchase of goods and services, attracting GST of 12 per cent or more, on or after October 12 even if he/she has not formally exercised the option of availing the scheme.
The government on October 12 announced the LTC cash voucher scheme under which central government employees can purchase any goods or services with GST rate of 12 per cent or above to avail the benefit.
The government on Monday announced a one-time Rs 10,000 interest-free festival advance to all its officers and employees as part of plans to increase consumer spending to spur demand in the economy.
This dynamic fare component shall not be admissible in cases where a non-entitled government servant travels by air and claims reimbursement for the entitled class of Rajdhani, Shatabdi and Duronto trains
The Budget is likely to expand the scope of LTA and LTC.
Israel on Saturday released footage showing Hamas leader Yahya Sinwar moving his belongings to a tunnel in Gaza hours before the October 7 attack last year that triggered the ongoing war.
The move comes after the government received a number of queries in this regard.
The Centre will now reimburse full train fare incurred by its employees on purchase of tickets for their children aged between five and 12 years.
Salaried taxpayers may have less kitty for holidays from April 2012, with the government proposing to scrap tax incentives on leave travel allowance in the new direct tax regime DTC.
The Central Bureau of Investigation has registered cases against six sitting and former members of Rajya Sabha in connection with the LTC scam in which travel reimbursement was allegedly claimed by them through purportedly forged bills.
In what could be seen as another subsidy to the cash-strapped national carrier, the Air India website has opened a special section for LTC tickets to government servants.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
The Central Bureau of Invesigation on Monday approached the Rajya Sabha secretariat seeking documents related to fake travel bills allegedly submitted by a Janata Dal-United MP against whom a case has been registered for making such claims.
According to an Election Commission statement, the two have decided not to avail exemption from income tax on sumptuary allowance and to surrender two of the three Leave Travel Concessions (LTC) available each year.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
This year, festive sales are expected to push up the annual gross merchandise value of e-commerce companies to around $38 billion, a 40 per cent growth over the previous year.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The government on Wednesday asked ministries and departments to clear dues of debt-laden Air India immediately and henceforth purchase tickets only in cash. The government earlier this month decided to sell Air India to Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate Tata group, for Rs 18,000 crore. The Department of Expenditure, under the Finance Ministry, in a 2009 order, had said that in cases of air travel (both domestic and international), including LTC where the Government of India bears the cost of air passage, the officials may travel only by Air India.
All interest free advances stand discontinued with the exception of interest free advance for medical treatment, travelling allowance for family of deceased, travelling allowance on tour or transfer and leave travel concession
The Central Bureau of Investigation has registered a case against Janata Dal-United Rajya Sabha MP Anil Kumar Sahani for alleged filing of fraudulent Leave Travel Concession claims using forged air tickets and boarding passes and carried out searches on Friday at Rajya Sabha Secretariat and other locations.
Armed with some documents pointing to large-scale irregularities, the Central Bureau of Investigation will soon register cases to probe the alleged involvement of some Rajya Sabha MPs and central government employees in forging leave travel concession claims for travel on state-run Air India.
The Indian economy requires a Rs 3 lakh crore fiscal stimulus, including cash transfer to households through Jan Dhan accounts to spur economic growth amid the pandemic, industry chamber CII said on Thursday and pitched for appointment of a 'Vaccine Czar' for speedy vaccination coverage. CII president T V Narendran also said the chamber expects GDP to grow at 9.5 per cent in 2021-22 as the strong growth in the second half of the fiscal year will be supported by robust external demand and large-scale coverage of vaccination, allowing resumption of economic activity. He also advocated for appointment of a "Vaccine Czar" for speedy vaccination coverage.
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
ITC was the top gainer in the Sensex pack, spurting over 2 per cent, followed by Infosys, Asian Paints, HCL Tech, Maruti, PowerGrid, ICICI Bank and TCS. On the other hand, Bharti Airtel, ONGC, HDFC Bank, IndusInd Bank and Bajaj Auto were among the laggards. NSE Nifty rose 16.75 points or 0.14 per cent to close at 11,930.95.
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
The CAG said the strategic missile system, which were to be deployed on the China border, procured from the state-run Bharat Electronics Ltd were deficient in quality.
Finance Minister Nirmala Sitharaman on Monday said the government has begun an exercise to assess the impact of the pandemic on the economy and likely contraction in GDP, even as she did not rule out the possibility of another stimulus to boost growth.
The train will leave from Mumbai Central at 2250 hours and will reach Delhi at 1800 hours, the next day.
The tax rules for leave encashment are treated differently.
Here are 10 important quotes from the PM's televised address:
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
'I know margins are under pressure, but have banks begin to stoop so low to enhance their floats or slip in strange charges?' asks Keya Sarkar.
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