80 years and above, eligible for a higher income tax exemption limit of Rs. 5,00,000

Exemption Limit for Individual Tax Payers Raised to Rs.1,80,000

Qualifying age for Senior Citizens Lowered to 60 Years

Senior Citizens above 80 Years to Get Exemption upto Rs. 5,00,000

The exemption limit for the general category of individual tax payers has been enhanced to Rs. 1,80,000 from Rs. 1,60,000 in the General Budget 2011-12, presented by the Union Finance Minister, Shri Pranab Mukherjee in the Lok Sabha today. The measure will provide a uniform tax relief of Rs. 2,000 to every tax payer of this category, besides moving closer to Direct Tax Code (DTC) rates.

Qualifying age for Senior Citizens has been reduced from 65 years to 60 years and exemption limit for Senior Citizens has been enhanced from Rs. 2,40,000 to Rs. 2,50,000. A new category of Very Senior Citizens, 80 years and above, has been created who will be eligible for a higher exemption limit of Rs. 5,00,000.

Exit Norms of the Pension Scheme “Swavalamban” Will be Relaxed

The exit norms of the co-contributory pension scheme “Swavalamban” have been relaxed. Announcing this in his Budget speech in the Lok Sabha today, the Union Finance Minister, Shri Pranab Mukherjee said that a subscriber under Swavalamban Scheme will now be allowed to exit at the age of 50 years instead of 60 years, or a minimum tenure of 20 years, whichever is later.

The Finance Minister also proposed to extend the benefit of Government contribution from three to five years for all subscribers of Swavalamban who enroll during this year and in the year 2011-12. An estimated 20 lakh beneficiaries will join the scheme by March 2012, the Minister informed.

Shri Mukherjee said that this scheme has been welcomed by the workers in the unorganized sector. Over four lakh applications have already been received and the relaxation in exit norms is being made on the basis of the feedback received during the year.

 

Eligibility for Pension Under Indira Gandhi National Old Age Pension Scheme to be Reduced to 60 Years

Hike in Pension for Those Who are 80 Years Old

Under the on-going Indira Gandhi National Old Age Pension Scheme for Below Poverty Line (BPL) beneficiaries, the eligibility for pension will now be reduced to 60 years from 65 years at present.

This was announced by the the Union Finance Minister Shri Pranab Mukherjee while presenting the Union Budget 2011-12 in the Lok Sabha today.

He also announced that the pension amount is being raised from Rs. 200 at present to Rs. 500 per month for those who are 80 years and above.

Source: PIB

Clarification on regular TA/DA on Permanent Transfer

Office fo The Controller General of Defence Accounts
Ulan Batar Road, Palam, Delhi Cantt - 110010 CIRCULAR

No.AT/IV/4462/PC-XX

Dated 01st Feb' 11

All PCsDA/CsDA
PC of A (Fys) Kolkata
Sub:- Clarification on regular TA/DA on Permanent Transfer 

Consequent upon implementation of VI CPC all the travel entitlements of the service personnel are being admitted as per the GOI No. 12630/MoV C/3737/D (MoV)/08 dated:-29th Dec’2008. 

The doubt raised by service pers/service HQrs has been clarified as under:

Sl.No	Point raised	Clarification
1	If service personnel were transferred and joined the duty station prior to the implementation of VIth CPC (i.e before 01.09.2008) but their personal effects were transported after 01.09.2008, whether the luggage claim would be admitted as per the revised rates of VIth CPC?	The revised traveling allowances entitlements shall also be applicable in the case of those service personnel who had been transferred before1/9/2008 but had relocated their family/transported their luggage after 1/09/2008  (ie.  The date of implementation of order on TA entitlements by the Govt. consequent upon implementation of the VIth CPC)

All the sub offices under your command may be instructed to strictly adhere to these instructions.

This issues with the approval of Jt. CGDA (AT).

Please acknowledge receipt.

(SANJAY VARMA) 
Sr. Dy.CGDA (AT-III)

Source: www.cgda.nic.in 

All india Consumer Price index Numbers for industrial workers on base 2001=100 for the month of January, 2011

All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of January, 2011 increased by 3 points and stood at 188 (one hundred and eighty eight). 

During January, 2011, the index recorded an increase of 11 points each in Bhopal and Jamshedpur centres, 10 points each in Amritsar, Bangalore and Chandigarh centres, 8 points in Haldia centre, 7 points each in Nasik, Kodarma and Ghaziabad centres, 6 points in 2 centres, 5 points in 4 centres, 4 points in 12 centres, 3 points in 15 centres, 2 points in 8 centres and 1 point in 7 centres. The index decreased by 4 points in Godavarikhani centre, 1 point in 9 centres, while in the remaining 11 centres the index remained stationary. 

The maximum increase of 11 points each in Bhopal and Jamshedpur centres is mainly on account of Housing Index and increase in the prices of Rice, Wheat Atta, Milk, Goat Meat, Onion, Vegetable & Fruit items, Petrol, etc. The increase of 10 points in Amritsar, Banglore and Chandigarh centres is due to Housing Index and increase in the prices of Rice, Wheat, Wheat Atta, Onion, Vegetable & Fruit items, Electricity Charges, Petrol, etc. The increase of 8 points in Haldia centre is due to Housing Index and increase in the prices of Eggs, Onion, etc. However, the decrease of 4 points in Godavarikhani centre is the outcome of decrease in the prices of Rice, Vegetable & Fruit items, etc. 

The indices in respect of the six major centres are as follows :

 

1	Ahmedabad	183
2	Bangalore	196
3	Chennai	172
4	Delhi	173
5	Kolkata	180
6	Mumbai	187

The All-India (General) point to point rate of inflation for the month of January, 2011 is 9.30% as compared to 9.47% in December, 2010. Inflation based on Food Index is 10.22% in January, 2011 as compared to 7.98% in December, 2010.