Income Tax slabs for individuals for the financial year 2017-18
No changes have been made to existing income tax slabs. FM reduces income tax rate from 10% to 5% for Income up to 5 lakh Tax Credit of 5% of taxable income. (Maximum of Rs. 2500/-) u/s.87A up to the taxable income of Rs.3.50 lakh-. Surcharge of 10% for Tax on those whose annual income…
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Banking Facility for Senior Citizens and Differently abled Persons
RBI in its circular RBI/2017-18/89 /DBR.No.Leg.BC.96/09.07.005/2017-18 dated November 9, 2017 observed that there are occasions when banks discourage or turn away senior citizens and differently abled persons from availing banking facilities in branches. In this regard, Developmental and Regulatory Policies, released by Reserve Bank of India on October 4, 2017 state that notwithstanding the need…
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The Central Cabinet approves 2.11 lakh crore recapitalization package to public sector banks.
The Financae Minister Mr.Arun Jaitley, said that Cabinet approves 2.11 lakh crore recapitalization package to public sector banks. Of 2.11 crore, Rs 1.35 lakh crore will come from recap bonds, while the rest will come from the market and budgetary support.Finance minister informed that the entire Rs 2.11 lakh crore of capitalisation will be spread…
Read article22 slabs Jump in Bank employees DA for the August – October 2017
The confirmed DA for the months of August-October 2017 is @47.80% on ‘pay’ (which includes allowances eligible for DA) @ the rate of 0.10% per slab. It means an increase of 22 slabs over the previous (May –July 2017) level of DA for the Bank employees and officers. Dearness Allowance of Bank Officers Dearness Allowance…
Read articleRBI keeps Repo rate, CRR, Bank rate …unchanged,
June 7, 2017- The Reserve Bank of India on Wednesday in its second Bi-Monthly Statement for 2017-18, kept the key policy rates unchanged. With the above monetary policy decision of the apex bank, the repo rate (the rate at which banks borrow funds from the RBI) stays at 6.25 per cent. Further, the Monetary Policy…
Bank employees DA for May-July 2017
The confirmed DA for the months of May-July 2017 is @45.60% on ‘pay’ (which includes allowances eligible for DA) @ the rate of 0.10% per slab. It means a decrease of 13 slabs over the previous (February –April 2017) level of DA for the Bank employees and officers. The DA slabs are calculated based on…
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