Expected New Income tax slab from 2012-13

NEW TAX CODE TAX DEDUCTION LIMIT ON SAVINGS LIKELY  TO BE HIKED To Rs 3 lakh (Rs 3,00,000).
Proposed Income Tax Rates for Individuals
Up to Rs.1,60,000	Nil
From Rs.1,60,000 to Rs.10,00,000	10 Per cent (Income exceeds Rs.1,60,000)
From Rs.10,00,000 to 25,00,000	20 Per cent (Rs.84,000 + Income exceeds Rs.10,00,000)
Above Rs.25,00,000	30 Per cent (Rs.3,84,000 + Income exceeds Rs.25,00,000)

Proposed Income Tax Rates for Women-below 65 years

 

Up to Rs.1,90,000	Nil
From Rs.1,90,000 to Rs.10,00,000	10 Per cent (Income exceeds Rs.1,90,000)
From Rs.10,00,000 to 25,00,000	20 Per cent (Rs.81,000 + Income exceeds Rs.10,00,000)
Above Rs.25,00,000	30 Per cent (Rs.3,81,000 + Income exceeds Rs.25,00,000)

Proposed Income Tax Rates for Senior Citizens
Up to Rs.2,40,000	Nil
From Rs.2,40,000 to Rs.10,00,000	10 Per cent (Income exceeds Rs.2,40,000)
From Rs.10,00,000 to 25,00,000	20 Per cent (Rs.76,000 + Income exceeds Rs.10,00,000)
Above Rs.25,00,000	30 Per cent (Rs.3,76,000 + Income exceeds Rs.25,00,000)

DOP&T order for Granting one increment

           The order for Granting one increment to the Central Government Employees may be issued in the first week of March 2012.Sources close to the DOP&T informed that the issue of granting one increment to the government servants, whose increment date falls between February 2006 and June 2006, has been forwarded to Finance Ministry for its approval. According to the sources, the Finance Ministry gave its approval to this proposal as agreed by the Government in the National Anomaly Committee.

            The Federations representing National Anomaly Committee approached the Government to issue the order very soon, since the decision of granting one increment to the govt servants was taken in the National Anomaly Committee on 5th January 2012. It is believed that the federations were informed that due to the ongoing Elections for state assemblies in some states, issuing order is delayed. As per the Election Schedule the elections for state assemblies for 5 States are commenced on 28-1-2012, and the 6th phase of U.P and Goa State assembly elections will be completed by 03-03-2012. So, keeping in view of the above, we can expect that the order for Granting one increment to the Central Government Employees may be issued in the first week of March 2012.

            According to the decision which is agreed by government in National Anomaly Committee, the govt servants will be granted one increment in the pre revised 5 CPC scale on 01-01-2006, and then it will be multiplied by 1.86 and the pay in the Pay Band in the 6 CPC will be fixed accordingly.

Expected D.A. from 1-1-2012

ALL INDIA CONSUMER PRICE INDEX

BASE YEAR 2001=100

 

Month	Base Year 2001=100	Total of 12 Months	Twelve Monthly Average	% increase over 115.76 for DA
December-2010	185	2111	175.92	51.97
January-2011	188	2127	177.25	53.12
February-2011	185	2142	178.50	54.20
March-2011	185	2157	179.75	55.28
April-2011	186	2173	181.09	56.44
May-2011	187	2188	182.33	57.51
June-2011	189	2203	183.58	58.59
July-2011	193	2218	184.83	59.67
August-2011	194	2234	186.17	60.82
September-2011	197	2252	187.67	62.12
October-2011	198	2269	189.08	63.34
November-2011	199	2286	190.50	64.56
Expected D.A. from 1-1-2012-65%

The sweet girl

The sweet girl, the intimate

Smile for my sake

And smile once again…

When you smile

Lightening flashes, jovial

Snow melts and cherry blossoms

Lily wakes up from slumber

The moon peeps behind the floating clouds…

When you smile

Moments of dullness cheer up

All by themselves,

Worries melt like sweet ice creams

And monotony evaporates,

Fatigue of years but drifts away

Into the sky of inconsequence,

Wishes jump unruly in all directions

Like those charged, mischievous popcorns…

I hear you humming

Like the tinkling of a wind chime;

You flood my senses

In fun and frolic;

Just a glimpse of yours is enough

To make me feel the warmth

And long to gaze at you

For aeons on end...

Your moist lips speak

Myriad of yearnings in silence,

Your fleeting winks convey

Plenty of mischievous suggestions;

I understand them, but

In my own frivolous way

Beyond the limits of deadly commonsense...

Millie, the bounteous!

You enriched me with your love

True, you’ve the world before you to soothe

Yet smile a while for my sake!

And smile a while for my sake!

_______________________
By
Shri A. N. Nanda, IPoS
PMG, Coimbatore
20-10-2011

Source: http://ramblingnanda.blogspot.in

Enhancement of PLI ceiling

PLI Directorate Memo No. 25-3/2003-LI dated 17/1/2012.

  The President is pleased to make the following amendments to “Post Office Life Insurance Rules 2011” published on 28^th April, 2011 in Gazette of India No.85(Part-I Section –I Extraordinary)

a)    The amount of maximum or aggregate sum assured mentioned as Rs.Ten Lac (Rs.10.00.000/-) in Rules No.7, 14 and 17(e) may now be read as Rs. Twenty Lac (Rs.20,00,000/-) in respect of PLI.

b)    The amount of maximum or aggregate sum assured mentioned as Rs.Three Lac (Rs.3.00.000/-) in Rules No.9(a), 10(a), 15 and 17(e) may now be read as Rs. Five Lac (Rs.5,00,000/-) in respect of RPLI.

The amendments shall be effective from the date of  issue of this Notification.

                                                                       Sd/-

                                                                                       (Shekhar K. Sinha)

                                                                               Chief General Manager (PLI)

                                                                    Equivalent to Addl. Secy. to Govt. of India