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  The Department of Pension and Pensioners' Welfare has said in a memorandum that applications have been received from two different sources seeking clarification regarding eligibility of family pension in respect of the same employee/pensioner.  For example, separate pension is being sought in respect of the service rendered by the soldiers in the army and their service rendered in the civil service or autonomous bodies and civil government departments after retirement from the army. New Delhi.   The central government has amended the rules of pension.  This change has been made in the case of family pension.  The Department of Pension and Pensioners' Welfare has issued clarification regarding the right to family pension from two different sources. The Department of Pension and Pensioners' Welfare has said in a memorandum that applications have been received from two different sources seeking clarification regarding eligibility of family pension in respect of the same empl

  The month of May is about to end and June will start soon.  This time many big changes are going to happen from the beginning of June.  These changes will directly affect your life and your pocket.  From the beginning of every month, there is some change, which directly affects you. The External Benchmark Lending Rate (EBLR) for home loans has been increased to 7.05 percent by the country's largest state-owned bank State Bank of India (SBI).  Repo linked lending rate (RLLR) has also increased by 0.40 percent to 6.65 percent.  According to the official website of SBI, the increased interest rates will be applicable from June 1. According to the notification of the Ministry of Road, Transport and Highways, the insurance of cars and bikes will become expensive from June 1.  The premium for third party motor vehicle insurance has been increased by the central government.  After this decision of the government, you will have to pay premium according to the engine capacity of the car. 

  Ration Card: If you also have a ration card and you take free ration from the government through it every month, then this news is of your use.  Actually, a big change has been made in the rules of ration by the government.  This change will be implemented from the month of June.  In such a situation, it is necessary for all ration card holders to be aware of these rules. PREPARING TO GIVE RICE INSTEAD OF WHEAT Free wheat and rice are distributed by the central government to the ration card holders in the states.  This distribution is done under the PM Garib Kalyan Anna Yojana.  Now in this scheme rice will be given instead of wheat.  If this happens, from June you will get less wheat and more rice. Wheat will not be available in three states The Modi government has reduced the quota of wheat to be allocated from May to September under the Garib Kalyan Anna Yojana.  After this change, wheat will not be available for free distribution in UP, Bihar and Kerala.  At the same time, the qu

  The Reserve Bank of India (RBI) has mentioned some days when the banking operations will remain closed in the month of June 2022, although online banking activities will continue to work.  New Delhi: The month of June seems to having the least number of holidays as per the RBI mentioned list. Although there will be more than the prescribed number of days when banks may be closed in some states owing to some local festivities being celebrated there. Several bank branches will remain closed in various states owing to these festivities. Before visiting your bank branch in the month of June, you must note down the list of important days during which banks will remain closed. Read More:- ICICIdirect launches LIFEY: Life Investments For You – Check features The Reserve Bank of India (RBI) has mentioned some days when the banking operations will remain closed in the month of June 2022, although online banking activities will continue to work.  As per the Reserve Bank of India (RBI) holiday

  SHARE   TWEET   SHARE   EMAIL   COMMENTS Tax on Cash Gift to Wife: Experts say that cash gift up to Rs 50,000 from anyone will not have tax implications in normal circumstances.  This Women’s Day, how about giving a cash gift to your wife? Giving a cash gift may be a good idea as it is something that is useful in all circumstances. But it is important to understand how much cash you can gift without any tax implications.  Experts say that cash gift up to Rs 50,000 from anyone will not have tax implications in normal circumstances.  However, in case of cash gift from husband, there is no such limit on how much cash can be gifted without tax implications. In other words, a man can gift any amount to his wife without any tax implication.  “In normal circumstances, cash gifts upto Rs. 50,000 are not subject to tax in the hands of recipient. However, such threshold limit is not applicable in case the cash gift is received from a specified relative (which includes spouse) under section 56(

  It has been provided that every person who is required to furnish or quote his PAN under the Income Tax Act, and who has not been allotted a PAN but possesses the Aadhaar number, may furnish the biometric ID in lieu of PAN. New Delhi: From today, May 26, it has become mandatory to quote either PAN or Aadhaar if you want to deposit or withdraw over Rs 20 lakh in a financial year. The same rule applies for opening of a current account in banks too. The Central Board of Direct Taxes (CBDT) had in a notification said that it will be mandatory to furnish Permanent Account Number (PAN) or 12 digit Aadhaar for high-value deposits or withdrawals from banks in a financial year, or opening of a current account or cash credit account with a bank or post office from May 26. Currently, PAN and Aadhaar are interchangeable for income tax purpose. An assessee needs to mention his/her PAN in all communications with the I-T department and while entering into specified financial transactions. However,

  Income Tax Relief under Section 89 is provided by the Income Tax Act to reduce the additional burden of tax. By Nitesh Buddhadev There are times when employees receive a lumpsum amount for some benefits which accrue over the prior years. For example retrospective increase in salary results in salary arrears, gratuity received which is a lumpsum amount received at the end of the tenure of service but it pertains to a number of years of service to the organisation, leave encashment during the period of service which is received as lumpsum but pertains to leaves accrued in earlier years. All the aforementioned cases result in additional tax burden to the employee due to an amount received in current year for a benefit which accrued over the prior years. In such cases, relief under Section 89 is provided by the Income Tax Act to reduce the additional burden of tax. or instance, Anuradha works for Company ABC. Her monthly salary is Rs. 90,000. Company ABC credits 35 days per year as leave

  The Reserve Bank of India (RBI) has mentioned some days when the banking operations will remain closed in the month of June 2022, although online banking activities will continue to work.  New Delhi: The month of June seems to having the least number of holidays as per the RBI mentioned list. Although there will be more than the prescribed number of days when banks may be closed in some states owing to some local festivities being celebrated there. Several bank branches will remain closed in various states owing to these festivities. Before visiting your bank branch in the month of June, you must note down the list of important days during which banks will remain closed. The Reserve Bank of India (RBI) has mentioned some days when the banking operations will remain closed in the month of June 2022, although online banking activities will continue to work.  As per the Reserve Bank of India (RBI) holiday calendar list banks will be closed for two days, while the other days are that of

  For the second time in a month, the price of LPG (liquid petroleum gas, which is used to cook food by millions of Indian people) increased by Rs 3.50. New Delhi: On Saturday, Union Finance Minister Nirmala Sitharaman said that the government would pay a subsidy of Rs 200 per LPG cylinder to the Pradhan Mantri Ujjwala Yojana’s nearly 9 crore beneficiaries. She stated that the funding would be limited to 12 cylinders per year. This was one of a slew of big-ticket initiatives to combat price rises and inflation in India as a result of the epidemic and the crisis in Ukraine, which has pushed up oil and food costs around the world. For the second time in a month, the price of LPG (liquid petroleum gas, which is used to cook food by millions of Indian people) increased by Rs 3.50. Prices in India have surpassed Rs 1,000. A 14.2 kg cylinder cost Rs 1,003 in Delhi and Mumbai before today’s announcement, Rs 1,029 in Kolkata, and Rs 1,018.5 in Chennai. Sitharaman also reduced the central excis

  SHARE   TWEET   SHARE   EMAIL   COMMENTS Petrol and Diesel price reduce news today: “We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” Union Finance Minister Nirmala Sitharaman. Petrol and Diesel price reduce  news today: Finance Minister Nirmala Sitharaman announced on Saturday that the price of petrol will be reduced by Rs 9.5, whereas the diesel prices will see a cut of Rs 7 due to a sharp cut in central excise duty on fuel prices. “We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” said Union Finance Minister Nirmala Sitharaman. Petrol diesel prices cut: How much will government lose? The government will lose roughly Rs 1 lakh crore in revenue as a result of the action. The Centre is also lowering cust

  India Post Payments Bank account holders availing Aadhaar Enabled Payment System (AEPS) transactions will now have to incur charges for using the services. Every month the initial three AEPS transactions like AEPS cash withdrawal, AEPS cash deposit, AEPS mini statement will be free. However, post the free transactions, each transaction (cash withdrawal or cash deposit) will be charged Rs 20 plus GST while the transaction for mini statement will cost Rs 5 plus GST. These charges will be effective from June 15, 2022. Full form of AEPS is Aadhaar Enabled Payment System and it is a payment service that allows a bank customer to use Aadhaar as his/her identity to access his/her Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash withdrawal, remittances through a Business Correspondent. AEPS registration helps in availing these services: i. Cash Withdrawal ii. Balance Enquiry iii. Mini Statement iv. Aadhaar to Aadhaar Fund Transfer AePS is a bank

  Government has started registrations process for the Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY), which was announced during the Budget 2019-20. Under this scheme, a monthly pension of Rs 3,000 will be provided to eligible farmers on attaining the age of 60. Addressing a press conference here at Krishi Bhawan today, Union Agriculture Minister Narendra Singh Tomar appealed to farmers across the country to join the old age pension Scheme, adding that it has been envisioned with an aim to improve the life of small and marginal farmers of the country. The Minister said that the operational guidelines have been shared with the states and Agriculture Secretary Sanjay Agarwal conducted a Video Conference with States in this regard to ensure proper information dissemination and speedy implementation of the Scheme. Tomar elucidated the salient features of scheme given here:  1. According to the minister, the scheme is voluntary and contributory for farmers in the entry age group of 18 to 4