Finance Minister Arun Jaitley, who left for the US for medical treatment, has been diagnosed with a rare kind of cancer and may not be able to present this year’s Interim Budget on February 1, sources said.
Jaitley had left for the US on Sunday for what was believed to be a medical check-up relating to his kidney ailment. However, sources said he was diagnosed with soft tissue sarcoma, a rare type of cancer, and decided to go for treatment in New York. There was no word on when he was likely to return, but some sources said he was expected back on January 19, but others said it could be later.
Jaitley, 66, had undergone a renal transplant surgery on May 14 last year. Officials have been tight-lipped about the trip which has come at a time when the Finance Ministry is busy with the preparations of the vote-on-account budget to be presented in the Lok Sabha on February 1 – his sixth and the last by the BJP-led NDA government in its current term. By convention, an interim budget normally does not contain fresh proposals, especially relating to taxation measures. But the coming vote-on-account budget may spring some surprises like increase in the exemption threshold for income tax assessees and some measures to address agrarian unrest.
7th Pay Commission Latest News: In what comes as good news for the central government employees ahead of the Lok Sabha elections, the government is likely to announce changes in its New Pension Scheme (NPS), also known as National Penson Scheme, by next week.
Speculations are rife that the Modi government may tweak its New Pension Scheme (NPS), by next week, according to Zee Business.
“The government has not changed the name of the pension scheme and has still kept its name as the new pension scheme. However, some improvements have been made in the scheme,” Indian Public Service Employees Federation president VP Mishra told Zee Business Online.
The government had decided to make some changes to the NPS in December last year, to not just hike the Centre’s contribution to the corpus, but also introduce tax exemptions. However, no formal announcement was made regarding the plan, reported Business Today.
According to reports, the changes in the scheme will not only relate to hike in minimum pay and fitment factor but also include extension of tax exemption threshold.
It is reported that the under the proposed changes in the NPS, the government will increase its contribution to employee pension to 14 per cent of the basic salary, from the current 10 per cent.
Earlier, employees contributed 10 per cent of their basic salary to the NPS, with the central government contributing a matching amount.
The individual contributions, which will continue to be capped at 10 per cent of the basic salary, will be exempt from taxable income under Section 80 C of Income Tax Act. Under the 2004 scheme, employees’ contribution could not be used for tax exemptions.
Also, the Centre may double the income tax exemption threshold for the salaried from the present Rs 2.5 lakh to Rs 5 lakh while also reinstating tax-free status for medical expenses and transport allowance, providing some relief to the section already under strain since demonetisation.
At the moment, income up to Rs 2.5 lakh is exempt from personal income tax. Income between Rs 2.5 lakh and 5 lakh attracts a 5 per cent tax, while that between Rs 5 lakh and Rs 10 lakh is levied with a 20 per cent tax. Income above Rs 10 lakh is taxed at 30 per cent. Exemption on income up to Rs 5 lakh is only applicable to individuals of over 80 years.
Varalaxmi Sarathkumar has earned name, fame and stardom amongst the Telugu audiences with her two recent blockbuster hits Sarkar and Pandem Kodi 2.
During a recent interview, the actor said that many filmmakers from Telugu film industry have approached her for a straight Telugu film, but she hasn’t signed any as none of those roles excited her to take up the project. “I think I can do straight Telugu films. I am fluent talking in Telugu, though not so perfect. So I am absolutely fine and ready to be part of Telugu films,” she said.
And the latest news is that the actor signed up for her first Telugu film. She will be essaying a key role in Nageshwar Reddy directorial which will have Sundeep Kishan and Hansika in lead roles. Titled Tenali Ramakrishna BA Bl, the film is going to be a comedy entertainer.
New Delhi: The Supreme Court Wednesday dismissed the pleas of five states seeking modification of its order issued last year on selection and appointment of director generals of police (DGPs).
The apex court was hearing applications of various state governments, including Punjab, Kerala, West Bengal, Haryana and Bihar, seeking implementation of their local laws regarding selection and appointment of DGPs.
A bench headed by Chief Justice Ranjan Gogoi said that the earlier directions of the court on selection and appointment of DGPs were issued in larger public interest and to protect the police officials from political interference.
The top court, on July 3 last year, had passed a slew of directions on police reforms in the country and chronicled the steps for appointment of regular DGPs. (PTI)
Karimnagar(Telangana): Three cyber criminals have been arrested and Rs 4.60 lakhs recovered from them, police said Wednesday.
The trio of Daljith Singh and Tousif Alam, both from West Bengal, and Tink from Jharkhand was apprehended at a railway station in the state last Friday and brought to Ramagundam Wednesday, the police said.
The three had allegedly cheated two people here of Rs 5.16 lakh by diverting money from their bank accounts on November 5 and 10, 2018 after getting account details from the victims, they said.
The three would soon be produced before a local court, they added. (PTI)