Finance Minister Nirmala Sitharaman tells Parliament that the number of wilful defaulters who owe money to public sector banks has risen to 8,582 from 7,535.
Senior finance ministry officials have started discussions with ministries and departments to work on the budget & Economic Survey. Focus is on social and rural sectors.
Legally, only SBI, which sells electoral bonds, is expected to have details of donors. So, political parties could claim ignorance on who donated to them.
Arun Jaitley, who returned from the US last week after undergoing medical treatment, is attending a meeting of the Cabinet Committee on Security to discuss the Pulwama attack.
Neither state govts nor companies earn large profits from lotteries. However, a look at the system shows there’s ample evidence of murky dealings and financial irregularities.
The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.
V K Mahajan
27 June 2019
As per military pension rules,any person who is in low medical category at the time of his release from service is treated as” Invalidated” for the purpose of disability pension. Hence even those persons who are released in low medical category on completion of terms or Superannuation are deemed to be “Invalidated for the purpose of disability pension as per rules. Thus entitled to disability Pension tax benefit . Exservicemen in receipt of Disability pension whether after completing full service in low medical category or invalidating out have never been taxed on disability Pension .
(2) In a clarification sought by Army HQ, the CBDT vide their letter no 200/51/99-ITA-I dt 6/5/20
00/ has also clarified that for a person in receipt of DISABILITY pension his full disability pension ie service element & disability element both are exempted from income tax.
(3) The circular para stating that it is only clarifying the existing rule is therefore not understood.
(4) If there are any culprits trying to hoodwink the system & manage disability for tax benefits, surely they can be identified by adding checks & balances in the system& given severe punishment.
Punishing each & every one down the line is not appropriate & will highly lower the morale of Armed forces who will think twice before taking any risk in war/peace .
Indeed deplorable. Soldiers injured in operations or battles / skirmishes on borders too will be paying taxes for disability pension earned due to loss of limb or other disability.
How much will Govt be able to earn / save by such things? Is this the love displayed by the Party that asks votes for soldiers who sacrificed their lives.?
Indeed saddening.
V K Mahajan
27 June 2019
As per military pension rules,any person who is in low medical category at the time of his release from service is treated as” Invalidated” for the purpose of disability pension. Hence even those persons who are released in low medical category on completion of terms or Superannuation are deemed to be “Invalidated for the purpose of disability pension as per rules. Thus entitled to disability Pension tax benefit . Exservicemen in receipt of Disability pension whether after completing full service in low medical category or invalidating out have never been taxed on disability Pension .
(2) In a clarification sought by Army HQ, the CBDT vide their letter no 200/51/99-ITA-I dt 6/5/20
00/ has also clarified that for a person in receipt of DISABILITY pension his full disability pension ie service element & disability element both are exempted from income tax.
(3) The circular para stating that it is only clarifying the existing rule is therefore not understood.
(4) If there are any culprits trying to hoodwink the system & manage disability for tax benefits, surely they can be identified by adding checks & balances in the system& given severe punishment.
Punishing each & every one down the line is not appropriate & will highly lower the morale of Armed forces who will think twice before taking any risk in war/peace .
Hope the circular will be reviewed & withdrawn.
I suggest FM to impose an additional penalty of 10℅ on Retiring Pension of all Soldiers,for the mistake they have done by joining the services.
Indeed deplorable. Soldiers injured in operations or battles / skirmishes on borders too will be paying taxes for disability pension earned due to loss of limb or other disability.
How much will Govt be able to earn / save by such things? Is this the love displayed by the Party that asks votes for soldiers who sacrificed their lives.?
Indeed saddening.