IPS officer jailed for cheating in UPSC, wife arrested in Hyderabad

CHENNAI/HYDERABAD: Police on Monday arrested a Tamil Nadu-cadre trainee IPS officer after Intelligence Bureau officers caught him cheating in the Union Public Service Commission (Main) Examination at a test centre in Egmore, Chennai.

Investigators said Safeer Karim, an assistant superintendent of police in Nanguneri, Tirunelveli, took a cellphone, a Bluetooth-enabled miniature camera in a shirt button and wireless earpieces into the examination hall in Presidency Girls Higher Secondary School.

"Karim's wife, Joicy Joy, dictated the answers to him from Hyderabad," an investigating officer said.

The Hyderabad police made coordinated arrests, taking Joy into custody at `La Excellence IAS -The Institute for Civil Services' at Ashok Nagar Crossroads in Hyderabad, where she was a visiting faculty member, as well as the institute's director and Karim's friend, P Rambabu. "Karim wanted to join the IAS, so he took the UPSC exams again," the officer said.

Karim, from Aluva, Kerala, who ranked 112 in a second attempt at the UPSC exams in 2015 after falling short in the interview the previous year, is an electronics engineer and proprietor of Karim's IAS, which trains civil service candidates and has branches in Kochi and Thiruvananthapuram. The officer said the IB, suspecting that Karim had cheated in the first of five tests in the UPSC examinations on Saturday, had put him under surveillance. They also monitored his wife. Four IB sleuths followed him to the examination hall on Monday where Karim successfully tricked a couple of policemen who were frisking candidates at the entry.

"Karim handed over his wallet and a cellphone to them from his trouser pockets, apologizing for forgetting to leave the handset in his car," the officer said. "But he had concealed another phone and wireless earpieces in his socks and a miniature camera in his shirt." The three-hour examination started at 9am. Twenty minutes later, IB sleuths entered the hall, searched Karim and seized the cellphone, which had concealed under his seat, the camera and earpieces.

"Karim admitted during interrogation that he took photographs of the question paper and sent them to his wife, who relayed the answers to him," the officer said. The IB officers handed him over to police, who booked him under relevant sections of the IPC, including 420 (cheating and dishonesty) and 120b (criminal conspiracy), and under provisions of the IT Act, and took him into custody.

Police on Tuesday night produced Karim before a magistrate, who remanded him in judicial custody. Officers said he faces dismissal from the IPS because he is still on probation. Friends told investigators that after Karim met with an accident recently and failed police fitness tests, he believed he did not have a viable future unless he opted for the IAS, the officer said. They told officers that Karim had been a topper in the CAT business school entrance exam, but in 2015 set up institutes in Kerala to train students for the civil service exams. Kareem met Joy when she took a job as an economics teacher at his academy and married her in 2016.

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GST Impact – Now You Have to Shell Out More Money to buy Fridge, AC & Washing Machine

ST Impact – Now You Have to Shell Out More Money to buy Fridge, AC & Washing Machine

NEW DELHI: It’s going to be the steepest price hike in four years. Come April 1, prices of CTVs, fridges, ACs and washing machines will go up by up to 10 per cent, which in absolute terms would work out between Rs 700-2,000.

Manufacturing Company’s  say cost of raw materials used in manufacturing white goods has gone up by 30-50 percent due to GST.

While steel saw a 40 percent increase in price, copper prices rose 50 percent. Supply of a chemical named MDI, which is used to create foams for refrigerators, has been falling short internationally and its price has since doubled.

 While prices of durables and appliances have been going up over the past one year, the increases have been only to the tune of 2-5 per cent. Firms attribute the coming hike to rising material costs as well as to the impact of value-added tax (VAT). “We have to protect bottomlines, which will be hurt by increasing material costs,” LG MD KR Kim said.

A Samsung official said implementation of the differential tax structure across states (as some states are not implementing VAT from April 1) would also impact prices lines. “Different incidence of taxation across states will lead to price revisions,” the official said.

Appliances firms Electrolux and Whirlpool, too, said an upward revision of fridge, AC and washing machine prices was imminent. Said Rajeev Karwal, MD & CEO, Electrolux Kelvinator, “We have increased fridge and AC prices by 5 per cent. Additional hikes are inevitable. We have to take into account factors like material costs.”

Arvind Mediratta, Whirlpool’s VP, said the price hike of up to 10 per cent would come into effect from next month. Godrej Appliances is toeing the same line.

While the 20 per cent rise in steel prices will directly impact prices of fridges, ACs and washing machines, CTV prices are being revised on account of cumulative higher costs of components like copper, aluminium and even plastics. Costs of resin and plastics, for example, have gone up by 25 per cent. The Budget, last month, had announced increase in excise duty of steel from 12 per cent to 16 per cent

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7th Pay Commission: NAC told to keep CG employees happy, not overspend, avoid job loss

Members of the National Anomaly Committee looking into the pay hike beyond the recommendations of the 7th Pay Commission have been told to strike a balance while making a decision. The NAC which is all set to meet have been told that a wise decision should be taken so that all parties are satisfied. This was the advise given by top officials of the government.

Strike a balance, NAC told The NAC has been told to consider all aspects before taking a decision. The advise to the NAC is three-fold. It has been told to first ensure that the employees are happy. Secondly, it has been told that there should not be any job loss caused as a result of its decision. Thirdly the NAC has been advised to also keep in mind what is affordable to the Government of India.

Latest update on NAC meet The NAC meet which was scheduled for October was postponed. While no fresh date has been given, sources say that the meeting is likely to take place only after the elections in Gujarat and Himachal Pradesh are complete. This would mean that there is every possibility of the meeting being held on in December, the source also added.

Lot would depend on election results A rise in the minimum pay and fitment factor would be a good political move for the BJP which is looking to retain Gujarat and take Himachal Pradesh. Both the elections would gauge the peoples' mood following the decisions on demonetisation and GST. If the government gets the thumbs up from the voter, then it would not hesitate in speeding up the process to award a pay hike to the Central Government employees.

7th Pay Commission, salaries of IIT NIT set to rise For the faculty of the IITs and NITs, there is a possibility that the government would hike their salaries beyond the 7th Pay Commission. While the pay panel had recommended a 16 to 20 per cent pay hike to the faculty members, there is a chance that it may raise now to anything between Rs 20,000 and Rs 40,000. 

OneIndia News

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7th Pay Commission: Will government raise minimum pay?

7th Pay Commission: Will government raise minimum pay?

The pay rise, the finance ministry says, should take place in January, and would mean a pay rise for 4.8 million central government employees and 5.5 million pensioners. If the government decides to implement the rise, which it may do after the completion of Gujarat and Himachal Pradesh assemblies poll process, it would be the second successive pay hike, and would bring the real value of the minimum pay back in line.

A top Finance Ministry official, who did not wish to be named, indicated the government will be taking the proposal seriously, but cannot implement the pay rise now, it will be decided after the Gujarat and Himachal Pradesh assemblies elections.

This would represent minimum pay rise of Rs 21,000 for central government employees. If this recommendation were accepted, the value of the minimum pay would be higher than the recommendations of the 7th Pay Commission of Rs 18,000 and the government is now making good progress towards restoring the value it lost during the previous period of its cabinet nod, he said.

The National Anomaly Committee (NAC), which has been formed to look into pay anomalies arising out of the implementation of the 7th Pay Commission's recommendations, has to strike a delicate balance between what is fair for employees and what is affordable for the government, without costing jobs. It does so impartially and without political interference. It is important that it is able to complete to do its work before Gujarat and Himachal Pradesh elections, he added.

A rise in the minimum pay would be a good political move for the BJP, as it would bolster their argument on the cost of living debate for benefit poor and middle class, where Congress said that Modi government gave India achhe din with a broken GST and failed note ban.

Prime Minister Narendra Modi has killed the country's economy by firing "double tap" shots of note ban and GST into it, Congress vice president Rahul Gandhi said.

The economic experts are also worried about the GST and note ban’s effect on exchequer. If such a situation is not chaos, then how is government going to implement minimum pay Rs 21,000?

But the official has said that it is possible for the minimum pay to jump up to Rs 21,000 with fitment factor 3.00 to reap political gains for BJP in future, but such a rise is less likely now the the central government employees unions’ demanding for hiking minimum to Rs 26,000 with fitment factor 3.68. If fitment formula is tinkered with 3.00, the salary and pension in general for all segments of employees will go up.

Earlier, the government had given nod minimum pay from Rs 7,000 to Rs 18,000 per month with fitment factor 2.57 on the recommendations of the 7th pay commission. Finance Minister Arun Jaitley had also promised to raise minimum pay in a meeting with the central government employees unions leaders on June 30, 2016, the day after the cabinet approval of the 7th Pay Commission's recommendations.

TST

You may also visit: Latest News about 7th Pay Commission

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Income Tax 2017-18 (Assessment Year 2018-19) - Tax slab

Income Tax 2017-18 (Assessment Year 2018-19) - Tax slab

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Public Provident Fund account will be closed, NSCs encashed if holder turns NRI

Public Provident Fund account will be closed, NSCs encashed if holder turns NRI

NRIs are not allowed in instruments like the National Savings Certificates, Public Provident Fund, Monthly Income Schemes and other time deposits offered by the post office.

Amending rules on post office savings schemes like the National Savings Certificates (NSC) and Public Provident Fund (PPF), the government has notified that such accounts would be closed prior to maturity in case of holders changing their personal status to become non-resident Indians(NRIs).

The amended rules were notified in the official gazette earlier this month.

The amendment to the PPF Scheme, 1968, says: "If a resident who opened an account under this scheme, subsequently becomes a non-resident during the currency of the maturity period, the account shall be deemed to be closed with effect from the day he becomes non-resident."

The interest payable would be up to the date of the account closure, it said.

A separate notification on NSCs said in case of a similar change of status of the certificate holder before the maturity period, "the certificate will be encashed, or deemed to be encashed on the day he becomes non-resident" and interest will be paid accordingly.

NRIs are not allowed in instruments like the National Savings Certificates, Public Provident Fund, Monthly Income Schemes and other time deposits offered by the post office.

Asked to comment in this regard, an investment consultant said that it is unclear why NRIs are not allowed to invest in post office schemes.

Last month, the government had retained the interest rate on Public Provident Fund for October-December unchanged at 7.8 per cent, in line with the rates for small savings schemes.

Source :  The Economic Times

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UIDAI to empower government, bank staff to clear Aadhaar enrollment

UIDAI to empower government, bank staff to clear Aadhaar enrollment

PTI , NEW DELHI, OCTOBER 29, 2017

The UIDAI will soon evolve a process for authorised employees of banks, post offices and the government to biometrically sign off Aadhaar enrolment and updation form collection, as the process of applying for the id moves into such premises.

The move is aimed at addressing the security concerns around collection of biometric and other information, Ajay Bhushan Pandey, CEO of the Aadhaar-issuing body, the Unique Identification Authority of India (UIDAI), told PTI.

The UIDAI had earlier asked States to ensure that enrolments, even those by private agencies, shift to government or municipal premises from external private operator-run sites.

Moreover, it has directed private as well as public sector banks to set up Aadhaar enrolment facility in at least one out of 10 branches. “The enrolment and updates will happen largely in banks, post office and government premises. “There also, during enrolment, the authorised employee of the banks, post offices or the government will have to biometrically sign the Aadhaar enrolment or updation application,” Mr. Pandey said.

A process for this additional layer of security and supervision is being evolved and the proposed mechanism is likely to be in place by January, he added. The mechanism entails a staff, authorised for the purpose, to biometrically sign off the application form after it is received.

Earlier, data collection was by a private operator and the form was verified by government-appointed verifier.

But now the biometric signature of the designated official will be taken, fortifying the collection process and making it more secure, according to the UIDAI.

“Earlier the private operator — even though he was a certified operator — used to sign it, now it will have to be counter signed through biometrics by a government, bank or post office employee,” Mr. Pandey added.

Source : The Hindu

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P M Gurusamy, 92 who after retirement helping people at Ramnad HPO, TN State

P M Gurusamy, 92 who after retirement helping people at Ramnad HPO, TN State

Source : Trinity Mirror

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Finacle : Closing of RD Account if loan exists.

Finacle : Closing of RD Account if loan exists.

Closing of RD Account if loan exists.

Premature Closure ( If 60 months not elapsed from date of opening)

Invoke the RD Closure menu CRDCAAC from Operator Login. System will automatically deduct the RD Loan amount and interest will be calculated on SB Rate of interest as per rule. Loan interest will not be calculated. RD Loan account balance will become 0 but will not be closed. Loan account with Zero balance should be remained as it is and not closed. No need to invoke HLAUPAY or HPAYOFF for repaying the Loan amount.

On Maturity ( If 60 months elapsed from date of opening)

RD Loan amount should be adjusted before closing the RD account. Invoke the menu HPAYOFF (Loan Pay Off Process) to pay the pending principal along with interest. Interest will be calculated at the prescribed rate. Total amount displayed to be collected from the customer. In case of transfer, select the repayment account of customer or office account from where the loan amount is adjusted. Supervisor need to verify the same. Invoke the menu HCAAC to close the RD Loan account and verify the same. Invoke the menu CRDAAC to close the RD Account.

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Celebrate World thrift day (30 Oct 2017) Open Postal Savings Account is providing Banking to Everyone....

Celebrate World thrift day (30 Oct 2017) Open Postal Savings Account is providing Banking to Everyone....

Celebrate World thrift day (30 Oct 2017) Open Postal Savings Account is providing Banking to Everyone....

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Mandatory installation of LED based lighting in all Government buildings

Mandatory installation of LED based lighting in all Government buildings

Mandatory installation of LED based lighting in all Government buildings

Most Immediate

No.25(24)/E.Coord/2017
Government of India
Ministry of Finance
Department of Expenditure

North Block, New Delhi
Dated the 30th October, 2017

OFFICE MEMORANDUM

Subject: Economy Measures- Mandatory installation of LED based lightings in Government Buildings- reg.

Reference is invited to this Department's OM of even number dated 04.08.2017 on the subject mentioned above and to inform that the implementation progress was reviewed recently by Group of officers vide meeting in Cabinet Secretariat on 29.09.2017.

2. As per decision taken during the deliberation, all Ministries/Departments are requested to ensure that replacement work of old bulbs with new LED based lightnings is completed by 31.10.2017 in your offices including Attached/Subordinate Offices, CPSUs, Autonomous Bodies and field offices.

3. It is requested that Ministries/Departments should apprised Department of Expenditure with the action taken in this regard by 10.11.2017 positively as per the format attached.

4. Further, each Ministry/Department should nominate a Nodal Officer at the level of Joint Secretary for monitoring the progress and certifying completion of installation of LED based lightings and energy efficiency measures on behalf of the Ministry/Department. The names of the nominated officers should be provided by 03.11.2017.

(H. Atheli)

Director

To,

All Secretaries of Ministries/Departments

Source: DoE

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India Post issued a set of 2 commemorative postage stamps on "India Russia-Joint Issue" of denomination Rs 5 & Rs 25 on 26.10.2017

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Non uploading the encrypted file through HTTUME Menu

Non uploading the encrypted file through HTTUME Menu

Click below link to download revised Schedule exe for Generating error free Pay uploading file.

Download

Dear SAs

A new exe is attached herewith to overcome the existing issue. Please cut and keep old exe somewhere safe and replace the new exe and generate the encrypted Pension file and try to upload through finacle

Thanks to  P.Silambarasan for sharing content

You may also visit: finacle | Salar

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PFRDA takes a new initiative to increase pension coverage by increasing the incentives payable to Points of Presence (POPs)

Press Information Bureau
Government of India
Ministry of Finance

27-October, 2017

PFRDA takes a new initiative to increase pension coverage by increasing the incentives payable to Points of Presence (POPs), the principal distributive points for NPS.

Pension Fund Regulatory and Development Authority (PFRDA) has taken several initiatives in the past few years to increase pension coverage in the country, notably introducing e-NPS, reducing minimum contribution levels, new investment instruments, aggressive life cycle funds etc.

PFRDA has now taken a further step in this direction by increasing the incentives payable to Points of Presence (POPs), the principal distributive points for National Pension System (NPS).

The following Table gives the details of increase in incentives:

*Changes effected

A new incentive towards increasing persistency has been introduced under which POPs will receive an incentive of Rs. 50/- per account per annum for every account which continues to contribute a minimum of Rs 1000/- in a financial year.

PFRDA believes that the renewed incentive will help in increasing the reach of pensions in India, through the efforts of Points of presence (POPs).

Source:PIB

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Delhi Chalo

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Easing GST pain for SMEs: More rate cuts, hike in composition scheme cut-off likely on 10 Nov

Easing GST pain for SMEs: More rate cuts, hike in composition scheme cut-off likely on 10 Nov

The ministerial panel working to make Goods and Services Tax (GST) composition scheme more attractive today suggested slashing tax rate to 1 percent for manufacturers and restaurants, while making norms for traders opting for the scheme easier.

Currently, manufacturers and restaurants with turnover up to Rs 1 crore pay GST under composition scheme at 2 percent and 5 percent respectively. The same for traders is 1 percent.

The Group of Ministers (GoM), headed by Assam Finance Minister Himanta Biswa Sarma, on Sunday held its second meeting.

The GoM has also suggested doing away with the tax rate distinction between AC and non-AC restaurants, those which are not covered under composition scheme, and tax them at 12 percent with input credit.

It also suggested that eating out at hotels, which has room tariff of more than Rs 7,500, should attract an uniform 18 percent tax rate instead of any separate category for 5- star hotel.

The GST Council, chaired by Union Finance Minister Arun Jaitley and comprising his state counterparts, on 10 November in Guwahati is likely to take up the recommendations of the GoM, which was set up earlier this month.

According to a report, the panel has also suggested an increase in the threshold for composition scheme to Rs 1.5 crore.

“This would require changes in the law as that had defined the maximum limit for composition scheme to be Rs 1 crore. So, in CGST law, we will propose the maximum limit to be raised to Rs 2 crore and implement Rs 1.5 crore as the threshold for composition dealers,” one of the state finance ministers has been quoted as saying in the IE report.

With regard to traders, the GoM suggested two pronged approach for taxation under the composition scheme.

It suggested that traders who want to exclude the sale proceeds of tax-free items from its turnover, it can pay 1 per cent GST (Goods and Services Tax). However, those traders who pay tax on total turnover, the tax rate has been proposed at 0.5 percent

For example, supposing a trader deals in goods which are tax exempt as well as those which are taxable under the GST and has a turnover of Rs 1 crore. Of this, Rs 40 lakh turnover is from sale of tax-exempt items and remaining Rs 60 lakh from taxable goods.

So, traders deciding to pay tax on total Rs 1 crore turnover can pay 0.5 percent, while those wanting to pay tax on Rs 60 lakh can cough up 1 percent GST.

“The GoM decided that tax rates under composition scheme for restaurants and manufacturers be lowered to 1 percent. For traders the ministerial group suggested two tax rates,” an official told PTI.

The GoM also recommended allowing businesses who are engaged in inter-state sale to avail the composition scheme, he added.

Around 15 lakh businesses opted for composition scheme, which allows them to pay taxes at a concessional rate and makes compliance easy under the Goods and Services Tax (GST) which rolled out from July 1. There are over 1 crore businesses registered under GST.

Composition scheme is open for manufacturers, restaurants and traders whose turnover does not exceed Rs 1 crore. This threshold was earlier Rs 75 lakh and the GST Council earlier this month raised it to Rs 1 crore from 1 October.

While a regular taxpayer has to pay taxes on a monthly basis, a composition supplier is required to file only one return and pay taxes on a quarterly basis.

Also, a composition taxpayer is not required to keep detailed records that a normal taxpayer is supposed to maintain.

The GoM was tasked with revisiting the tax structure of different categories of restaurants with the aim of rationalising or reducing the rates, apart from making composition scheme more attractive for businesses.

Currently, GST is levied at 12 percent on non-AC restaurants, while it is 18 percent for air-conditioned ones.

The other members of the GoM are Bihar Deputy Chief Minister Sushil Modi, Jammu and Kashmir Finance Minister Haseeb Drabu, Punjab Finance Minister Manpreet Singh Badal and Chhattisgarh Minister of Commercial Taxes Amar Agrawal.

The GoM has also suggested that manufacturers engaged in job works can be allowed to opt for composition scheme, the official added.

Source: PTI

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Income Tax 2017-18 (Assessment Year 2018-19) – Income Tax Structure, Exemption and Deductions available to Personal Income Tax Payers

Income Tax 2017-18 (Assessment Year 2018-19) – Income Tax Structure, Exemption and Deductions available to Personal Income Tax Payers

More Income Tax liability for Salaried Employees due to maximum rate of housing loan interest capped at Rs. 2 lakh even in the case of rented property

GConnect Income Tax Calculator 2017-18 (Assessment Year 2018-19) for Central Government Employees and Pensioners – Instant Version

PART I: Income Tax Slab for Individual Tax Payers & HUF (Other than Senior Citizens)

INCOME SLAB	TAX RATE
Income up to Rs 2,50,000*	No tax
Income from Rs 2,50,000 – Rs 5,00,000	5%
Income from Rs 5,00,000 – 10,00,000	20%
Income more than Rs 10,00,000	30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore. Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
*Income tax exemption limit for FY 2017-18 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)

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PART II: Income Tax Slab for Senior Citizens (60 Years Old Or More but Less than 80 Years Old)(Both Men & Women)

INCOME SLAB	TAX RATE
Income up to Rs 3,00,000*	No tax
Income from Rs 3,00,000 – Rs 5,00,000	5%
Income from Rs 5,00,000 – 10,00,000	20%
Income more than Rs 10,00,000	30%
Surcharge: 10% of income tax, where total income exceeds Rs.50 lakh upto Rs.1 crore. Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
*Income tax exemption limit for FY 2017-1 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)

PART III: Income Tax Slab for Senior Citizens(80 Years Old Or More) (Both Men & Women)

INCOME SLAB	TAX RATE
Income up to Rs 2,50,000*	No tax
Income up to Rs 5,00,000*	No tax
Income from Rs 5,00,000 – 10,00,000	20%
Income more than Rs 10,00,000	30%
Surcharge: 15% of income tax, where total income exceeds Rs.1 crore.
Cess: 3% on total of income tax + surcharge.
*Income tax exemption limit for FY 2017-18 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)

There is also a tax rebate of up to Rs.2,500 for a taxable income up to Rs. 3.5 lakhs.

Deductions available under Chapter VI A (Section 80)

SECTION	DEDUCTION ON	FY 2016-17
Section 80C	Investment in PPF Employee’s share of PF contribution NSCs Life Insurance Premium payment Children’s Tuition Fee Principal Repayment of home loan Investment in Sukanya Samridhi Account ULIPS ELSS Sum paid to purchase deferred annuity Five year deposit scheme Senior Citizens savings scheme Subscription to notified securities/notified deposits scheme Contribution to notified Pension Fund set up by Mutual Fund or UTI. Subscription to Home Loan Account Scheme of the National Housing Bank Subscription to deposit scheme of a public sector or company engaged in providing housing finance Contribution to notified annuity Plan of LIC Subscription to equity shares/ debentures of an approved eligible issue Subscription to notified bonds of NABARD	Rs. 1,50,000
80CC	For amount deposited in annuity plan of LIC or any other insurer for pension from a fund referred to in Section 10(23AAB).	–
80CCD(1)	Employee’s contribution to NPS account (maximum up to Rs 1,50,000)	–
80CCD(2)	Employer’s contribution to NPS account	Maximum up to 10% of salary
80CCD(1B)	Additional contribution to NPS	Rs. 50,000
80TTA(1)	Interest Income from Savings account	Maximum up to 10,000
80GG	For rent paid when HRA is not received from employer	Least of rent paid minus 10% of total income Rs. 5000/- per month 25% of total income
80E	Interest on education loan	Interest paid for a period of 8 years
80EE	Interest on home loan for first time home owners	Rs 50,000
80CCG	Rajiv Gandhi Equity Scheme for investments in Equities	Lower of – 50% of amount invested in equity shares or Rs 25,000
80D	Medical Insurance – Self, spouse, children Medical Insurance – Parents more than 60 years old or (from FY 2015-16) uninsured parents more than 80 years old	Rs. 25,000 Rs. 30,000
80DD	Medical treatment for handicapped dependant or payment to specified scheme for maintenance of handicapped dependant Disability is 40% or more but less than 80% Disability is 80% or more	Rs. 75,000 Rs. 1,25,000
80DDB	Medical Expenditure on Self or Dependent Relative for diseases specified in Rule 11DD For less than 60 years old For more than 60 years old For more than 80 years old	Lower of Rs 40,000 or the amount actually paid Lower of Rs 60,000 or the amount actually paid Lower of Rs 80,000 or the amount actually paid
80U	Self suffering from disability: Individual suffering from a physical disability (including blindness) or mental retardation. Individual suffering from severe disability	Rs. 75,000 Rs. 1,25,000
80GGB	Contribution by companies to political parties	Amount contributed (not allowed in cash)
80GGC	Contribution by individuals to political parties	Amount contributed (not allowed in cash)
80RRB	Deductions on Income by way of Royalty of a Patent	Lower of Rs 3,00,000 or income received

Income or loss on House Property – Section 24 of Income Tax Act 2017 (Income Tax Exemption on interest paid on Housing Loan)

Consequent upon enactment of Finance Act 2017, the maximu limit of interest paid house property has been capped at Rs.2 lakh, whether or not the house is self occupied or rented out. Earlier if the house property is Rented out, there was no maximum limit in deducting interest paid on housing loan from the income of the tax payer.

List of Exempted Income under Section 10 of Income Tax Act (Subject to certain conditions

1. Agriculture Income [Section 10(1)]
2. Perquisites and Allowances paid by Government to its Employees serving outside India [Section 10(7)]
3. Gratuity [Section 10(10)]
4. Commuted value of pension received [Section 10(I0A)]
5. Amount received as leave encashment on retirement [Section 10(10AA)]
6. Retrenchment compensation paid to workmen [Section 10(10B)]
7. Retirement Compensation from a Public Sector Company or any other Company [Section 10 (10C)]
8. Income by way of tax on perks [Section 10(10CC)]
9. Any sum received under a life insurance policy [Section 10(10D)]
10. Payment from Statutory Provident Fund [Section 10(11)]
11. Payment from Recognised Fund [Section 10(12)]
12. Payment from Superannuation Fund [Section 10(13)]
13. House Rent Allowance [Section 10(13A) Read with Rule 2A]
14. Scholarship [Section 10(16)]
15. Pension received by certain winners of gallantry awards [Section 10(18)]
16. Family pension received by family members of armed forces including para military forces [Section 10(19)]

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