Tuesday, 31 July 2018
RATES OF INCOME-TAX AS PER FINANCE ACT, 2017
RATES OF INCOME-TAX AS PER FINANCE ACT, 2017
As per the Finance Act, 2017, income-tax is required to be deducted under Section 192 of the Act from income chargeable under the head "Salaries" for the financial year 2017-18 (i.e. Assessment Year 2018-19) at the following rates:
2.1 Rates of tax
A. Normal Rates of tax:
| SI.No | Total Income | Rate of tax |
|---|---|---|
| 1 | Where the total income does not exceed Rs. 2,50,000/-. | Nil |
| 2 | Where the total income exceeds Rs. 2,50,000/- but does not exceed Rs. 5,00,000/-. | 5 per cent of the amount by which the total income exceeds Rs. 2,50,000/- |
| 3 | Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. | Rs. 12,500/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
| 4 | Where the total income exceeds Rs. 10,00,000/-. | Rs. 1,12,500/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
B. Rates of tax for every individual, resident in India, who is of the age of sixty years or more but less than eighty years at any time during the financial year:
| SI No | Total Income | Rate of tax |
|---|---|---|
| 1 | Where the total income does not exceed Rs. 3,00,000/- | Nil |
| 2 | Where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000/- | 5 per cent of the amount by which the total income exceeds Rs. 3,00,000/- |
| 3 | Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/- | Rs. 10,000/- plus 20 per cent of the amount by |
| which the total income exceeds Rs. 5,00,000/-. | ||
| 4 | Where the total income exceeds Rs. 10,00,000/- | Rs. 1,10,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
C. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:
| SI No | Total Income | Rate of tax |
|---|---|---|
| 1 | Where the total income does not exceed Rs. 5,00,000/- | Nil |
| 2 | Where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000/- | 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/- |
| 4 | Where the total income exceeds Rs. 10,00,000/- | Rs. 1,00,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
2.2 Surcharge on Income tax:
The amount of income-tax computed in accordance with the preceding provisions of this Paragraph, or the provisions of section 111A or section 112 of the Act, shall, in the case of every individual or Hindu undivided family or association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii) of clause (31) of section 2 of the Act, will be as under:
(a) having a total income exceeding fifty lakh rupees but not exceeding one crore rupees, at the rate of ten percent of such income-tax and
(b) having a total income exceeding one crore rupees, at the rate of fifteen percent of such income-tax:
Provided that in the case of persons mentioned above having total income exceeding;-
(a) Fifty lakh rupees but not exceeding one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of fifty lakh rupees by more than the amount of income that exceeds fifty lakh rupees;
(b) one crore rupees, the total amount payable as income-tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees.
2.3.1 Education Cess on Income tax:
The amount of income-tax including the surcharge if any, shall be increased by Education Cess on Income Tax at the rate of two percent of the income-tax.
2.3.2 Secondary and Higher Education Cess on Income-tax:
An additional education cess is chargeable at the rate of one percent of income-tax including the surcharge, if any, but not including the Education Cess on income tax as in 2.3.1.
Income Tax Calculation For House Rent Allowance – U/s 10 (13A)
Illustrative calculation of House Rent Allowance U/s 10 (13A) in respect of residential accommodation situated in Delhi in case of an employee below the age of sixty years (With valid PAN furnished to employer).
COMPUTATION OF TOTAL INCOME AND TAX PAID THEREON
| S.NO. | PARTICULARS | RUPEES |
|---|---|---|
| 1 | Salary | 7,00,000 |
| 2 | Bonus | 1,40,000 |
| 3 | Free gas, electricity, water etc. (Actual bills paid by company) | 40,000 |
| 4(a) | Flat at concessional rate (for tenmonth). @Rs.36000/month | 3,60, 000 |
| 4(b | Hotel rent paid by employer (for two month) | 1,00,000 |
| 4(c) | Rent recovered from employee. | 60,000 |
| 4(d) | Cost of furniture. | 2,00,000 |
| 5 | Subscription to Unit Linked Insurance Plan | 50,000 |
| 6 | Life Insurance Premium | 10,000 |
| 7 | Contribution to recognized P.F. | 42,000 |
| S.NO. | PARTICULARS | RUPEES | |
|---|---|---|---|
| 1 | Salary | 7,00,000 | |
| 2 | Bonus | 1,40,000 | |
| 3 | Total Salary(1+2) for Valuation of Perquisites | 8,40,000 | |
| VALUATION OF PERQUISITES | |||
| 4(a) | Perquisite for flat: Lower of (15% of salary for 10 months=Rs.1,05,000/-) and (actual rent paid= Rs 3,60,000) i.e. Rs. 1,05,000 | | |
| 4(b) | Perquisite for hotel : Lower of (24% of salary of 2 months=Rs 33,600) and (actual payment= Rs 1,00,000) i.e. Rs 33,600 | ||
| 4(c) | Perquisites for furniture(Rs.2,00,000) @ 10% of cost Rs. 20,000 | ||
| 4(c)(i) | Total of [4(a)+(b)+(c)] (1,05,000+ 33,600+ 20,000)Rs.158,600 Less: rent recovered (-)Rs 60,000 = 98600 | ||
| 4(d) | Add Perquisite for free gas, electricity, water etc. Rs.40,000 (+) Rs 98,600 [4(c)(i)] = Rs1,38,600Total perquisites | ||
| 5 | Gross Total Income (Rs.8,40,000+ 1,38,600) | 9,78,600 | |
| 6 | GROSS TOTAL INCOME | 9,78,600 | |
| 7 | Less: Deduction U/s 80C: (i). Provident Fund (80C) 42,000 (ii). LIC (80C) | ||
| :10,000 (iii). Subscription to Unit Linked Insurance Plan(80C) :50,000/- Total x 1,02,000 Restricted to Rs 1,02,000 u/s 80C | 1,02,000 | ||
| 8 | Total Income | 8,76,600 | |
| 9 | Tax Payable | 87,820 | |
| 10 | Add: | ||
| (i).Education Cess @2% | 1756 | ||
| (ii). Secondary and Higher Education Cess @1% | 878 | ||
| 11 | Total Income Tax payable | 90,454 | |
| 12 | Rounded off to | 90,450 | |
No.Confdn/Genl/2016-19 Dated 28-07-2018.
To
1. All National Secretariat Members,
2. All Affiliated organisastions
3. All State C-O-Cs.
IMPORTANT/URGENT
1. 05th September 2018 - Mass Rally at New Delhi - Intensify Mobilisation and ensure Maximum Participation of Employees as per Quata fixed:
Campaign for making the 15th November 2018 strike a thundering success has started in all states. Affiliated organisations are also conducting department wise campaign and mobilisation. State/District level conventions are to be completed before 15-08-2018. Copy of the memorandum to be submitted to people’s representatives will be published in the Confederation website during the 1st week of August 2018. During the month of August, copy of the memorandum should be submitted to all MPs/MLAs, Chief Ministers etc. by personally meeting them, with a delegation of Confederation leaders. They may be requested to write a letter to Prime Minister and also raise questions in the Parliament. 3rd phase of our campaign programme is Mass Dharna at all District Headquarters/Divisions on 21st August 2018 Tuesday. All are requested to start advance preparation for making the 21st August dharna a grand success. All affiliated organisations/C-O-Cs are requested to issue instructions to their lower units/affiliates to organise the dharna programme with maximum participation of employees. Fourth phase of struggle programme is Mass Rally at New Delhi on 5th September 2018. Please instruct those delegates participating in the rally to book their travel tickets without any further delay. All are requested to bring maximum banners, placards and flags to the rally. More banners and placards with demands like “SCRAP NPS. RESTORE OLD PENSION SCHEME TO ALL” may be brought. Quota already fixed and communication already sent to all concerned is attached as Annexure to this circular again.
2. All India Women’s Study Camp and Convention at Haridwar on 29th & 30th October 2018.
All India Women’s Study Camp will be held at Haridwar on 29th and 30th October, 2018. C-O-C Uttar Pradesh State has agreed to host the camp. Delegate fee is fixed as Rs.800/- (Rs. Eight hundred only) per delegate. Accomodaion will be provided from 28th October Afternoon to 31st October 06.00 AM. Food will be provided only on 29th and 30th. As Haridwar and Hrishikesh are world famous tourist/pilgrim centres, there will be heavy rush of tourists during the period. All affiliates/C-O-Cs are requested to instruct the lady delegates to book their travel tickets immediately. Three months time is there, but ticket booking should be given topmost priority. Quota fixed for each affiliated organisation and C-O-C is furnished below:
Sl. Name of affiliate/C-O-C No.of delegates
1. National Federation of Postal Employees
and all its affiliates (NFPE) 80
2. Income Tax Employees Federation (ITEF) 25
3. All India Audit & Accounts Association 15
4. All India Civil Accounts Employees Association 15
5. National Federation of Atomic Energy Employees
(NFAEE) 10
6. All india Central Ground Water Board Employees
Association (AICGWBEA) 5
7. Geological Survey of India Employees Association
(GSIEA) 5
8. All other affiliated organisations 3 each
(minimum)
9. C-O-C Delhi State 15
10. C-O-C UP State 15
11. C-O-C West Bengal 20
12. C-O-C Kerala 20
13. C-O-C Tamilnadu 15
14. C-O-C AP & Telangana 15
15. C-O-C Karnataka 10
16. C-O-C Maharashtra 10
17. C-O-C Odisha 5
18. C-O-C Assam & NE 5
19. All other C-O-Cs 3 each
(minimum)
Affiliates/C-O-Cs are requested to allote quota to their units/organisations immediately so that ticket booking can be done without delay.
For all enquiries and necessary help in connection with the camp the following comrades may be contacted.
1. Com.Virendra Tiwari, Chairman, C-O-C, UPState: 09839195933
2. Com.J.P.Singh, General Secretary, C-O-C, UP State: 08005445445
As it is not possible to hold a separate Women’s Convention again this year, on 30th October 2018 (Second day), All India Women’s Convention will also be held along with the Camp and new office bearers and Women’s Sub Committee members will be elected.
3. 2018 September 19th - 50th Year of 1968 September 19th Strike - Organise Martyrs Day in a befitting manner:
2018 September 19th is the 50th Anniversary day of historic 1968 September 19th strike of the Central Govt. Employees. The main demand raised was “Need Based Minimum Wage” approved by the 1957 Fifteenth Indian Labour Conference which was formulated based on Dr. Wallace Aykroid’s Formula. The Central Government banned the strike declaring it illegal. Essential Service Maintenance Ordinance was promulgated. Militry, Para-military and Police forces were deployed to crush the strike. Firing took place at many places. 17 (Seventeen) comrades were brutally killed. About 40000 suspended and terminated from service. Many leaders and cadres arrested and jailed. Thousands chargesheeted and transferred. Inspite of all these repressive measures, the strike was cent percent success all over the country. The struggle to vacate victimisations continued for years. We are commemorating the 50th year of the historic strike, when the Confederation of Central Govt. Employees & Workers are in the midst of mobilisation and campaign to make the 2018 Noember 15th strike a grand success. Let us draw inspiration from the sacrifice of those who were victimised in the 1968 strike, especially from the great martyrdom of those comrades who laid down their lives for the working class of our country and for the posterity.
Confederation National Secretariat calls upon all the affiliated organisastions and C-O-Cs to organise the 2018 September 19th Matrys day at all centres, by organising seminars, General Body meetings,Flag hoisting, homage to matrys, honouring of 1968 strike victimised employees and leaders and other programmes, if possible jointly with other fraternal organisastion. The history and significance of 1968 September 19th strike should reach each and every member of our affiliated organisations. The importance of the fight against the anti-labour neo-liberal policies pursued by the Central Government and the need to make 2018 November 15th strike a grand success may also be explained and emphasised.
Fraternally Yours,
M. Krishnan,
Secretary General,
Mob: & WhatsApp: 09447068125
Email: mkrishnan6854@gmail.com
2018 NOVEMBER 15TH NATION WIDE ONE DAY STRIKE OF
CENTRAL GOVT. EMPLOYEES
CONFEDERATION - PROGRAMME OF ACTION
(approved by the National Convention held at Hyderabad on 10-06-2018)
I. 2018 July 1st to August 14th
State/District level conventions.
2. 2018 August 15th to 31st
Submission of memorandum to all MPs, MLAs, Chief Ministers etc. seeking their intervention for settlement of demands. (Draft copy of the memorandum will be exhibited in confederation website: www.confederationhq.blogspot.com after 31st July 2018)
3. 21st August 2018 - Tuesday
Mass dharna at all District headquarters.
4. 5th September 2018 - Wednesday
Mass rally at New Delhi. (Quota of employees to be mobilised and participated in the Mass Rally by each affiliate and C-O-C will be published seperately within two days).
5. 10th October 2018 - Wednesday
Serving of strike notice at all levels with mass demonstrations.
6. 17th October 2018 - Wednesday
Raj Bhavan March at all State Headquarters or March to an important Central Govt. office situated in the state capital.
7. 3rd October to 10th November 2018
State/District wise Compaign programme of National leaders of confederation and its affiliates. (seperate circular will be issued mentioning places and name of leaders)
8. 2nd November 2018 - Friday
Mass Hunger Fast at all levels.
9. 15th November 2018 - Thursday
Nationwide one day strike.
In addition to the above compaign programmes each affiliate of confederation should chalk out their own department wise compaign programmes covering all states.
2018 NOVEMBER 15TH NATION WIDE ONE DAY STRIKE OF
CENTRAL GOVT. EMPLOYEES
10 POINTS CHARTER OF DEMANDS OF CONFEDERATION
(adopted by the National Convention held at Hyderabad on 10-06-2018)
1. Scrap New Contributory Pension Scheme. Restore old defined benefit Pension Scheme to all employees.
2. Settle 7th CPC related issues including increase in Minimum Pay and fitment formula, HRA arrears from 01-01-2016, MACP Bench Mark, promotional heirarchy and date of effect from 01-01-2006, Option-I for pensioners and anomalies arising out of implementation of 7th CPC recommendations.
3. Fill up all vacant posts. Reintroduce Regional Recruitment for Group B & C posts. Withdraw orders for abolishing posts lying vacant for more than five years. Revive all posts abolished during 2001 to 2008 under Annual Direct Recruitment plan as per May 2001 orders of former NDA Government.
4. (a) Regularisatin of Gramin Dak Sevaks and grant of Civil Servant status. Implement remaining positive recommendations of Kamalesh Chandra committee report.
(b) Regularise all casual and contract workers including those appointed on or after 01-09-1993.
5. Ensure equal pay for equal work for all. Remove disparity in pay scales between Central Secretariat Staff and similarly placed staff working in field units of various departments.
6. Stop closure of Govt. establishments and outsourcing. Withdraw closure orders of Govt. of India Presses. Stop proposed move to close down salt department. Stop FDI and privatisation of Railways and Defence department.
7. Implement 7th CPC wage revision and pension revision of Autonomous body employees and pensioners. Grant Bonus to Autonomous body employees pending from 2016-17 onwards.
8. Remove 5% condition imposed on compassionate appointment.
9. Grant five time bound promotions to all Group B&C employees. Complete Cadre Reviews in all departments within a time-frame.
10. (a) Stop attack on trade union rights. Ensure prompt functioning of various negotiating forums under the JCM scheme at all levels.
(b) Withdraw the draconian FR-56(j) and Rule 48 of CCS Pension Rules 1972.
If necessary, affiliates can add their own departmental wise issues as PART-II of the charter of demands.
CONFEDERTION OF CENTRAL GOVERNMENT EMPLOYEES & WORKERS CENTRAL HEADQUARTERS
IST FLOOR, NORTH AVENUE POSTOFFICE BUILDING, NEW DELHI-110001
No.Confdn/2016-19 Dated 28-06-2018.
* SCRAP NPS. RESTORE DEFINED BENEFIT OLD PENSION SCHEME (OPS) FOR ALL EMPLOYEES.
* SETTLE 10 POINTS CHARTER OF DEMANDS OF CONFEDERATION.
NATIONWIDE ONE DAY STRIKE ON 15-11-2018
MASS RALLY AT NEW DELHI
ON 05TH SEPTEMBER 2018
CENTRAL GOVT. EMPLOYEES, STATE GOVT. EMPLOYEES, PUBLIC SECTOR EMPLOYEES AND OTHER CLASS AND MASS ORGANISATIONS WILL PARTICIPATE.
Dear Comrades,
Please refer to the Confederation Circular dated 25-06-2018 wherein the Resolution & declaration, Programme of action and charter of demands adopted in the 10th June 2018 National Convention of Central Govt. Employees are published. A very big mass rally will be organised at New Delhi on 05-09-2018 along with State Government employees, Public sector employees and other class and mass organisations. Quota fixed for each affiliate and C-O-Cs are furnished below. Regarding accommodation etc. for the participants in the rally, each organisation/C-O-C shall make their own arrangements. Up and down travel tickets of the participants should be booked well in advance. As State Govt. Employees etc. are also participating in the rally, it will be difficult to get confirmed tickets in the last minute. All affiliates and C-O-Cs are requested to finalise the delegates of each unit and first priority may be given for booking tickets. For any help at New Delhi, C-O-C, Delhi State Committee may be contacted.
1. Com. Vrigu Bhattacharjee 09868520926
General Secretary, C-O-C. 09013163804
2. Com. Giriraj Singh 09811213808
President, C-O-C.
Sl. Name of affiliated organisation/C-O-C No.of employees - quota fixed
for mobilising and
participating in the rally.
1. National Federation of Postal Employees
(NFPE) 5,000
2. Income Tax Employees Federation (ITEF) 1,000
3. All India Audit & Accounts Association 500
4. All India Civil Accounts Employees Association 500
5. National Federation of Atomic Energy
Employees (NFAEE) 300
6. All India Central Ground Water Board
Employees Association (AICGWBEA) 300
7. Geological Survey of India Employees
Association (GSIEA) 200
8. All other affiliated organisations 100 each
9. C-O-C Delhi 500
10. C-O-Cs UP 800
11. C-O-C West Bengal 300
12. C-O-C Kerala 150
13. C-O-C Tamilnadu 200
14. C-O-C AP & Telangana 300
15. C-O-C Karnataka 200
16. C-O-Cs Maharashtra 300
17. C-O-C Odisha 150
18. C-O-C Assam & NE 200
19. All other state C-O-Cs 100 each
All affiliates are requested to allote quota to their lower units immediately. Please instruct all units to book tickets immediately.
Fraternally Yours,
M. Krishnan
Secretary General,
Confederation.
Mob.& Whats App: 09447068125
Email: mkrishnan6854@gmail.com
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