4) Changes on HRA
-Current HRA exemption is not a good one.
-Nowadays living in rental houses're really terrible experience. Particularly in City. You have to pay more $$$$. Most people forcing themselves into buying own houses to move quickly.
-Most salaried class people fills HRA form with unrealistic rent amount to claim more exemption so they could save some money by reducing tax. That's sad. Government should increase the exemption amount by changing HRA exemption calculation.
New Delhi: Income Tax officials on Friday raided an Axis Bank branch in the national capital and identified at least 44 fake bank accounts. According to reports, the accounts did not follow KYC norms and old notes worth Rs 100 crore were deposited in them.
*Digital Benefits Just Annouced by FM Arun Jaitley vis Press conference*: Railway tickets booked online will get 10 lakhs insurance cover free (Currently charge of Rs.0.92 per person will be waived if made digital payments) One lakh villages with population less than 10,000 to get 2 PoS machines free,supported through financial inclusion fund: Govt will support RRBs,Cooperative Banks through NABARD to issue “Rupay Kisan Cards” to 4.32 cr Kisan Credit Card holders Monthly and seasonal tickets for suburban railways to offer 0.5% discount on digital payments This is effective from Jan 1, 2017, starting from the Mumbai suburban railways Railways to provide a discount of 5% for digital payment of paid services offered through its affiliates: *Big One* : General insurance or Life insurance bought online and paid by Digital payment will get discount of 10% and 8% respectively Petrol diesel cheaper by 0.75% , if payment digital
Take chances, make mistakes, learn, laugh, love, live, succeed, prosper, and most importantly persevere. For every man dies but not every man truly lives...
There is no official coronation ceremony held to declare the lion as the king of the jungle.........Prerak Patel (SQOTD - 19/09/11)
1. This is to remove the black Money. - RBI declared 83% of the old notes has been deposited till now. So where is the so called black money. 2. This is to stop terror and large hoarding of money - Recent terror attacks showed them having new 2000 Notes when rest of Indians are struggling to convert it. Various raids show large cash with new notes. 3. This is to make India cashless economy. - You need to provide the infrastructure to support it and has to be from bottom to top and not other way around and should be complete chain 4. Latest statement is they have been successful in bringing small cash from household inside banking system. So now loans will be cheaper - So we take money from poor so that upper middle class and others have cheap loan.
What is govt response to loss of people due to this. A simple apology would have been atleast made things more humane. The RBI and govt need to decide the deadline and remain fixed on it. You never know when and where rules are changed.
Eg. My father is a farmer, so he wanted to buy seeds form the Govt warehouse - No problem The total cost of the purchase 6850 INR - Little problem to arrange so postponed by few days as he needed the new notes Govt says use cards and e wallet - Big problem . Unfortunately even govt department don't have facility Govt says old notes can be used for buying grains - No problem. ready to buy. Need to hire an small auto to transporting Cost 330 INR - Big problem Need to hire one laborer Cost 100 INR - Big problem.
This is just an example how it affects a single activity of starting the farming now. This is similar to when trying to buy vegetables from local shop. My mom buys on daily basis or twice in week as its the norm in villages and small town. No way to use plastics. To buy vegetables, we have to travel 15 km to super market and get vegetables on higher price.
Demonetization is easy in city and with all the facility but its not the case when you interior..
And yet if you oppose the implementation, we are called anti-national and what not
------------------------------------------ Too much of good is bad,mix some evil in it