Finance Act 2014 has made following changes relating to determination of Income Tax payable by Salaried Employees:
1. Taxable Income eligible for full exemption from income tax increased from Rs. 2 lakh to Rs. 2.5 lakh
2. Additional deduction of Rs. 50,000 under Section 80 C, CCC, CCD(1): Deduction allowed under Section 80C, 80CCC, and Section 80 CCD(1) for savings/investments, premium for annuity / pension fund and employee contribution to NPS respectively has been increased to Rs. 1.5 lakh from Rs. 1 lakh (Section 80CCE Limit)
3. Income Tax exemption on Interest paid on housing loan under Section 24 of the Income Tax Act increased from Rs. 1.5 lakh to Rs. 2 lakh
4. In addition to above three new changes, Income Tax Rebate of Rs. 2000 for taxable income up to Rs. 5 lakh continues this year also under Section 87A of Income Tax Act
NOTE: "Finance Act 2013 provided relief in the form of rebate to individual taxpayers, resident in India, who are in lower income bracket, i. e. having total income not exceeding Rs 5,00,000/-. The amount of rebate is Rs 2000/- or the amount of tax payable, whichever is lower. This rebate is available for A.Y. 2015-16 and subsequent assessment years." Download the Income tax Calculation Software
Sub:- School Education - Rationalization Transfers, 2015 - Headmasters and Teachers-Work Adjustment of Surplus Teachers - Reg.
1. G.O.Ms.No.63 Edn., (Ser.Ii) Department, Dated:31.08.2015.
2. G.O.Ms.No.66 Edn., (Ser.II) Department, Dated:02.09.2015.
3. CSE Procs. Rc.No.25/Estt-111/2015, Dated:03.09.2015, 09.09.2015 and 10.09.2015
4. Video conference held on 11.09.2015 and 12.09.2015.
5. CSE Proc.Rc.No.25/Estt-111/2015, Dated:12.09.2015,
6. CSE Proc.Rc.No.25/Estt-111/2015,16.09.2015
7. CSE Proc.Rc.No.25/Estt-111/2015, 22.09.2015
8. CSE Proc.Rc.No.25/Estt-111/2015,26-10-2015
9. CSE Pro.RC No. 25/Estt-111/2015 dated: 02-12-2015.
10. CSE Pro.RC No. 25/Estt-111/2015 dated:17-12-2015.
11. G.O.Ms.No.82 School Education (Prog.11) Department, Dated:29.10.2015.
12. CSE Proc.Rc.No.25/Estt-111/2015, Dated:Ol.01.2016.
13. Govt. Memo.No.116957 /Ser.il/Al/2015 School Education (Ser.II) Department, Dated:ll.01.2016.
14. This Office Lr.Rc.No.25/Estt-111/2015, Dated:20.0l.2016 addressed to Govt.
15. Govt. Memo.No. 116957/Ser.ll/Al/2015 School Education (Ser.II) Department, Dated:30.0l.2016.
In continuation to this office proceedings in the reference 12•h cited, a copy of the Government Memo in the reference is" read above is herewith communicated to all the Regional Joint Directors of School Education and District Educational Officers in the State.
They are requested to take further action on work adjustment of surplus teachers within the Manda I and submit report of surplus teachers of with details of teacher adjusted and not adjusted within the Mandal.
They are also requested to ensure that the work adjustment exercise does not disturb 10th class instruction.