Extension of due date of furnishing of Income Tax Returns and Audit Reports In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 which, […]
The base year of price index numbers will be revised at frequent intervals, generally not exceeding 10 years to reflect the changes that take place in the consumption pattern of consumers. It is primarily used to regulate the dearness allowance of government employees and the workers in the industrial sectors. It is also used in fixation and revision of minimum wages in scheduled employments besides measuring the inflation in retail prices. The new index will assign more weight to spend on services such as education, healthcare, housing, travel and transportation, as spending on these items have gone up, as compared to primary items such as food.
Central autonomous body employees request the Hon’ble Finance Minister’s personal intervention in this case , so that instructions will be issued to all Ministries to restore Bonus to Autonomous body Employees with immediate effect. Action may also be taken to grant arrears of eligible Bonus from 2015 -16 onwards. so the government should fix a date to resolve the long-standing issue of the employees.
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi, has given its approval to pay Productivity Linked Bonus (PLB)for the year 2019-2020 to 16.97 lakh non-gazetted employees of commercial establishments like Railways, Posts, Defence, EPFO, ESIC,etc.will be benefitted and the financial implication would be Rs.2,791 crore.
Ministry of Labour and Employment is going to release new series of Consumer Price Index for Industrial workers (CPI-IW) with 2016 as base year on 21st October, 2020.
Granting advance to Government servant from the railway board dated 16th october 2020.