The Kerala High Court on Tuesday made it clear that government employees can't legally demand pay revision every five years. HC said the government appoints pay revision commission not on the basis of any rule and if the government appoints the commission each year, that does not mean that it's a right of the government employees, said justice TR Ramachandran Nair . He said recommendations of the commission would be implemented as per government wish. It would be implemented based on the financial condition of the government. If that is not implemented then it cannot be said as against constitution. The [...]
Preparation for budget is in progress. The Govt. is planning to enhance the tax slabs for the individual taxpayers. According to a PTI report, the basic exemptiom limit is likely to be enhanced from 1.8 lac to 2 lac. Income between 2 to 5 lac will be taxed @ 10%, 5 to 10 lac @ 20% and more than 10 lac @ 30 % for the Financial Year 2012 - 13. The present rate for F.Y. 2011-12 is 1.8 lac to 5 lac @10%, 5 to 8 lac @20% and above 8 lac @30%.