The Finance Ministry has informed that the Central Board of Secondary Education (CBSE) has been exempted from income tax on income from examination fees, sale and publication of textbooks and other works. CBSE has got income tax exemption from the previous date. This exemption has been given for the financial year 2020-21 (June 1, 2020 to March 31, 2021) and for the financial years 2021-22 and 2022-23. The exemption will continue in the current financial year and the next financial year 2024-25 as well.

The Central Board of Direct Taxes (CBDT) said in a notification that the government has notified the Delhi-based Central Board of Secondary Education under section 10(46) of the Income Tax Act and exempted it from payment of income tax on its assessed income. CBSE has been formed by the central government.

There are many types of fees involved.

Let us tell you that such income includes examination fees, fees associated with CBSE, sale of text books and publications, registration fees, sports fees and training fees. In addition, the amount received from CBSE projects/programmes, interest on income tax refund and interest earned on such income will be exempt from income tax.

What is the condition for tax exemption

According to CBDT, tax exemption is subject to the condition that CBSE will not engage in any commercial activity and the nature of the prescribed income will not change throughout the financial year.

Will get benefit in income tax return

Om Rajpurohit, joint partner (corporate and international tax) of AMRG & Associates, said that the current notification is for a limited period. This last date is from June 1, 2020 to the financial year 2024-25. In view of this, CBSE can apply to CBDT for special permission to revise the income tax returns of previous years and can claim ‘refund’ of the tax paid on the assessed income.

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While there have been changes in the income tax regime, there have also been changes in the income tax slabs. Along with this, the income tax exemption limit has also been increased in the new tax regime. At the same time, the government has also told about the deadline for filing income tax return, about which everyone should take care.

Income tax return

On the other hand, if you miss the deadline for filing Income Tax Return (ITR) for the financial year 2022-23, you may face problems. At the same time, the last date for filing income tax return for the financial year 2022-23 is 31 July, while the new financial year 2023-24 has started from 1 April.

Timely filing of income tax return is an essential responsibility of every taxpayer. It is a legal obligation and failure to comply with it can lead to various consequences including financial penalties and legal actions.

If the taxable income fails to file the income tax return till July 31, then if the date for filing the income tax return is not extended by the government, then the penalty will have to be paid for filing the income tax return. If your income is taxable and you file your income tax return after July 31, then you will have to pay a penalty.

Income Tax Return

Many people completely avoid filing income tax return because they find the process cumbersome. In contrast, because the ITR is filed with the government and used as legal evidence, the income tax return carries significant legal weight. As filing income tax return is an important part of being a good citizen, it is a moral necessity of every working Indian. In such a situation, income tax return should be filed on time.

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Along with the announcement of this allowance, the government has also issued a notification. This allowance is given to pensioners and employees to provide relief from inflation.

The West Bengal government on Friday issued a notification to give Dearness Allowance (DA) at the rate of six per cent of basic pay to employees, pensioners and family pensioners, which will be effective from March 1. This increase has been done under the 6th Pay Commission. According to the government’s notification, the 6 per cent hike in DA is due to a total of 3 per cent announced in December 2020 and 3 per cent announced in January 2021.

How will dearness allowance be calculated?

Information has also been given in the notification that how the dearness allowance will be calculated. The calculation of DA will be done according to the revised basic pay and non-allowance. If there is no other allowance then the basic pay and DA will be calculated. This increased DA will be applicable to teachers and other employees of government-aided institutions as well as employees of local bodies.

On the other hand, in the case of pension, it will be the responsibility of the pension disbursing authority to calculate the amount of dearness relief on the revised pension and allocate the amount of pension amount in each individual case.

DA is less than the central government

A state government employee said that even after this increase, the DA given to its employees by the central government would be 32 percent less. Many organizations of state government employees are demanding DA equalization with the Center. In the beginning of this week itself, ignoring the warning of action, he did a 48-hour ‘pen down’ movement.

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Along with this, the government has told that you will get LPG cylinder for just Rs 500 and you will also get the benefit of free electricity up to 100 units.

The Gehlot government released the relief package

, let us tell you that after the central government, the state governments are also releasing the budget. Rajasthan Chief Minister Ashok Gehlot has announced an inflation relief package of Rs 19,000 crore next year to provide relief to the people. In this, along with free food packets, free electricity will also be available.

Along with this, Gehlot has announced to increase the cover amount from Rs 10 lakh to Rs 25 lakh annually in his ambitious ‘Chiranjeevi Swasthya Bima Yojana’ health insurance scheme for the public . Chief Minister Ashok Gehlot has made this announcement while presenting the budget for the financial year 2023-24.

Lentils, sugar and salt will also be available free of cost.

He has said that I announce free Chief Minister Annapurna Food Packets every month along with free ration for the coming year to about one crore families coming under the purview of the National Food Security Act. . In this packet, one kilogram of pulses, sugar and salt and one liter of edible oil will be made available. About Rs 3,000 crore will be spent on this.

76 lakh families will get gas cylinder for Rs 500.

He has announced to make LPG gas available for Rs 500 from next year to about 76 lakh families of low income group included in BPL and Pradhan Mantri Ujjwala Yojana. Rs 1,500 crore will be spent on this.

Will get 100 units of free electricity

Gehlot has said that domestic consumers will be given 100 units of electricity per month free of cost under the Chief Minister’s free scheme. Earlier this limit was 50 units. With this, more than 1.04 crore families out of 1.19 crore in the state will be able to get domestic electricity free of cost. For this, a burden of Rs 7,000 crore will have to be borne.

Many facilities will be available Gehlot has said that it is our aim to provide free electricity to domestic users who consume 300 units per month in a phased manner. We will continue the exemption of about Rs 7,500 crore by reducing VAT applicable on diesel and petrol. He has said that an inflation relief package of more than Rs 19,000 crore is proposed to be given for cheap LPG cylinders and free domestic electricity in the coming year.

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Today we will tell you about such a facility, under which now senior citizens will be able to travel by air for free. After the discount given by the Railways, now the facility of free travel in flight is available.

Let us tell you that the state government has started the facility , along with the center, many types of facilities are also provided by the state government. Madhya Pradesh Chief Minister Shivraj Singh Chouhan has started a special facility for senior citizens, in which they are being given the facility to travel by air.

The Chief Minister made the announcement

Giving information, the CM of the state has said that the senior citizens of the state will have the option of going on pilgrimage by air from next month. The Chief Minister made this announcement on the occasion of the birth anniversary of Saint Ravidas in Bhind and the launch of development journey of Chambal division.

You can travel on government expenses, let us tell you that many places have been included in this pilgrimage scheme. The birthplace of Saint Ravidas has also been included in this. Explain that under this Teerth Darshan Yojana, senior citizens above 60 years of age can travel to pilgrimage places at government expense.

The state government is upgrading, along with this, the Chief Minister of the state informed that at present there is a municipal council in Bhind. The state government is working on upgrading it as a municipality. Along with this, the city will also get a medical college. The CM said that the ‘Vikas Yatra’ would go to all wards and villages of the state and provide benefits of government schemes to eligible people, while also inaugurating and laying foundation stones of developmental projects.

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