Taxpayers and tax experts have been demanding for the last several years to increase the limit of Section 80C. Not only this, in the Pre-Budget 2023 recommendation, ICAI had suggested the government to increase the deduction for Public Provident Fund (PPF) under Section 80C from Rs 1.5 lakh to Rs 3 lakh.

July 31 was the last date to file ITR

Now that the last date for filing ITR has been completed on July 31, the situation has been cleared by the government regarding increasing the limit of 80C. According to the Finance Ministry, there is no proposal under consideration to increase the exemption limit under Section 80C of the Income Tax Act, 1961. At present, annual investment up to Rs 1.5 lakh in various tax saving schemes such as home loan and life insurance policy is eligible for deduction under section 80C.

Proposal to increase exemption under 80C not under consideration

Tax saving schemes for deduction under section 80C include PPF, EPF, NSC, NPS, SCSS, 5 year FD in banks and post office, ELSS Mutual Fund etc. . As such, there is no proposal under consideration to increase the exemption under section 80C of the Income Tax Act, Union Minister of State in the Ministry of Finance Pankaj Chowdhary said in a written reply to a question in the Lok Sabha on July 31.

The Minister of State for Finance was responding to a question ‘whether the government has recognized the need to streamline small savings schemes and simplify and enhance exemption under section 80C of the Income Tax Act in view of the changing economic environment and interest rate scenario. Have done. Let us tell you that in the year 2023-24, a record 6.77 crore ITRs have been filed.

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Rental discount

Tourists will now be given a discount in hotel rent by the Himachal Pradesh government. Himachal Pradesh Tourism Development Corporation (HPTDC) announced up to 50 percent discount on hotel room rents. Earlier, the state government had evacuated more than 70,000 tourists stranded in landslides and floods due to heavy rains to safer places.

Landslides and floods

Due to heavy rains, landslides and floods are being seen in Himachal Pradesh. Meanwhile, for the convenience of the tourists, an attempt has been made by the government to give them a discount in hotel rent, so that the tourists can get relief. In such a situation, thanks are being given by the tourists for this initiative of the government. A spokesperson of the corporation said in a statement that this exemption on hotels operated by HPTDC will be effective till September 15. He said that by giving such a huge discount, HPTDC is trying to improve the experience of the visitors.

Decline in the number of tourists

In fact, due to the rains in Himachal, there has been a decline in the number of tourists. MK Seth, president of the Tourism Industry Stakeholders Association, said that after heavy rains between July 7 and 14, the number of tourists in the state has come down to almost zero. The situation is improving rapidly and roads are being opened. Tourists are welcome in the state.

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The Modi government has announced the constitution of a four-member committee under the chairmanship of the Finance Secretary to improve the National Pension System. In such a situation, it is being speculated that the Modi government can also give green signal to the formation of the Eighth Pay Commission. The 8th Pay Commission is to be constituted in 2023 itself. The Pay Commission was constituted only in 2013 when the recommendations of the Seventh Pay Commission were implemented in 2016. The recommendations of the new Pay Commission are implemented after every 10 years.

Last year in August 2022, when the question was asked to the Finance Minister whether the Modi government would also give a green signal to the formation of the Eighth Pay Commission. The Pay Commission is to be constituted in 2023 itself. Then, while answering this question, Minister of State for Finance Pankaj Chaudhary had said that there is no proposal before the government to set up the 8th Pay Commission. The Minister of State for Finance had given this answer in writing to the question asked during the Question Hour.

Although it is not that easy either. Because the National Pension System, about which the Modi government was not getting confused, during the passage of the Finance Bill in the Lok Sabha, Finance Minister Nirmala Sitharaman announced that it has been decided to further improve the National Pension System for government employees and for that, she has decided to form a committee under the chairmanship of the Finance Secretary. This decision of the Finance Minister was surprising.

The Lok Sabha elections to be held in 2024 are just a year away and the vote of the government employees is very important for the ruling party, in such a situation, a committee has also been formed to improve the National Pension System. In such a situation, it is believed that the Modi government can also give a green signal to the formation of the Eighth Pay Commission. Before the Lok Sabha elections, the government cannot buy the displeasure of the government employees by not constituting the Pay Commission. Opposition parties can make it a big election issue like NPS.

There was already a tussle between the Center and the states ruled by the opposition parties regarding the National Pension Scheme. The old pension scheme was reinstated in Congress ruled states like Himachal Pradesh, Rajasthan, Chhattisgarh. After which the government has constituted a committee to review the NPS. That’s why it is being speculated that the government can also constitute the Eighth Pay Commission.

Let us tell you that since 1947 many Pay Commissions have been formed. The government constitutes a new pay commission every 10 years. On the basis of whose recommendations the salary of central employees and pension of pensioners are increased. The Seventh Pay Commission was constituted by the UPA government on 24 February 2014. In 2006 and 2016, the Sixth and Seventh Pay Commission had recommended a big hike in the salaries of central employees and the governments, accepting it, had also increased the salaries of government employees.

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Let us tell you that recently the Kejriwal government has taken many important decisions for the laborers of Delhi. Among these, free metro service for laborers is being discussed the most. Delhi government can soon start providing free metro service to laborers. According to media reports, pre-loaded metro cards can be given to laborers from now on.

Unique initiative of Delhi government

Delhi’s Labor Minister Rajkumar Anand wrote a letter to the Delhi Metro Rail Corporation (DMRC), in which he appealed to provide free metro facility to the laborers working at the construction site here. Go This facility should be given to those laborers who have DTC pass. Labor Minister Rajkumar Anand told the Delhi Metro Rail Corporation that a plan should be made to give a month’s pass to the laborers in the same way as the Transport Corporation provides them passes.

Total more than 13.1 lakh laborers in the capital

A Delhi government official said that the Metro Corporation has also appreciated this initiative. Although, Delhi Metro does not have any such rule by which it can provide passes for laborers for free, but if media reports are to be believed then the offer of pre-loaded smart card from Delhi Metro has definitely been given to the government. There are a total of 13.1 lakh laborers in the capital.

These include electricians, construction workers, plumbers, painters and guards, among others. Let us tell you that a large number of laborers in the capital are registered with the Delhi building and other construction worker welfare board and the board gives them free bus passes.

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