New Personal Tax – Union Budget 2020/21

Tax Rates: Income Tax Slab for A.Y. 2020-21 In the new tax regime, substantial tax benefit will accrue to a taxpayer depending upon exemptions and deductions claimed by him.  For example, a person earning Rs 15 lakh in a year and not availing any deductions etc. will pay only Rs, 1,95,000 as compared to Rs, 2,73,000 in the old regime. Thus his tax burden shall be reduced by 78,000 in the new regime. He would still be a gainer in the new regime even if he was taking deduction of…

Everything You Wanted To Know About The Maternity Benefit Amendment Act – 2017

On 28th March,2017 Government of India  notified The Maternity Benefit (Amendment) Act, 2016 Act . The Amendment Act received the assent of President of India on 27th March, 2017, cabinet gave its nod for 6 weeks maternity leave in 2016 and with president assent now, its a law eff April 1st, 2017. The salient features of the Maternity Benefit (Amendment) Bill, 2016 Increase the maximum period of maternity benefit from the existing twelve weeks to twenty-six weeks, in case of women who have less than two surviving children and in other…

Cabinet gives nod for 6 weeks maternity leave, amendments will help 1.8 million (approx.) women workforce

Press Release (PIB): The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its ex-post facto approval for amendments to the Maternity Benefit Act, 1961 by introducing the Maternity Benefit (Amendment) Bill, 2016 in Parliament. The maternity benefit Act 1961 protects the employment of women during the time of her maternity and entitles her of a ‘maternity benefit’ – i.e. full paid absence from work – to take care for her child. The act is applicable to all establishments employing 10 or more persons. The amendments will…

A very powerful video posted for HRD Minister on girl education

HRD Minister Smriti Zubin Irani posted a video on facebook titled “Educating our girls to become leaders of tomorrow” part of the “Beti Bachao, Beti Padhao” (BBBP) campaign, very simple and truly impact full. “More will go to school and less will sit at home. This is how India’s daughters will be saved,”  

Global outsourcing is alive and it’s kicking!

Lots of analysts had predicted slowdown in global outsourcing industry, some even predicted, it will eventually vanish after a decline, data shows a different picture, outsourcing industry is alive and kicking, its going to stay for longer period. A recent report by IDG Outsourcing Index has concluded 2014 is the best year ever for outsourcing. Data from the ISG Outsourcing Index, which measures commercial outsourcing contracts with annual contract value (ACV) of $5 million or more, show that fourth-quarter ACV surged 27 percent, to $5.8 billion, over the prior year…

Customer Service in India has Evolved

After spending a decade in customer service industry, it has been a norm for me to judge an organization basis the customer service and not the product. No matter how fabulous your product is, lack of customer service will call for doomsday for the product. My recent experiences are not from a high end product or service, the positive experience has come from the cheapest of services of I had bought. I would still expect it to get it right at the first time but an acknowledgement and rectification of…

India will be the World’s Fastest Growing Economy by 2017

The January 2015 edition of Global Economic Prospects published by World Bank suggest India will be the fastest growing economy, will surpass china’s growth momentum as well. As per the report, India’s GDP will grow by 7.1% by 2017, higher than china (6.9%) and rest of the world (3.2%).  This change in out is primarily attributed by the change in government which escalated reforms and fixed policies paralysis in last few years. Some key highlights from the reports on India’s (including South Asia) improved outlook;

Amendments to the Employees Provident Funds and Miscellaneous Provisions Acts

Ministry of Labor and Employment (GOI) has initiated an exercise to amend the Employees Provident Funds and Miscellaneous Provisions Acts . In its circular dated Dec 18th, ministry has asked for suggestion on the changes suggested. Please click here for proposed amendments. The Employees Provident Funds and Miscellaneous Provisions Acts 1952 was last amended in 1998, with the changed economic scenario, employment pattern and social security needs of the workers in organized sectors, amendments to the existing provisions are required. The circular further suggests,   several representations were also received…

Young population is driving internet usage across the world

A survey conducted by atkearney reveals what may not be surprising, young users across the world are driving internet usage, they are often connected. “In countries such as Brazil and Nigeria, with younger populations and solid smartphone penetration, two-thirds of respondents say they are continuously connected,” according to the report. “The respondents who are continuously connected tend to be younger and single.” The survey was conducted on 10,000 “connected consumers”—those who say they connect to the Internet at least once a week, but oftentimes much more. Survey includes approximately 1,000 consumers each in…

India has potential to achieve 9% growth rate: PwC report

New Delhi (PTI): India has the potential to achieve 9 per cent growth rate and become a USD 10 trillion economy by 2034 on the back of concerted efforts by the corporate sector and a constructive role played by the government, a PricewaterhouseCoopers (PwC) report said Monday. “India is on the cusp of major change… For India to take the winning leap and grow its GDP by 9 per cent per annum to become a USD 10 trillion economy, a concerted effort from corporate India, supported by a vibrant entrepreneurial…