No change in personal tax rate What salaried class got from Budget

first_img[Representational image]Creative CommonsIt was expected that Budget 2018 would offer some salve to the salaried class which has always been the favourite target of finance ministers looking to shore up revenues to keep the bloated government machinery running.Union Budget 2018 highlights: FM throws cold water on hopes of individual taxpayersThere were high expectations that the budget would propose to increase the personal tax exemption limits and raise the current basic tax slabs. But Budget 2018 disappointed the salaried class with no changes offered in tax slabs.A person whose total income exceeds the tax exemption limit set by the government has to pay income tax. This has to be paid based on prevailing rates. Currently, people earning up to Rs 2.5 lakh per annum are exempted from income tax. There was speculation that the finance minister will increase the current basic income tax slabs to Rs 3 lakh. But he disappointed by going by the current rates.  Current income tax slabsHere are major announcements related to personal tax from Union Budget 2018:  The government has made many positive changes in personal income tax rates in the past year so no changes will be there in personal tax rates and tax slabs in Budget 2018.For all of the employees, the government would continue to make 12% contribution towards the Employee provident fund account for three years’ time.Women contribution to EPF reduced to 8% for first 3 years without affecting employer’s contribution.Seventy lakh formal jobs have been created this year. Government to contribute 12% of EPF contribution for new employees in all sectors.In a relief for salaried taxpayers, Arun Jaitley announced standard deduction of Rs 40,000 under the heads of transport and medical reimbursement. The facility is extended to pensioners as well.The education cess on personal income tax will be raised to 4 percent from the present 3 percent.”The salaried class was looking forward to either a realignment of tax slabs or significant benefit in the form of standard deduction. Though the standard deduction of Rs 40,000 looks attractive the benefit is significantly diluted since medical reimbursement of Rs 15,000 and transport allowance of 19,200 have been removed. The increase of cess on the tax to 4% from current levels of 3% also eats into the savings”,  Saraswathi Kasturirangan Partner of Deloitte, told International Business Times India.last_img read more

At least one dead as lowcaste Dalit protests in India

first_imgMembers of the Indian Dalit community stage a protest, with a portrait of 20th century social reformer B. R. Ambedkar, during a countrywide strike against a Supreme Court order that allegedly diluted the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act, in Allahabad on 2 April 2018 Photo : AFPStreet battles and widespread protests by Indian low-caste groups enraged by what they consider the undermining of a law protecting their safety left at least one dead, police said Monday.Clashes with police, attacks on buses and government buildings, and blocked trains and roads were reported across five Indian states.The central state of Madhya Pradesh was one of the worst hit, particularly the city of Gwalior.”We can confirm at least one death. A curfew has been imposed in parts of the city and the protesters are still on the ground,” Anshuman Yadav, police inspector general for Gwalior, told AFP.Trouble was also reported in the capital New Delhi, and Uttar Pradesh, Punjab, Rajasthan and Bihar states.The “Bharat Bandh” (India shutdown) was called by groups representing the Dalits, formerly known as untouchables, who make up 200 million of India’s 1.25 billion population and are at the bottom of the caste hierarchy.They are enraged at a Supreme Court ruling that banned the automatic arrest of the accused in cases under a special law to protect marginalised groups who suffer widespread discrimination.The 1989 Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act was intended to guard against the harassment of Dalits and other groups.Rajnath Singh, India’s home minister, called for calm.”The government is appealing against the court order but it is a responsibility of everyone including all political parties to ensure peace,” Singh told journalists in Delhi, where the Dalit protests caused traffic chaos.There were media reports of more deaths in Morena district of Madhya Pradesh, but police could not immediately confirm fatalities.”We have reports of at least one death but can’t confirm it for now. Bringing the situation under control is our priority,” Santosh Kumar Singh, inspector general for the region, told AFP.Across the affected states, groups hurled stones, bottles and burning sticks at police and set buses on fire. Some sat on railway lines to block trains.Reports said a police outpost near Meerut in Uttar Pradesh state was set on fire. Dalit men hurled stones at police and security personnel.Police in Azamgarh district of the state told AFP that public buses were set on fire by protesters.Dalits are among the most marginalised groups in India, where caste discrimination is outlawed but remains widespread.Last week a young farmer from the community in Gujarat was beaten to death for owning a horse, which is seen as a symbol of power and wealth, police said.last_img read more

Listen Refinery29 Chief Amy Emmerich on Navigating Digital Media The Audience Is

first_img“It was a matter of adjusting our strategy to watch the decline of paid and the incline of search.” As digital publishers were examining the impact of post-Facebook marketplace swings, it became clear to Emmerich and Refinery29 leaders that advertisers were become wary of less-than-organic user growth. “Who wants somebody that you had to buy? That’s not necessarily someone you’re trying to talk to,” Emmerich says.Emmerich joined Refinery29 in 2015 after a stint at Vice and after building up a long resume as a producer and programming executive in cable at MTV and Travel Channel, among others. The digital world was attractive to her because it seemed like “the wild West.” Even compared to the voracious programming appetite of 24/7 cable channels, running a digital lifestyle brand is hard-charging work.“You have to be comfortable with change,” she says. “You have to think about your strategies and review them quarterly. Unlike when I was in television when it was a yearly experience.”Emmerich’s mantra for guiding Refinery29’s content efforts — which include everything from short films showcased at Sundance to traditional TV series and feature films in development with various partners — is simple: “The audience is the boss of me.” Emmerich and her team are laser-focused on tracking what makes young women tick. Impressing tech-savvy, pop culture-loving 20- 30- and 40-somethings is no easy feat. “We’ve birthed a generation with technology where they are all creators the minute they get a phone in their hand,” Emmerich says.“Strictly Business” is Variety‘s weekly podcast featuring conversations with industry leaders about the business of entertainment. A new episode debuts each Tuesday and can be downloaded on iTunes, Spotify, Google Play, Stitcher, and SoundCloud. Refinery29 was ahead of the curve among digital-native publishers in emphasizing video as a means of keeping users engaged for longer stretches and on a more frequent basis.Amy Emmerich, president North America and chief content officer for the lifestyle brand aimed at young women, says that that early focus on ramping up short- and long-form video allowed the company to navigate the choppy waters caused by Facebook’s now-infamous algorithm revamp in late 2017 that has taken such a toll on digital media outfits.On the latest episode of Variety‘s podcast “Strictly Business,” Emmerich says the changes in the digital landscape during the past few years also drove Refinery29 to wean itself of paid audience acquisition to pad its monthly user base. At present, Refinery29’s attracts a monthly user base of about 30 million. Listen: Discovery’s Kathleen Finch on How to Nurture Lifestyle Brands Popular on Variety “We’ve made a concerted effort to shrink the amount of paid (traffic) that happens at this company and we’ve done so pretty successfully,” Emmerich says. Related Listen: A Showbiz Lawyer Satirizes Hollywood In His New Novel ×Actors Reveal Their Favorite Disney PrincessesSeveral actors, like Daisy Ridley, Awkwafina, Jeff Goldblum and Gina Rodriguez, reveal their favorite Disney princesses. Rapunzel, Mulan, Ariel,Tiana, Sleeping Beauty and Jasmine all got some love from the Disney stars.More VideosVolume 0%Press shift question mark to access a list of keyboard shortcutsKeyboard Shortcutsplay/pauseincrease volumedecrease volumeseek forwardsseek backwardstoggle captionstoggle fullscreenmute/unmuteseek to %SPACE↑↓→←cfm0-9Next UpJennifer Lopez Shares How She Became a Mogul04:350.5x1x1.25×1.5x2xLive00:0002:1502:15last_img read more