50% TATKAL TICKETS ON DYNAMIC PRICING IN ANOTHER 16 TRAINS

Ministry of Railways have decided that 50% of the existing tatkal quota tickets shall be sold under dynamic fare scheme.

 After booking of the first 50% of tatkal tickets under tatkal quota, the subsequent 50% tatkal tickets will be sold o­n dynamic pricing.  

The fare shall increase by 20% after each slab of 10% berths are sold subject to the existing cap (maximum fare chargeable) o­n dynamic fare. 

This scheme is further implemented in following trains of Central Railway with immediate effect.  

1. 11005 Dadar - Puducherry Tri-weekly Express

2. 11021 Dadar - Tirunelveli Tri-weekly Express 

3. 11050 Shri Chhatrapati Shahu Maharaj Terminus (Kolahpur) - Ahmedabad Express

4. 11088 Pune - Veraval Express

5. 11090 Pune - Bhagat ki Kothi (Jodhpur) Express

6. 11092 Pune - Bhuj Express

7. 11096 Pune - Ahmedabad Ahimsa Express

8. 12051 Dadar - Karmali Jan Shatabdi Express

9. 12101 Lokmanya Tilak Terminus - Howrah Jnaneshwari Express

10. 12129 Pune - Howrah Azad Hind Express

11. 12809 Chhatrapati Shivaji Terminus Mumbai - Howrah Mail Via - Nagpur

12. 16351 Chhatrapati Shivaji Terminus Mumbai - Nagarcoil Express

13. 16381 Chhatrapati Shivaji Terminus Mumbai - Kanyakumari Express

14. 18029 Lokmanya Tilak Terminus - Shalimar Express

15. 11061 Lokmanya Tilak Terminus - Muzaffarpur Express

16. 11065 Lokmanya Tilak Terminus - Darbhanga Express

This scheme is already in force o­n 15 mail/express trains of Central Railway.

All concerned to please take note of this and avail the scheme

IT Limit can be increased upto Rs 3 Lac

                                 

                                      

Finance minister Arun Jaitley may announce during the Budget

The Modi government may declare a raise in the  limit from the current 2.5 lacs to 3 lacs. 

Finance Minister Arun Jaitley may announce an increase in the Income Tax Exemption limit to 3 lacs in the 2015-16 budget meeting, which will be a great relief to the taxpayers, particularly for Central Government Employees.

If this proposal is accepted, then there are chances that changes are made in the  slab, which may also provide relief to the people of the High Income group. 

It is being understood that the government can give a tax exemption up to an annual income of Rs 3 lacs; where a 10% tax was paid for an income between 2.5 to 5 lacs, there it is expected that people with an annual income of Rs 3 lacs to 10 lacs will have to pay a tax of 10%. Similarly, where people with an annual income of Rs 5-10 lacs had to pay a tax of 20%, it is expected that this tax rate would be extended for the income group of 10-20 lacs. 

Similarly, the 30% tax rate for the income above 10 lacs is expected to be increased to a limit between 20 lacs and 1 crore for implementation. It has been told that the government is making easy the path of the High Income group and for above 1 crore, and is in the process of collecting a lump sum of 33% instead of the interest over 30% and surcharge of 10%. 

According to sources, the special Investigation team formed in relation to black money has recommended a maximum cash possession limit of approximately 15 lacs which may also be declared. 

Expected Potential Relief in Income Tax

Present Income Tax Slab

Total amount of Income	Rate (Percentage)
Up to Rs 2.5 Lacs	Nil
2.5 lacs to 5 lacs	10
Rs 5 Lacs to 10 Lacs	20
Above 10 Lacs	30
Above 1 Crore	30 plus 10 percent surcharge

Proposed Income Tax Slab

Total amount of Income	Rate (Percentage)
Up to Rs 3 Lacs	Nil
3 lacs to 10 lacs	10
Rs 10 Lacs to 20 Lacs	20
Rs 20 Lacs to 1 Crore	30
Above 1 Crore	33