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Tuesday, November 28, 2023

income tax calculation

 income tax calculation 

DA Hike New Update: Central employees once again happy, DA hike likely to be 5%, read complete information

DA Hike: DA Hike New Update Central employees can expect prosperity for the next few months. After receiving dearness allowance in October, their hopes now depend on the next amendment. This amendment has significant potential to bring positive change. May the coming new year bring more prosperity for these employees. They eagerly wait for promising news, especially regarding dearness allowance. From July 1, 2023, employees are getting 46 percent dearness allowance. Another revision in Dearness Allowance (DA Hike) will be seen in January 2024.

DA Hike New Update: DA Hike

The latest update on Dearness Allowance shows that the AICPI index numbers for July, August and September have been released recently. Currently, the index stands at 137.5 points and the inflation allowance score is 48.54 percent. Forecasts show that this number is expected to exceed 49 percent by October. However, we are still waiting for the November and December data to fully understand the situation.

The total increase in dearness allowance (DA increase) can be finalized only after the AICPI index number of December 2023 comes.

There will be a big jump in dearness allowance: DA Hike

The determination of dearness allowance for central employees under the 7th Pay Commission depends on the AICPI data from July to December 2023. At present, dearness allowance is around 48.50 per cent, which includes a grace period of three months. Analysts expect an additional increase of 2.50 percent during this time frame.

Getting 51 percent dearness allowance (DA increase) in the coming months depends on the index calculation. Prepare yourself for the Dearness Allowance Calculator.

DA Hike may increase by 5%

Dearness Allowance is on the verge of a historic 5 percent increase, the biggest increase ever. The signals presented by the AICPI index indicate the possibility of this intensification. Analysts estimate that, following the current trajectory, the inflation allowance could reach an impressive 51 percent. If this materializes, it would represent a significant jump of 5 percent.

The DA hike is decided on the basis of AICPI index, which measures the inflation rate in different sectors. This index provides information on the appropriate percentage by which employee allowances are increased as per the prevailing inflation rates.

Employees are getting the benefit of HRA in DA Hike.

The revision of house rent allowance for central employees is done on the basis of dearness allowance (DA increase). All employees will get the benefit of increased HRA. According to the category of the city, HRA is available at the rate of 27 percent, 18 percent and 9 percent. The government had issued a memorandum for this in the year 2015. It linked HRA with dearness allowance. Three rates were fixed for this. 0, 25, 50 percent

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Complete history of income tax in Gujarati

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Note: This article is written only to give you information, for official information see the official website

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