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CHQ CALL TO ORGANISE PROTEST DEMONSTRATION ON 03-02-2020 AGAINST THE CRUELTY AND INSULT METED OUT TO VRS RETIREES HAS BEEN RESPONDED WELL ALL OVER THE COUNTRY. VRS RETIREES WERE NOT PAID ANY OF THE RETIREMENT BENEFITS AND EVEN TWO MONTHS SALARY ALSO NOT PAID AND AS SUCH THEY WERE COMPELLED TO BID FAREWELL TO BSNL EMPTY HANDED. IN CERTAIN CIRCLES LIKE KERALA AND CHENNAI TELEPHONES BSNLEU ALSO JOINED THE PROGRAMME.SOME OF THE PHOTOS RECEIVED FROM CIRCLES ARE POSTED CIRCLEWISE.

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GUWAHATI, ASSAM – COM.M R DAS, AGS INAUGURATING.

130 VRS RETIREES JOIN AIBDPA IN KHAMMAM.

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A felicitation meeting was held at Khammam on 01-02-2020 in connection with the retirements of 216 VRS optees. Coms.J Sampath Rao, AGS & CS, BSNLEU, D Shankar, CHQ Vice President, Ramachandradu, Circle Secretary and Sambasiva Rao, Asst Circle Secretyary participated and addressed the meeting. 130 retirees readily joined AIBDPA.Some others who could not attend the meeting promised to join at the earliest opportunity.

Congratulations to Telangana Comrades, especially Com.J Sampath Rao for the remarkable job.

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THE TWO DAYS BANK STRIKE COMPLETE- CONGRATULATIONS

10 lakh bank employees and officers participated in the country wide two day strike on  31st January and 1st February, 2020. The strike call was given by the United Forum of Bank Unions (UFBU) consisting nine unions of bank employees and officers against merger of banks which will result in closure of thousands of bank branches, particularly in the rural areas. It was also against the negative and adament stand of IBA (Indian Banks Association) on wage agreement due from 2017.

AIBDPA congratulate the bank workers and officers for their glorious two day strike and express our solidarity to them.

Personal Income Tax Slab for FY 2020 21

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This Personal Income Tax Slab for FY 2020 21 paves the way for significant relief, especially for Middle Class Taxpayers

The Official press release published in PIB is given below

New Personal Income Tax Regime to be optional for the taxpayers

New rates entail estimated revenue forgone of Rs 40,000 Crore per year

While presenting the Union Budget 2020-21 in Parliament today, the Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman said, “The new tax regime shall be optional for the tax payers.” She further said that an individual who is currently availing more deductions and exemptions under the Income Tax Act may choose to avail them and continue to pay tax in the old regime.

The New personal Income tax regime proposes the following tax structure:

Taxable Income Slab (Rs.) Existing Tax Rates New Tax Rates
0-2.5 Lakh Exempt Exempt
2.5-5 Lakh 5% 5%
5-7.5 Lakh 20% 10%
7.5-10 Lakh 20% 15%
10-12.5 Lakh 30% 20%
12.5-15 Lakh 30% 25%
Above 15 Lakh 30% 30%

 

The new tax regime will be optional for the taxpayers. As per the Memorandum explaining the provision in the Finance Bill, the option shall be exercised for every previous year where the individual or the HUF has no business income and in other cases the option once exercised for a previous year shall be valid for that previous year and all subsequent years. The option shall become invalid for a previous year or previous years as the case may be if the individual or HUF fails to satisfy the conditions and other provisions of the Act shall apply.

The new personal income tax rates will entail estimated revenue forgone of Rs 40,000 crore per year. Smt Sitharaman said, “We have also initiated measures to prefill the income tax return so that an individual who opts for the new regime would need no assistance from an expert to file his return and pay income tax.” The Finance Minister said that in order to simplify the income tax system, she has reviewed all the exemptions and deductions incorporated over the past several decades.”

In the Budget, around 70 of the existing exemptions and deductions of different nature (more than 100) have been proposed to be removed. Remaining exemptions and deductions will be reviewed and rationalised in the coming years with a view to further simplifying the tax system and lowering the tax rate

The rates of Personal Income Tax Slab for Financial Year 2019-20

If Income Tax Slab regime FY 2019-20 is beneficial than the new Tax Slab 2020-21, the individual will be allowed to continue the 2019-20 Income tax Slabs in 2020-21 financial Year

New Income Tax Slab 2020-21 is optional .

The Income Tax Slab for Financial Year 2019-20 is

Income Tax Slab 2019-20 Individuals Below the Age Of 60 Years
Up to Rs.2,50,000 Nil
Rs.2,50,001 to 5,00,000 5%
 Rs.5,00,001 to 10,00,000 Rs.12,500 + 20% of total income exceeding Rs.5,00,000
Above Rs. 10,00,000  Rs.1,12,500 + 30% of total income exceeding Rs.10,00,000

Tax payers can choose either new Tax slab or Old Income tax slab for assessing the income tax for Financial year 2020-2021

MALKAJGIRI MP (LS) SHRI. A.REVANTH REDDY MET BY AIBDPA DELEGATION.

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Shri.A. Revanth Reddy MP from Malkajgiri Lok Sabha constituency has assured AIBDPA delegation that earnest efforts will be made to take up the issue of pension revision with the governemt.. The delegation led by Coms.D Shankar, CHQ Vice President, Ramachandradu, Circle Secretary and T Seshaiah, District Secretary, Hyderabad met the MP on 25-01-2020 and gave him a letter and copy of memorandum being submitted to the Prime Minister.

SHRI.ASODODDIN OWISE. MP (LS) , HYDERABAD MET BY HYDERABAD DELEGATION.

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Hyderabad delegation led by Coms.D Shankar, CHQ Vice President, Ramachandradu, Circle Secretary and T Seshaiah, District Secretary, Hyderabad have met Shri. Asododdin Owise, MP (LS), Hyderabad on 23-01-2020.They brought to his notice the issue of pension revision, pending unsettled for the last three years. The delegation also gave him a letter and copy of memorandum being submitted to the Prime Minister. The MP assured that he will intervene in the matter for early settlement.

PENSION REVISION- LETTER AND COPY OF MEMORANDUM GIVEN TO SHRI.OM BIRLA , LOK SABHA SPEAKER AND MP FROM KOTA.

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 A delegation of AIBDPA Kota SSA of Rajasthan Circle consisting with Com.N R Meghwal,Com D N Dubey,Com R M Sarswat,Com Y K Sharma,Com S K Sharma, Com V K Sharma,Com Shankar Meghwal,Com Mangilal met and submitted memorandum to Sh Sandeep Sharma MLA Kota South representative of Lok Sabha Speaker and MP Kota Bundi Lok Sabha Hon’ble Om Birla ji for Hon’ble Prime Minister of India for Pension revision for BSNL retirees,