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Showing posts from June, 2009

Govt proposes New Health Insurance Scheme in lieu of CGHS

With an effort to introduce Central Government Employees & Pensioners Health InsuranceScheme (CGEPHIS) recommended by Sixth Central Pay Commission, Ministry of Health & FamilyWelfare, invites Expressions of Interest from Insurers and Health Insurance consultants for the proposed scheme.As per the document known as Expression of Interest published the CGHS website in this regard,Government of India proposes to provide inpatient health care services to the following personnel of the Central Government .BeneficiariesAll personnel of the Central Government including All India Service officers, serving, newly recruited, retired and retiring and others who are covered under the existing CGHS(Central Government Health Services)  and under CS (MA) [Central Services (Medical Attendance) Rules] Rules shall be offered Health Insurance Scheme  on voluntary or on compulsorily basis . This could be:CGEPHIS shall be compulsory to new Central Government Employees who would be joining service …

Standard deduction for salaried employees may return

Ahead of the annual budget, here’s some cheer for salaried employees and pensioners. The finance ministry is considering bringing back standard deduction of up to Rs 20,000 in individual taxable incomes.
According to revenue department officials, the government may be willing to take a small hit in return for a spike in spending that it hopes will result from a bigger disposable income with the salaried classes.
Till the budget for 2005-06, a standard deduction of Rs 30,000 or 40 per cent of income, whichever was lower, was allowed to salaried employees with an annual income between Rs 75,000 and Rs 5 lakh. For those earning more, the standard deduction was fixed at Rs 20,000.
The standard deduction was meant to compensate salaried people for the fact that self-employed small business persons or entrepreneurs paid tax only on their net income after deducting business expenditure.
Industry has been demanding the re-introduction of standard deduction so that individual ta…