Latest news with #Allowance
Time of India
6 hours ago
- Business
- Time of India
Centre hikes central deputation allowance for certain category of officers
The central government has increased the central deputation allowance. This is for specific officer categories. The Department of Personnel and Training issued an order. The Central Secretariat (Deputation on Tenure) Allowance rates are revised. All India services and Group A central services officers are eligible. They must be appointed as Under Secretary, Deputy Secretary, or Director. Tired of too many ads? Remove Ads The Centre has increased central deputation allowance for certain categories of officers, according to a Department of Personnel and Training (DoPT) revised rates of Central Secretariat (Deputation on Tenure) Allowance (CDTA) are admissible to the officers of all India services and organised Group A central services on their appointment as Under Secretary, Deputy Secretary and Director in the central secretariat under the Central Staffing Scheme, the order issued on Wednesday present, during their tenure as Under Secretary, Deputy Secretary, or Director, the officers are paid CDTA at the rate of 10 per cent of their basic pay, subject to a ceiling of Rs 9,000."In consideration of references received from various ministries/departments and after due consultation with Department of Expenditure, it has been decided that the ceiling will further rise by 25 per cent each time Dearness Allowance increases by 50 per cent," the DoPT said. PTI
Newsweek
28-05-2025
- Business
- Newsweek
Norway To Randomly Select 100,000 Millennials, Gen Z For Tax Cuts
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Norway plans to randomly select 100,000 people born between 1990 and 2005, covering both millennials and Gen Z, to receive an annual tax cut of $2,700 for several years. Newsweek has reached out to Norway's Ministry of Finance via email for comment. Why It Matters The Norwegian government is currently exploring ways to boost participation in the labor market, following rising social security payments and a shortage of workers across multiple sectors, as per Reuters. President Donald Trump shakes hands with Norwegian Prime Minister Jonas Gahr Store during a meeting at the White House in Washington, D.C., on April 24, 2025. President Donald Trump shakes hands with Norwegian Prime Minister Jonas Gahr Store during a meeting at the White House in Washington, D.C., on April 24, has the largest sovereign wealth fund (SWF), which is a state-owned investment fund, in the world, an amount of $1.8 trillion. Tens of billions are spent from the fund each year. What To Know The initiative has been proposed by Norwegian Finance Minister Jens Stoltenberg and Labor Minister Tonje Brenna. If passed, it will offer tax cuts for around 8 percent of workers who are between 20 and 35 years of age, spanning older millennials into younger Gen Z. The initiative aims to measure if lower taxes could drive higher employment. If it is passed by parliament, the group of 100,000 people would be part of an academic study. Those with tax cuts would then be compared to those without. It is estimated that the measure would cost around $49 million annually, according to Reuters. In 2024, the country's former Finance Minister Trygve Slagsvold Vedum along with Brenna raised Norway's Tax Free Allowance to $9,500 (100,000 NOK). In an interview with the outlet NRK at the time, Vedun said: "We want young people to be able to earn up to 100,000 NOK without being burdened by taxes. Therefore, we are raising the Tax-Free Allowance from 70,000 NOK to 100,000 NOK. This means that more young people will be able to work without paying any taxes." Norway is not the only European country to look at tax breaks for young people. Portugal has introduced a comprehensive tax relief program targeting individuals aged 18 to 35. Under this scheme, young professionals earning up to €28,000 ($32,000) annually are exempt from income tax in their first year of employment. France meanwhile offers the "impatriate tax regime," which provides tax benefits to individuals returning to France after working abroad. What People Are Saying Norway's Finance Ministry, in a statement to Reuters: "This will give us strong data on whether such a tax deduction really boosts youth employment, and on how much more or less those who are already in a job will work." What's Next The initiative is projected to last three to five years. Whether it passes in parliament remains to be seen.
The Province
23-05-2025
- Sport
- The Province
Wannabe champs face tough returns to Hastings action
Opinion: Fresh from their winter breaks, last season's leading juveniles return to action as they embark on a season they hope ends in big-race glory. Breezing Brianne, ridden by Brian Boodramsingh. Photo: Michael Bye Photo by Michael Bye With two legs of racing's Triple Crown already in the books, the Classic generation at Hastings is only now shaking off the winter rust, with last year's leading juveniles slated to make their three-year-old debuts on Saturday. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Mount Doom, last year's leading two-year-old male, faces six rivals in a valuable Allowance contest as he begins a campaign connections hope will lead all the way to September's B.C Derby. It won't be easy. Despite carrying all before him last season, Mount Doom takes on older horses this Saturday, which is never a straightforward prospect, and particularly tough at this time of year. Four-year-old thoroughbreds are normally bigger and stronger than their junior rivals, and the two generations don't normally clash until later in the season, when they are more evenly matched. Fortunately, Mount Doom's trainer, Steve Henson, who has saddled five winners already this term, remains undaunted by the prospect. Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'We have to start somewhere,' he said. 'It's not ideal to run against older horses, but I really couldn't be happier with him. 'I'd have been happy to go straight into the first Stakes race of the year without a race, but it's preferable to give him a run.' Mount Doom (#2), ridden by Antonio Reyes last August. Photo credit: Michael Bye Photo by Michael Bye Breezin Brianne also faces older horses on Saturday, although her path to the top this season has not been harmed by the absence of last year's leading juvenile filly, Someday Lady. She is currently based at Santa Anita in California and is slated to run there this weekend. Trained by veteran handler Mel Snow, Breezin Brianne, named for a granddaughter of the owner, has pleased connections this spring and, like her male counterpart, has thrived during her winter break. This advertisement has not loaded yet, but your article continues below. Snow said: 'Yes, she wintered good and is training really good. I bought her from the yearling sale and we've always liked her.' Similarly to Mount Doom, Breezin Brianne faces a tough season debut. Her rivals include the four-year-old filly Sunblaze, a leading three-year-old last season, who was third in the B.C. Cup Hong Kong Jockey Club Handicap. However, while Snow would have preferred an opportunity to keep his star filly among her own age group, he remains confident Breezin Brianne (who is a half-sister to the smart Diocles, a Hastings winner last weekend and one of last season's best three-year-olds), will give a good account of herself on Saturday. 'She could have gone straight to the Stakes race without a prep race,' Snow said this week. 'She will be fine.' Hastings race selections First race Saturday, 2:30 p.m. Saturday, Race #4: Fit from a winter campaign in Arizona, THOMPSON looked to have a little in hand when scooting through a gap to win narrowly on opening day. The runner-up that afternoon won last weekend and the selection can make it two for two at Hastings. Saturday, Race #5: Last year's leading juvenile MOUNT DOOM faces a tough task on his season debut, but he was a class act last year and he can make a winning first step on the path to bigger prizes. 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Daily Record
21-05-2025
- Business
- Daily Record
Over one million pensioners set to pay higher rate of income tax this year
The Personal Allowance will be frozen at £12,570 until the 2027/28 financial year. The latest figures from the Department for Work and Pensions (DWP) show there are now 13 million people of State Pension age across the country. The current official age of retirement is 66 and set to rise to 67 between 2027 and 2028. The UK Government has confirmed that an estimated 8.51 million people of State Pension age paid income tax in the last financial year and as the Personal Allowance will remain frozen at £12,570 until April 2028, more pensioners are set to pay tax on their retirement income. Charlene Young, senior pensions and savings expert at AJ Bell, warns that over one million pensioners are set to pay the higher tax rate of either 40 per cent (£50,271 to £125,140) for those living in England or Wales and 42 per cent (£43,663 to £75,000) for those in Scotland. The senior pensions and savings expert at AJ Bell, said: 'The nation has fallen victim to the effects of fiscal drag in recent years. Frozen allowances and tax thresholds have pulled more people into the tax system for the first time and hiked the rates of tax people pay as their income rises and they breach a new tax band. 'Pensioners are not shielded from it either - over one million people above state pension age will breach the higher rate 40 per cent threshold this tax year, more than double the number there were when the big freeze began.' Ms Young continued: 'The UK Government is in a straitjacket thanks to its own fiscal rules, and these figures will bolster the arguments of those calling for state pension reform. The full 'new' State Pension is close to breaching the tax-free Personal Allowance, and many pensioners already receive well above this thanks to the way benefits could be built up under the old system. 'The Labour Party has repeatedly pledged to protect the Triple Lock guarantee and has paused further hikes to the State Pension age beyond those due to start in 2026. 'But with pensioner spending predicted to top 50 per cent of the welfare bill by the end of the decade, and the rise in State Pension age from 66 to 67 set to save £10 billion in borrowing, can it really continue to ignore calls for further reform?' The UK Government has confirmed it will honour the Triple Lock policy during this parliamentary term. However, this could see everyone on the full, New State Pension pushed over the tax threshold in just two years' time. Under the Triple Lock policy, the New and Basic State Pensions increase each year in-line with whichever is the highest between the average annual earnings growth from May to July, CPI in the year to September, or 2.5 per cent. It is aimed at preventing the value of the State Pensions being whittled away by cost of living pressures. The New and Basic State Pensions increased by 4.1 per cent in April, however, future forecasts from the Labour Government expect it to rise by 2.5 per cent over the next four financial years. Using these calculations, it puts the full New State Pension on track to be worth £12,578.80 in the 2027/28 financial year - £78.80 over the Personal Allowance. While the amount of State Pension to be taxed may seem relatively small - tax is only paid on the amount over the Personal Allowance - older people with other income streams could find themselves having to part with more cash to pay a tax bill - if it's not automatically deducted from private or workplace pensions through PAYE. Online guidance at on who might need to pay tax on their pension also includes a handy tool to calculate how much tax someone might need to pay, and the different ways this can be done. The latest State Pension Triple Lock predictions show the following projected annual increases: 2025/26 - 4.1%, the forecast was 4% 2026/27 - 2.5% 2027/28 - 2.5% 2028/29 - 2.5% 2029/30 - 2.5% State Pension payments 2025/26 Full New State Pension Weekly payment: £230.25 Four-weekly payment: £921 Annual amount: £11,973 Full Basic State Pension Weekly payment: £176.45 Four-weekly payment: £705.80 Annual amount: £9,175 Future new State Pension forecasts Under a 2.5 per cent increase, the full New State Pension will be worth: 2026/27 - £236 per week, £12,227.30 a year 2027/28 - £241.90 per week, £12,578.80 a year What is taxed Guidance on states: 'You pay tax if your total annual income adds up to more than your Personal Allowance. Find out about your Personal Allowance and Income Tax rates. Your total income could include: the State Pension you get - Basic or New State Pension Additional State Pension a private pension (workplace or personal) - you can take some of this tax-free earnings from employment or self-employment any taxable benefits you get any other income, such as money from investments, property or savings Check if you have to pay tax on your pension Before you can check, you will need to know: if you have a State Pension or a private pension how much State Pension and private pension income you will get this tax year (April 6 to April 5) the amount of any other taxable income you'll get this tax year (for example, from employment or state benefits) You cannot use this tool if you get: any foreign income Marriage Allowance Blind Person's Allowance Use this online tool at to check if you have to pay tax on your pension. The full guide to tax when you get a pension can be found on here.
News18
20-05-2025
- Business
- News18
India Post GDS Salary 2025: Pay Scale, Allowances And Other Benefits
Last Updated: India Post GDS 3rd Merit List 2025 is out at Selected candidates must report for document verification to their divisional head by June 3, 2025. India Post GDS 3rd Merit List 2025: The Indian Postal Department has released the third merit list for the India Post GDS Recruitment 2025. Candidates who applied for the Gramin Dak Sevak (GDS) posts can now check their selection status on the official website. The list, published on May 19, 2025, features the names of shortlisted candidates who are now eligible for document verification and subsequent stages. This year, the recruitment drive aims to fill 21,413 GDS vacancies across various states and union territories. The process began with the release of the official notification on February 10, 2025, and the online application window remained open till March 3, 2025. The posts are open to candidates who have passed Class 10 (matriculation) and possess knowledge of the local language of the concerned postal circle. The starting monthly salary for India Post GDS roles begins at Rs 10,000 for ABPM and Dak Sevak, and Rs 12,000 for BPM. The salary is calculated based on the number of working hours, as defined under the Time Related Continuity Allowance (TRCA), along with the Dearness Allowance (DA). These components together determine the total monthly pay for Gramin Dak Sevak (GDS), Branch Postmaster (BPM), and Assistant Branch Postmaster (ABPM). First Published: May 20, 2025, 14:14 IST
