Tag: additional

  • Pensionable Age Cut: Will the age for additional pension for retired employees be reduced? know latest update


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    Pensionable Age Cut: The government has assured that the payment of additional pension is made automatically through banks and pension distribution agencies. Instructions are also issued from time to time to avoid any delay or disturbance in this.

    There has been a long standing demand to reduce the existing age limit for additional pension to retired central employees. However, the government has once again clarified its stand on this matter. The central government said that there is no plan to reduce the minimum age eligibility for additional pension to retired central employees.

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    There is no approval for reducing the minimum age limit for additional pension
    The central government has made it clear that the minimum age for additional pension will remain 80 years. In response to a question asked in the Lok Sabha, the government said that there was a proposal to increase this limit to 65 years, but it has not been approved.

    An MP asked whether the government was considering reducing the age limit to 65 years as recommended by the Parliamentary Standing Committee on Pensioners’ Grievances and, if so, sought details about it.

    In response to this question, Union Minister of State for Personnel Jitendra Singh said in the Lok Sabha that on the recommendation of the Sixth Pay Commission, the government has approved 20% additional pension at the age of 80 years, 30% at the age of 85 years, 40% at the age of 90 years, 50% at the age of 95 years and 100% at the age of 100 years.

    He said that as age increases, especially health-related needs also increase, so provision for additional pension has been made. But there is no plan to reduce the minimum age eligibility for additional pension.

    Will the rules on additional pension age change for central government employees?
    The Parliamentary Standing Committee had recommended giving additional pension from the age of 65 in 2021. The government considered it and also submitted its report in 2022. After this, the committee decided not to pursue the issue further. That is, at present the government has no plans to reduce the minimum age eligibility.

    How are central government pensioners paid?

    The government has assured that the payment of additional pension is done automatically through banks and pension distribution agencies. Instructions are also issued from time to time to avoid any delay or disturbance in this.

    How will the impact of rising inflation on pension be reduced?

    Dearness Relief (DR) is given to pensioners, which applies to both their basic pension and additional pension. Its rate is the same as that of Dearness Allowance (DA).

    Possibility of change in pensionable age in future?

    At present, the government does not intend to make any changes in this rule. But in view of the rising inflation and cost of living, the government will keep an eye on this issue. It is clear from this decision of the government that one should not expect to get additional pension before the age of 80 years. At present, Dearness Allowance is the only support for retired central employees, through which they can get some relief.

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  • TDS on Salary: Big relief for employed! No additional Tax will have to be Paid from January 2025


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    TDS on salary: The central government has made it mandatory for employers to pass on the benefit of TDS/TCS deducted on non-salary income while calculating TDS to be deducted from salary from October 1, 2024. Adjusting the tax already paid by way of TDS/TCS on non-salaried income while deducting TDS from salary can reduce the TDS liability for a salaried employee.

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    This amendment was introduced to reduce the cases of excess TDS being deducted from salary income. While the law was already implemented and the necessary back end technical infrastructure update took time. Proteus (formerly NSDL e-Governance) has informed that the necessary changes have been made in the TDS software from December 27, 2024 and now the TDS certificate will start reflecting the updated changes for the TDS statement of the fourth quarter of 2024-25.

    Salaried employees will get benefits from January 2025 

    In an Economic Times report, experts said that salaried employees may be eligible for normal TDS deduction instead of additional deduction. While additional TDS deduction has stopped from October 1, 2024, and TDS certificates from January 2025 will start showing its effect from the fourth quarter of FY 2024-25.

    Understand the complete calculation here 

    Before October 1, 2024, salaried employees had to pay TDS twice on non-salary income. For example, your salary is Rs 10 lakh and other income from which TDS or TCS is deducted or collected is Rs 5 lakh. So earlier employers had to deduct full TDS on income of Rs 15 lakh, even if TDS or TCS was deducted or collected from that Rs 5 lakh income.

    Now after this amendment, TDS will be deducted on Rs 15 lakh after giving the benefit of TDS/TCS already deducted or collected by the employer on that Rs 5 lakh income. Hence, the overall TDS amount to be deducted will be reduced.

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    Jyoti

    Jyoti , has 2 years of experience in writing Finance Content, Entertainment news, Cricket and more. She has done BA in English. She loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com

  • Air India to expand fleet with 100 additional Airbus Aircraft

    Air India buying 100 more Airbus planes

    IANS

    Air India  has made a significant move that underscores the country’s burgeoning aviation sector. On December 9, the airline confirmed the purchase of 100 additional Airbus aircraft. This order includes 10 widebody A350 and 90 narrowbody A320 aircraft, inclusive of A321neo. This latest acquisition is in addition to the firm orders of 470 aircraft that Air India had placed with Airbus and Boeing last year.

    The new order takes the total number of aircraft that Air India ordered with Airbus in 2023 from 250 aircraft, comprising 40 A350 and 210 A320 Family aircraft, to 350. This move is a testament to the airline’s commitment to expanding its fleet and enhancing its services to meet the growing demand for air travel in India and beyond.

    In addition to expanding its fleet, Air India has also selected Airbus’ Flight Hour Services-Component (FHS-C) to support the maintenance requirements of its growing A350 fleet. The new materials and maintenance contract will help Air India optimize the reliability and performance of its A350 fleet, with comprehensive engineering services and integrated component services including on-site stock at Delhi  provided by Airbus.

    Air India

    IANS

    Tata Sona and Air India Chairman Natarajan Chandrasekaran expressed optimism about the airline’s growth trajectory, stating, With India’s passenger growth outpacing the rest of the world…These additional 100 Airbus aircraft will help to position Air India on the path to greater growth and contribute to building Air India into a world-class airline that connects India to every corner of the world.

    Airbus CEO Guillaume Faury echoed these sentiments, stating, Having personally witnessed the formidable growth of the Indian aviation sector in recent months, I am glad to see Air India renew its trust in Airbus with this additional order for both our A320 Family and A350 aircraft.

    With the order for 100 additional aircraft, Air India currently has a total of 344 new aircraft incoming from Airbus, having received six A350s so far. In 2023, Air India had also placed orders for 220 widebody and narrowbody aircraft with Boeing, of which 185 aircraft remain to be delivered.

    Air India is the first Indian airline to operate the Airbus A350, powered by Rolls-Royce Trent XWB engines. Delivering exceptional fuel efficiency, passenger comfort, and long-range capabilities, the A350s now offer an all-new Air India flying experience to travelers flying non-stop from Delhi to London and New York. The A320 Family fleet, powered by CFM LEAP 1-A engines, is a backbone of Air India’s domestic and short-haul operations, delivering world-class flying experiences as well as remarkable operational efficiency and flight economics.

  • Additional Opportunity to Take JEE Advanced: A Game-Changer for Aspirants

    The move will be particularly beneficial for underprivileged and rural aspirants

    JEE Advanced is the most sought-after and most challenging entrance exams in India and so far aspirants were allowed only two chances to take this examination. It seems, though, that those days are gone, as students will be given a third chance now to clear the entrance and, thereby, gain admission to the IITs. However, in a path-breaking progressive and inclusive move, the examination authorities have declared an additional attempt for students to be able to appear for JEE Advanced, thus increasing the number of attempts to three. Such successive attempts would definitely have helped the more disadvantaged and rural learners who got far behind in preparation for various reasons. The additional attempt in JEE Advanced is a game-changer for JEE aspirants and could change the very outlook about the possibility of their being a success story.

    Breaking Barriers to Quality Education for Underprivileged and Rural Students

    Quality education and related resources are essentially barriers towards underprivileged or rural students. There are many bright students who lose opportunities solely because of a lack of resources, awareness, or guidance:
    Lack of Awareness: A lot of students and parents in rural areas do not know about the examination like JEE Advanced. Because of this ignorance, they generally go in unprepared or miss the critical time to prepare when they take it for the first time. Usually, the rural areas have limited resources such as counselling, quality educational materials, and proper study environments. Most students get disadvantaged by such imbalances and may never realize their potential since they only have two chances. Additional attempt of JEE Advanced will prove to be a lifeline for many of them, who, because of their circumstances, were not able to prepare to the fullest in the previous two attempts. The third attempt gives them more time to better their knowledge, enhance their confidence, and play on a level playing field.

    Third attempt boost aspirations and determination among aspirants

    The additional attempt is not only about providing equal opportunities as it’s about encouraging students and giving them the chance to be revitalized. Now, a student has three chances to give it his best shot towards the goal. It gives aspirants:

    Reduced Pressure: This makes them less worried of failing in a first attempt since they have a second chance. This reduction in pressure can bring a significant improvement into their mental states and concentration and enable them to deliver even better.

    Chance for Improvement: Every trial teaches them something about their areas of weakness and strength. The third chance gives the students more time to correct and improve upon the aspects for which they failed in the past. This will benefit the aspirants of all backgrounds and not just to the rural or underprivileged ones. They are confident to have another chance at realizing their goal, hence making them try much harder and hold on longer.

    Like NEET-UG, aspirants will get additional opportunity for JEE Advanced

    Just like the NEET UG exam, where aspirants are given multiple attempts, JEE Advanced will now also offer additional opportunities, allowing candidates to reappear for the examination. This move is set to benefit JEE Advanced aspirants significantly, providing them with one more chance to showcase their abilities and improve their scores. For students who may not have performed their best in their previous attempts due to various reasons—whether it be exam pressure, health issues, or lack of preparedness—this extra attempt is invaluable. It not only reduces the stress of needing to succeed within just two tries but also opens up a new opportunity for students to refine their knowledge, strengthen their weak areas, and approach the exam with increased confidence.

    A Sense of Relief in JEE Main Participation

    As JEE Main is the qualifying examination for the candidates to sit for JEE Advanced, another chance in JEE Advanced would also encourage more students to attempt JEE Main as well. Here is how this impacts the entire landscape of the JEE exam:

    – More Participation in JEE Main: The students who would have lost heart and moved back after failing twice will now get a second chance to prepare well for JEE Main. This might increase the participation with the number of candidates proceeding from it to JEE Advanced, which will eventually make the exam more challenging and competitive too.

    -Increased Performance in JEE Main: Most students aiming for third attempt at JEE Advanced would prepare harder for JEE Main and thereby be better prepared and their performance will also remain good, thus adding the element of motivation and preventing many students from dropping out after one or two attempts, so that increased scores and a good base for facing the challenge of JEE Advanced would be ensured.

    A Step towards Educational Equity

    The provision of more attempts at JEE Advanced is a step forward for a more balanced and broader educational system. The move by the authority to give extra chances to those students from disadvantaged or rural backgrounds will really enable underprivileged people to join the field on an equal footing with other people. More attempts might be the very difference many students are desperately craving to cross the barrier of limited opportunities in order to realize their dreams.

    This means more chances not only to individual students but also a strengthening of overall competitive spirit and quality of future engineers in India. More students from diverse socioeconomic strata will now be able to dream bigger, work harder, and aim higher. It is a hope-driven, equitable, and a talent nurturing policy decision.

  • Colombian Trade Deficit grows adding additional pressure on the Colombian peso

    Market Analysis by Quasar Elizundia,  Expert Research Strategist at Pepperstone

    – October 21, 2024 –

    “The Colombian peso remains under pressure, reflecting a complicated economic scenario both domestically and internationally. Following the release of the latest trade balance data, the currency has fallen to its lowest level since October 2023 against the US dollar, highlighting the economic uncertainty facing the country. In August 2024, Colombia’s trade deficit reached USD 1.688 billion, its worst level since early 2023, expanding compared to the same period last year. This gap was mainly driven by a 4.6% increase in imports, while exports fell by 2.5%, marking the eighteenth decline in the last twenty months. Sales of fuels and extractive products, key sectors for the economy, recorded a 14.4% drop.

    This deterioration in the trade balance, along with the slowdown in key economic sectors such as agriculture, manufacturing, and services, has increased the pressure on the Colombian peso. The Economic Monitoring Indicator (ISE) reported an annual growth of 2.02% in August, representing a deceleration from the 3.68% recorded the previous month. Moreover, consumer confidence remains negative, falling to -16 points in September 2024, its lowest level of the year. This trend extends the pessimism in Colombians’ economic perception, which has persisted for several years.

    Internationally, expectations of a potential return of Donald Trump to the White House have strengthened the US dollar. Markets anticipate that fiscal and trade policies could keep inflation high in the United States, forcing the Federal Reserve to maintain interest rates at elevated levels. This combination of domestic and international factors suggests that pressure on the Colombian peso may persist in the short and medium term.”


    Neel Achary

  • US Embassy to provide 2.5 lakh additional visa appointments to Indian travellers

    The US Embassy in India has given good news to Indian travelers who want to visit the US. It has opened an additional 250,000 visa appointments for Indian travelers including tourists, skilled workers and students. These new slots will help millions of Indian applicants to get interviews on time. This will make the travel of Indian travelers more convenient.

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    The number of people going to America from India is quite high. Most of these people go for studies, work or to travel. But, sometimes the demand for visa becomes very high. Due to this many people have to cancel their plans.

    However, now the US Embassy in India has given good news to those Indian travelers who want to visit the US. It has opened an additional 250,000 visa appointments for Indian travelers including tourists, skilled workers and students.

    These new slots will help lakhs of Indian applicants to give interviews on time. This will make travel more convenient. The US Embassy in India says that this will help strengthen India-US relations.

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    Jyoti

    Jyoti , has 2 years of experience in writing Finance Content, Entertainment news, Cricket and more. She has done BA in English. She loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @rightsofemployeescom@gmail.com

  • SmartTOP Additional Top Control for McLaren 600LT Spider Now Available

    Las Vegas, NV, September 21, 2024 –– Mods4cars now also offers a retrofittable SmartTOP convertible top control for the McLaren 600LT Spider. The 12C, 650S, 570S and 675LT models are already supported. The SmartTOP module is added to the vehicle and makes everyday life in the convertible easier with its clever additional functions.

    Among other things, the SmartTOP module enables one-touch operation of the convertible top. “The interior button no longer needs to be held down during the entire movement of the top. A quick tap of the button is all it takes and the top movement is carried out automatically,” explains PR spokesman Sven Tornow. This means that SmartTOP customers quickly have both hands on the steering wheel again.

    In addition, the top can be operated fully automatically from a distance using the original key fob remote. By pressing a button combination on the key, the soft top movement is set in motion. “Our customers can open the top as they approach the vehicle,” continues Sven Tornow. The existing vehicle key fob does not need to be changed for this.

    Like every SmartTOP, the comfort module for the McLaren 600LT Spider also offers useful additional functions: The windows can be opened and closed by remote. One-touch operation of the wind deflector is possible. If desired, the operating direction of the convertible top button can be reversed. The current movement of the top is not interrupted by starting or switching off the engine. The module can be deactivated at any time.

    All functions of the SmartTOP module can be programmed according to personal preferences. A USB port on the SmartTOP enables connection to a PC/Mac. The SmartTOP module can be conveniently configured and software updates, which are provided free of charge by Mods4cars, can be installed.

    The scope of delivery includes a plug-and-play installation kit with plugs in OEM quality, which ensures simple installation. The connection between the SmartTOP module and the vehicle electronics is established by simply plugging them together. No cables need to be cut, which is why it can be removed at any time without leaving a trace.

    The SmartTOP convertible top control for the McLaren 600LT Spider is available for 399.00 Euro + tax.

    Mods4cars has been manufacturing its SmartTOP top controls since 2001 for Alfa, Audi, Bentley, BMW, Chevrolet, Ferrari, Ford, Infiniti, Jaguar, Lamborghini, Land Rover, Maserati, Mazda, McLaren, Mercedes-Benz, Mini, Nissan, Opel, Peugeot, Porsche, Renault, Volkswagen and Volvo. All current convertible and roadster models are supported.


    Praveen

  • NIIF gets CCI’s clearance to buy additional stake in Ather

    New Delhi: The Competition Commission of India has approved the National Investment and Infrastructure Fund’s (NIIF) proposal to acquire an additional stake in Ather Energy.

    The deal was cleared by the competition watchdog under the green channel route. “The acquirer (India-Japan Fund) proposes to acquire certain Series G Compulsorily Convertible Preference Shares of Ather,” the regulator said in an order. India-Japan Fund (IJF) is a fund managed by NIIF. The fund focuses on investing in environmental sustainability, and low-carbon emission strategies and promoting investments by Japanese companies in India.

    The transaction will help IJF further its goals by creating value for the broader market for electric two-wheelers, clean mobility transport solutions, and technology-led last-mile transport vehicles, it added.

  • Middle East conflict: US to send additional jets, warships as Iran threatens Israel

    US to send additional jets, warships amid Middle East tension
    US to send additional jets, warships as Iran threatens Israel. Photo Courtesy: Wikimedia Commons

    The United States will send additional jets and warships to the Middle East amid escalating tension in the region following the assassination of Hamas leader Ismail Haniyeh in Iran.

    Tensions mounted after Iran’s leader Ayatollah Khamenei vowed ‘harsh punishment’ against Israel following the death of the Hamas political leader.

    Though Israel did not comment on the issue, Iran blamed the country for the attack.

    The Hamas leader’s death was announced just hours after Israel said its security forces killed Hezbollah’s most senior military commander Fuad Shukr “Sayyid Muhsan”.

    Speaking on the fresh deployment, Pentagon spokesperson Sabrina Singh said in a statement: “To that end, Secretary Austin (United States Defense Secretary Lloyd Austin) has ordered adjustments to U.S. military posture designed to improve U.S. force protection, to increase support for the defense of Israel, and to ensure the United States is prepared to respond to various contingencies.”

    The statement said to maintain a carrier strike group presence in the Middle East, the Secretary has ordered the USS Abraham Lincoln Carrier Strike Group to replace the USS Theodore Roosevelt Carrier Strike Group, currently on deployment in the Central Command area of responsibility.  

    Additionally, Secretary Austin has ordered additional ballistic missile defence-capable cruisers and destroyers to the U.S. European Command and U.S. Central Command regions.

    “The Department is also taking steps to increase our readiness to deploy additional land-based ballistic missile defense,” the statement said.

    The Secretary has also ordered the deployment of an additional fighter squadron to the Middle East, reinforcing US’ defensive air support capability.

    The Middle East region became tensed after Hamas attacked Israel on October 7 last year and killed 1,200 people.

    Israel responded by launching the ongoing military operation in Gaza. 

  • Mobile tariff hike may result in Rs 20,000 cr additional operating profits for telcos: Experts

    Mobile tariff hike may result in Rs 20,000 cr additional operating profits for telcos:

    IANS

    The newest spherical of 15-20 per cent cell tariff hikes for pay as you go and postpaid plans by telecom service suppliers (TSPs) can result in additional operating profits of round Rs 20,000 crore for the business as soon as these hikes are absolutely absorbed, business specialists mentioned on Friday.

    Bharti Airtel and Reliance Jio are more likely to witness a big common income per person (ARPU) profit after the tariff hike.

    Vodafone Idea is but to implement the cell tariff hike. “This will result in elevated revenue era, thereby offering headroom for the business to undertake deleveraging in addition to fund capex for the know-how improve in addition to community enlargement,” mentioned Ankit Jain, Vice President and Sector Head of Corporate Ratings, ICRA.

    ICRA expects the business revenues to develop by 12-14 per cent in FY25, which given the operating leverage, is more likely to translate into wholesome enlargement in operating profits by 14-16 per cent.

    The telecom business is more likely to report revenues of Rs 3.2-3.3 lakh crore with operating profits of Rs 1.6-1.7 lakh crore in FY25.

    Mobile operators

    “The enchancment in operating profits coupled with the muted participation in the newest spectrum auctions and anticipated moderation in the capex depth, the debt ranges are anticipated to reasonable to round Rs 6.2-6.3 lakh crore as on March 31, 2025, with the expectation of additional decline going ahead,” mentioned ICRA.

    According to a be aware by Morgan Stanley, we anticipate different gamers, together with Bharti Airtel, to observe and announce worth will increase quickly for 4G subscribers.

    “We estimate that blended ARPU would profit in the vary of 16-18 per cent for Bharti Airtel and Reliance Jio,” mentioned the be aware.

    (With inputs from IANS)