DIWALI BONUS for govt employees! Centre takes this big decision, check all details here
In good news for government employees, the Central government has hiked the monetary limits for accepting gifts for all its employees, relaxing it by more than three-fold. The limit to accept gifts for Groups 'A' and 'B' categories of employees is increased to Rs 5,000 from Rs 1,500.
In good news for government employees, the Central government has hiked the monetary limits for accepting gifts for all its employees, relaxing it by more than three-fold. The limit to accept gifts for Groups 'A' and 'B' categories of employees is increased to Rs 5,000 from Rs 1,500. Similarly, the limit for Group 'C' employees is increased to Rs 2,000 instead of Rs 500.
These new limits have been introduced to bring these employees equal to the Indian Administrative Service, Indian Police Service and Indian Forest Service employees.
This category of gifts includes free transport, boarding, lodging or another pecuniary advantage, a casual meal, lift or other social hospitality is not considered a gift, according to existing rules. Also, the government has removed the limit of Rs 1,000 for government employees to receive gifts from foreign dignitaries.
The gifts received from foreign dignitaries, from known or unknown sources are usually deposited with the 'toshakhana', a repository of such articles.
On occasions such as weddings, anniversaries, funerals or religious functions, when the making of the gift is in conformity with prevailing religious and social practice, a government servant may accept gifts from his near relatives or from his personal friends having no official dealings with him, but shall make a report to the government, if the value of such gift exceeds prescribed threshold limits, the rules state.
(NOTE: Zee Business brings to you an exclusive line up of programming for Diwali 2019 with experts, insights & sharp acumen under Zee Business Damdar Diwali show. A Diwali treat for you only on ZeeBusiness.in!)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
10:48 AM IST