It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. People earning between Rs 5 lakh and Rs 10 lakh per year may have to pay 10 per cent income tax, if the recommendations of this high-level tax force are accepted. IANS has learnt that radical changes in personal income tax slabs have been proposed.
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These include lowering the personal income tax for those earning between Rs 10 to Rs 20 lakh per year to 20 per cent. Currently, personal income is taxed at 5 per cent for income between Rs 2. Sources close to developments have revealed that the task force has recommended five tax brackets of 5 per cent, 10 per cent, 20 per cent, 30 per cent and 35 per cent, against the prevailing structure of 5 per cent, 20 per cent and 30 per cent. Those earning an annual income up to Rs 5 lakh, however, will get a rebate on the taxes paid, as was announced in the interim budget of by interim Finance Minister Piyush Goyal.
This effectively means that those with an income of up to Rs 5 lakh will be charged zero tax. The report was submitted to Finance Minister Nirmala Sitharaman on August 19, but it has not been made public yet. According to sources, the panel has recommended that income tax for those earning above Rs 20 lakh and till Rs 2 crore, continue to remain at the previous rate of 30 per cent.
It has also proposed introducing a new top tax bracket of 35 per cent for the super-rich, that is those earning above Rs 2 crore in a year, and doing away with the surcharge. The rationalisation in tax slabs has been proposed to boost consumption and revive the economy by putting more money in the pockets of the middle income group.
The panel has also recommended removal of dividend distribution tax and scrapping minimum alternate tax. Further, it wants the government to avoid levying surcharges. Not making enough money in stocks? Click here for real-life stories of successful investors. How new tax changes will impact you. Congratulations to U. Marine Corps Maj.
Air Force Maj. Air Force Staff Sgt.
Task force: a management technique that produces quality decisions and employee commitment.
Jonathan Oliver of Joint Task Force Congratulations to USArmy Lt. Congratulations to USArmy Col. Hester, former Fort Bliss garrison co Kenneth O. Preston, ke Joint Task Force North will host its next blood drive from 9 - a.
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Congratulations to Sotero G. In the late 19th century ships were collected in numbered squadrons , which were assigned to named such as the Asiatic Fleet and later numbered fleets. A task force can be assembled using ships from different divisions and squadrons, without requiring a formal and permanent fleet reorganization, and can be easily dissolved following completion of the operational task.
The task force concept worked very well, and by the end of World War II about task forces had been created in the U. Navy alone [ citation needed ]. In the United States Navy , task forces are generally temporary organizations composed of particular ships, aircraft, submarines, military land forces, or shore service units, assigned to fulfill certain missions.
The emphasis is placed on the individual commander of the unit, and references to "Commander, Task Force" "CTF" are common. In the U. King instituted the system of numbering all fleets, assigning the even numbers to the Atlantic and the odd to the Pacific. The Atlantic Fleet, itself, was designated the Second Fleet.
The United States Navy has used numbered task forces in the same way since The U. Department of Defense often forms a Joint Task Force if the force includes units from other services. Task Force is the U.
Navy's Operational Test and Evaluation Force. The first digit of a task force designation is that of its parent fleet while the second is sequential.
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Task groups within a force are numbered by an additional digit separated from the TF number by a decimal point. Task units within a group are indicated by an additional decimal. For example, "the third task unit of the fifth task group of the second task force of the Sixth Fleet would be numbered This arrangement was typically abbreviated, so references like TF 11 are commonly seen. Earlier in the Second World War , the British Royal Navy had already devised its own system of Forces, they mainly assigned a letter occasionally a number some of the task forces are listed below.
Originally stationed at Malta took part in the Battle of Calabria  in it transferred Trincomalee and was a component of the fast force of the Eastern Fleet during the Indian Ocean raid April to May Part of a number of hunting task groups in 5 October as a prelude to Battle of the River Plate , 13 December based in Freetown it was then stationed at, Malta , took part in the Battle of the Tarigo Convoy , 16 April , was involved in the First Battle of Sirte , 17 December then moved to Freetown in December Which was the composition of the British Pacific Fleet 23 March During the Falklands War in Royal Navy assembled as Task Force to achieve sea and air supremacy in the Total Exclusion Zone , before the amphibious forces arrived.
The French Navy uses the name Task Force to designate any power projection by the sea.