Pakistan Adds 26/11 Mastermind Hafiz Saeed To Exit Control List

Finance Minister Arun Jaitley in Union Budget 2017 slashed the income tax rate for individuals in the lowest income tax slab to 5 per cent, a move which will also benefit individuals in higher tax brackets. But tax experts who were expecting a hike in Section 80C limit were a bit disappointed. “The limit of Section 80C (of the Income Tax Act) could have been increased from Rs. 1.5 lakh to Rs. 2 lakh in this Budget as the existing limit is not sufficient to cover various payments like PF, insurance, tuition fees, etc. Further, the cap on certain allowances like, children education allowance, medical reimbursements and hostel allowance have been fixed a long time ago. It could have been increased in this Budget,” said Rakesh Bhargava, director of Taxmann.

Here are 10 things to know about the proposed changes in tax laws for individuals:

1) Mr Jaitley reduced income tax rate on income between Rs. 2.5 lakh and Rs. 5 lakh to 5 per cent from 10 per cent. However, he reduced Section 87A rebate from Rs. 5,000 to Rs. 2,500. And no rebate will be applicable for taxpayers having income above Rs. 3.5 lakh.
2) This means tax savings of up to Rs. 7,700 for people with taxable income between Rs. 3 lakh and Rs. 5 lakh. And for persons with taxable income between 5 lakh and Rs. 50 lakh, tax savings of Rs. 12,900. A 10 per cent surcharge has been proposed for individuals having income ranging from Rs. 50 lakh to Rs. 1 crore. (Existing surcharge of 15 per cent will remain same for NEW DELHI: Pakistan has added 26/11 mastermind Hafiz Saeed to its Exit Control List, which restricts foreign travel. At the same time, it has also asked India to come up with “concrete evidence” against the Jamaat-ud-Daawa (JuD) chief, saying New Delhi has “constantly been using Saeed’s political activities” as a tool to malign its neighbour.

Pakistan’s interior ministry statement calling for evidence came around the same time that Islamabad placed the terror mastermind and 37 others in the list that prevents them from travelling abroad

JuD is the front organisation of the terror group Lashkar-e-Taiba.

Islamabad had placed Saeed under house arrest in Lahore this week, a move that the Pakistan army had called the government’s “policy decision”. Saeed – who has a bounty of $ 10 million on his head – attributed his detention to the rapport between the US President Donald Trump and Prime Minister Narendra Modi.

But the detention – that led to protests by Jamaat Ud Dawaa – did not impress New Delhi that recalled previous instances when Saeed was detained, and later let off. India said nothing less than a “credible crackdown” on terror outfits would demonstrate Pakistan’s sincerity.
A Pakistan interior ministry statement hit back at India for questioning its sincerity, insisting that New Delhi furnish the evidence needed to make a case against Saeed that would withstand judicial scrutiny.

“India has constantly been using Saeed’s political activities as a tool to malign Pakistan. The international community should take note and understand that Pakistan is a democratic society where judiciary takes free, independent and transparent decisions,” a PTI report said, quoting a Pakistani interior ministry spokesperson.

“If indeed India is serious about its allegations, it should come up with concrete evidence against Hafiz Saeed which is sustainable in court of law in Pakistan or for that matter anywhere in the world,” he said. The statement effectively lobs the ball for ensuring Saeed’s prosecution in India’s court.

Source:-NDTV

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Posted on February 2, 2017, in Uncategorized and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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