7th Pay Commission: That time of the year has begun for which government employees and pensioners eagerly wait. Government employees wait for Holi gifts. If media reports are to be believed, the government may increase the Dearness Allowance-DA (Dearness Allowance-DA) of the employees before Holi.
7th Pay Commission: That time of the year has begun for which government employees and pensioners eagerly wait. Government employees expect a Holi gift from the government, that is, dearness allowance. If media reports are to be believed, the government may increase the DA ie Dearness Allowance-DA of the employees before Holi. The government can increase the dearness allowance from 38 percent to 42 percent. The government will implement these new rates from January 1, 2023.
Government will increase dearness relief
Along with dearness allowance, the central government will also increase Dearness Relief (DR). Dearness relief is given to the pensioners to deal with inflation and dearness allowance is given by the government to protect the employees from rising inflation. This will benefit lakhs of employees and pensioners of the country.
Salary and pension will increase so much
Right now the DA of the employees is 38 per cent. If there is an increase of 4 percent in it, then it will increase to 42 percent. Suppose if your basic salary is Rs 18,000 per month under Level 1 pay scale, then your DA will increase to Rs 7,560. That is, there will be a total increase of Rs 720 per month in DA. According to 38 per cent DA, the employees are currently getting Rs 6,840 DA. In the same way, the pension received by the pensioners will also increase. His DR is calculated on the basis of basic pension.
The government does revision in DA and DR twice a year.
The government usually revises the rates of DA and DR every six months. It is given due to inflation i.e. to deal with inflation. If you look at the records of the previous years, the government has increased the dearness allowance in January and July. The DA paid to the employees along with the salary comes fully in the taxable income. The Income Tax Act states that the tax liability for DA and salary is required to be disclosed in the return filed.
DA was increased before Diwali last year
The last revision in DA was done on 28 September 2022, which was considered to be applicable from 1 July 2022. The Center had raised DA by four percentage points to 38 per cent based on the percentage increase in the 12-monthly average of the All India Consumer Price Index. Now it is expected to grow by 4 percent again. If this happens, it will become 42 percent.
