Government has enhanced Pay and Allowances of Member of Parliament.
The Joint Committee of the houses of parliament after consultation with the Central Government has notified the increase in the Constituency Allowance for Members of Parliament with effect from the 1st April, 2023 on the basis of Cost Inflation Index provided under clause (v) of Explanation to section 48 of the Income-tax Act, 1961.
The existing and revised allowances with retrospective effect are as under:
|
S. No. |
Head |
Existing Rate with effect from 1st April, 2018 |
Revised Rate with effect from 1st April, 2023 |
|
1. |
Constituency Allowance |
Rs. 70000/- p.m. |
Rs. 87000/- p.m. |
|
2. |
Office Expense Allowance (i) Computer Literate Person (ii) Stationary items |
 Rs. 40000/- p.m. Rs. 20000/- p.m. |
 Rs. 50000/- p.m. Rs. 25000/- p.m. |
|
3. |
Monetary Ceiling for Furniture (one time during tenure) (i) Durable (ii) Non-durable |
  Rs. 80000/- p.m. Rs. 20000/- p.m. |
  Rs. 100000/- p.m. Rs. 25000/- p.m. |
Thus, total increase comes to Rs. 57000/- p.m. or Rs. 684000/- annually.
Download Notification Click Here >>
- During pendency before settlement commission, assessee have right to contest assessment
- Entire amount of undisclosed money cannot be treated income but only profit embedded
- Penalty confirmed as loading point of the goods was different as declared in E- Way Bill
- Notice u/s 143(2) send by email fifty seconds before signing by AO not a legal notice
- Amount shown payable & receivable by both parties, not unexplained money – ITAT
