Category: Other

CONTRACT  LABOUR    Contract Labour was basically provided under The Contract Labour (regulation and abolition) Act, 1970 so that, any extra work or any work which is not of perennial nature may be given to the employees; called Contract Labour. Somehow, the basic purpose of this provision is being defeated to give more protection to…

Our country is rich in human resources. Foreign Direct Investment is principally coming for cheap and economic labour to compete the cost of product, internationally. Unfortunately, white collared in private industries (who are not covered by the Industrial Disputes Act, 1947) are not having specific act to their relief unlike employment laws. The workmen may…

The Finance Minister, Arun Jaitley, unveiled the Union Budget 2018 in the Parliament on 1 February 2018. In the wake of representations received from various stakeholders, while moving the Bill for approval at the Lok Sabha, certain amendments were made. These amendments seek to address certain ambiguities arising from the original proposals as contained in the…

No changes to personal income tax slabs Salaried tax payers to get standard deduction of Rs.40,000 in lieu of transport allowance and “other medical expenses ₹2,000 crore fund for development of agri market All senior citizens will now be able to claim benefit of a deduction of ₹50,000 for any medical insurance For critical illnesses,…

What is LTCG? LTCG or long-term capital gains refer to the gains made on any class of asset held for a particular period of time. In case of equity shares, it refers to the gains made on stocks held for more than one year. In other words, if the shares are bought and held for…

The Reserve Bank of India (RBI) has come out with a revised framework for resolution of bad loans, harmonizing the existing guidelines with the norms specified in the Insolvency and Bankruptcy Code (IBC). The new guidelines have specified framework for early identification and reporting of stressed assets. “In view of the enactment of the Insolvency…

Introduction Indian labour law refers to laws regulating labour in India. India is a federal form of government and because labour is a subject in the concurrent list of the Indian Constitution, labour matters are in the jurisdiction of both central and state governments. Laws have been enacted by both central and state governments on labour relations and…