Women seek scrapping of Section 17 of CrPc

Subject :Polity

A women’s group demanded the repeal of Section 197 of the Code of Criminal Procedure along with AFSPA Act.

Section 197 of CrPc

As per provisions of section 197 of CrPc, a sanction is required from the competent authority to prosecute public servants if an act they are alleged to have committed directly concerns their official duty.
The authority is required to consider all the material presented to it before deciding on whether a sanction to prosecute the person can be recommended.
This protection is also not available to the employees of Public Sector Enterprise (PSEs), as such persons cannot be brought within the ambit of Section 197 of Cr. P.C. even though PSEs constitute ”State” within the meaning of the Article 12 of the Constitution (Mohd. Hadi Raja vs State Of Bihar And Anr, 1998).

Banks to report every penny paid as interest to depositor

The Income Tax department has notified that effective January 5, each bank, financial institution and post office has to report every rupee of interest paid to a depositor. “
The information is to be reported for all account/deposit holders where any interest exceeds zero per account in the financial year, excluding Jan Dhan accounts according to the notification.
The limit earlier was set at ₹5,000 per person per financial year. The move will help in widening the tax base and plug the leakages.
However, this will not have any impact on the exemption available under Section 80TTA and Section 80 TTB of the Income tax Act.

Section 80TTA of the Income Tax Act, 1961

Section 80TTA of the Income Tax Act, 1961 addresses the tax deductions for interest payments.
Interest on savings accounts maintained by individuals (excluding senior citizen) or Hindu Undivided Families (HUF) is subject to this deduction.
10,000 rupees is the maximum deduction that can be made for all savings accounts.
Eligibility Criteria of Section 80TTA
The organizations listed below are eligible to deduct interest on all of their savings bank and post office accounts under Section 80TTA.
HUF (Hindu Undivided Family)
Individuals (excluding Senior Citizens)
NRIs (Non-Resident Indians).

Section 80TTB under the Income Tax Act

A taxpayer who is a resident senior citizen and is 60 years of age or older can avail benefits under Section 80TTB.
At any point during a Financial Year (FY), a senior citizen may deduct a certain amount from his gross total income up to 50000 for that FY under Section 80TTB.
Eligibility Criteria of Section 80TTB
The following people are qualified for Section 80TTB deductions:
Taxpayers who fall under the senior citizen category (people aged above 60 years)
Individuals from India
Seniors with savings, fixed-deposit, or recurring deposit accounts
A person holding the aforementioned accounts at cooperative societies, banks, or post offices.