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Assocham for raising tax exemption limit to Rs 5 lakh in Budget

Assocham for raising tax exemption limit to Rs 5 lakh in Budget

Finance
NEW DELHI: The basic exemption limit for an individual income tax payee should be raised to Rs 5 lakh from Rs 2.50 lakh at present, in the backdrop of inflationary impact over the years, industry chamber Assocham has said. It has suggested this in a proposal to the government as part of its pre-Budget memorandum. "Considering the inflation over the years, tax exemption limit should be increased from Rs 2,50,000 to Rs 5,00,000," the chamber's memorandum to the Finance Ministry stated. The government is scheduled to present its first full Budget on July 5, for the current financial year. It also suggested that to bring in the necessary parity among salaried and non-salaried tax payers, it is desirable that standard deduction be reinstated in the statute. "About 20 per cent of the gross salar...
Ultimate limit of human endurance found

Ultimate limit of human endurance found

Science
The ultimate limit of human endurance has been worked out by scientists analysing a 3,000 mile run, the Tour de France and other elite events.They showed the cap was 2.5 times the body's resting metabolic rate, or 4,000 calories a day for an average person.Anything higher than that was not sustainable in the long term.The research, by Duke University, also showed pregnant women were endurance specialists, living at nearly the limit of what the human body can cope with.The study started with the Race Across the USA in which athletes ran 3,080 miles from California to Washington DC in 140 days.Competitors were running six marathons a week for months, and scientists were investigating the effect on their bodies. ...
Shrinking public markets limit the playing field for Main Street investors

Shrinking public markets limit the playing field for Main Street investors

Finance
Today's public markets, which were first designed to fill the capital-raising needs of the 19th century, are out of step with capital formation in the 21st century. It's essential to move the markets forward to provide adequate access to investment opportunity for all, and not just a few, investors. Right now, the average investor has little or no access to where the real action is. Why is this happening? Because the public capital markets continue to shrink in the Western world. In the last 20 years, the U.S. stock market has undergone an alarming ch...
Rent-to-own cap to limit product and credit costs

Rent-to-own cap to limit product and credit costs

Business
The City watchdog says a planned cap on rent-to-own charges will place limits on the cost of the product and accompanying credit. The Financial Conduct Authority (FCA) said the crackdown, first reported by Sky News on Wednesday evening and similar in nature to that imposed on the payday lending sector, would be applied from April.Its proposals, if enacted following a consultation, would collectively save consumers - many of them the most financially vulnerable in the UK - almost £23m annually, the regulator said.The rules would mean credit charges not exceeding the cost of the product. Image: The cap will cover the amounts that can be charged for household appliances bought on credit To help ensure prices are fair...
Japan medical school confirms altering scores to limit women

Japan medical school confirms altering scores to limit women

Health
A Tokyo medical school apologized Tuesday after an internal investigation confirmed that it altered entrance exam scores for years to limit the number of female students and ensure more men became doctors. Tokyo Medical University manipulated all entrance exam results starting in 2006 or even earlier, according to findings released by lawyers involved in the investigation, confirming recent reports in Japanese media. The school said the manipulation should not have occurred and would not in the future. It said it would consider retroactively admitting those who otherwise would have passed the exams, although it did not explain how it would do so. The initial media reports on the scandal said the manipulation removed as much as 10 percent of female applicants in some years. The manipulati...