Meal Plan Exemption Policy: Fill & Download for Free

Should you avoid WIC-eligible supermarket items during shortages if you can afford to buy another brand?You must not understand how it works?WIC eligible items are mainly brand-name products not generics. Generics are produced by the same big food companies except with possibly lower quality ingredients that the consumer cannot taste the diffference.For a normally frugal shopper, the generic may be cheaper per ounce stretching your dollar for a larger size. However, USDA is a nation-wide program that has to make sure the items on the list are widely available:Therefore, individual states set thier WIC shopping lists.Items have to meet the nutrition facts per serving size to create a nutritious monthly meal plan.Shoppers usually own have a choice of non processed foods: fruits, vegetables, raw beans, and dairy.WIC Food Packages - Regulatory Requirements for WIC-Eligible FoodsThe following list provides the Federal requirements for WIC-eligible foods. USDA requirements for WIC-eligible foods can be found in 7 CFR Part 246.10 and WIC Policy Memorandum #2015-3, . . . WIC state agencies must use these requirements when authorizing foods on the state WIC food list. However, state agencies do not have to authorize all foods that meet WIC-eligibility requirements.The following WIC foods must also comply with Food and Drug Administration (FDA) Standards of Identity: infant formula, exempt infant formula, milks, cheese, fruit and vegetable juices, shell eggs, canned/frozen fruits and vegetables, whole wheat bread, canned fish, and peanut butter. Standards of identity define what a given food product is, its name, and the ingredients that must be used, or may be used in the manufacture of the food. To view the Standards of Identity for these foods, visit the FDA web site at CFR - Code of Federal Regulations Title 21RELATEDWIC ApprovedWIC Food Packages - Regulatory Requirements for WIC-Eligible Foods | USDAi-FNSLinks to State Agency WIC-Approved Food ListsSOURCE: View the Tennessee WIC Food List

By Proper Investment it can be made Rs. Zero, Yes Tax Payable= Zero RupeePlease Refer below Article by CA Chirag Chauhan(expertmile.com)The Article gives you brief idea on how to save tax and at the same time make proper investment and cover insurance and Medical expenses risk.Investment in 80C for Purpose of taking full benefit of 1.5 LakhsDeduction under 80C is related to deduction that an individual can deduct from his gross taxable income in order to reduce his tax liability by investing in specified investment. It is applicable to individuals and HUF. An assessee can get deduction under section 80C upto a maximum of Rs.150000.The qualifying investments and expenditure as deduction under 80C are investment in Insurance Policy, Post Office Time Deposit Account, Investment in Equity Linked Saving Scheme (Mutual Funds), Public Provident Fund, National Saving Certificate, Tuition Fees Paid, Bank Fixed Time Deposit, Repayment of Principal of Housing Loan, SukannyaSamriddhi account.2.Investment in National Pension Scheme up to Rs 2 LakhsFinance Minister ArunJaitley in Budget 2015-16 introduced an additional income tax deduction of Rs. 50,000 for contribution to the New Pension Scheme (NPS) under Section 80CCD. NPS is a voluntary pension scheme, which is regulated by the Pension Fund Regulatory and Development Authority.This extra deduction of Rs. 50,000 on NPS will increase the total deduction allowed under Section 80C and 80CCD of Income Tax Act to Rs. 2 lakh. In Budget 2016, the finance minister has made withdrawals from NPS on maturity tax free upto 40% of the total corpus accumulated. Currently, none of the withdrawals were tax-free unlike other competing instruments such as PPF and EPF where the total withdrawal was tax -free. This is a major step towards making the NPS scheme more attractive and bringing it on par with the other EEE pension schemes. The Budget 2016 proposes to provide a uniform tax treatment to the recognised provident fund, national pension system and superannuation fund.It is proposed that 40% of the pension wealth received by an employee from the National Pension System Trust shall be exempt.3.Home Loan Interest and House Rent Allowance (up to Rs 2.5 Lakhs or Rs 60 Thousand)Employess gets HRA as a part of Salary. If the Employee is living in rented accommodation they can Claim HRA benefit and save on taxes. If the Employee is staying with parents in that case too they can pay rent to parents and Claim HRA benefit.For employees who don't get HRA benefits, the FM raised the deduction against house rent from Rs 2,000 per month to Rs 5,000. This would result in tax savings in the range of Rs 3,708 to Rs 12,204, depending on the income slab.Further in Budget 2016 First time home buyers to get additional deduction of Rs 50,000 on interest for loan uptoRs 35 lakh. This additional deduction has been given on interest for loan up to Rs 35 lakh, provided the house value doesn't exceed Rs 50 lakh. For, the 2016-17 Budget proposes tax relief on interest payment on home loan if the property bought, or under construction, is completed within 5 years from the end of the financial year in which the loan was availed instead of the current 3 years.Assuming a loan of Rs 35 lakh to be paid over 20 years, the annual deduction comes to around Rs 2.5 lakh, including the Rs 2 lakh currently available. At 9%, the interest outgo in the first year would be Rs 3.12 lakh. So, the buyer will save Rs 75,000 if he is in the 30% tax-bracket4.Tax Free Medical Allowance and Transport Allowance up to Rs 40 ThousandMedical reimbursement and Transport Reimbursement can be claimed by the employee and it will be taken care in form 16 itself. For Medical Bills Employee needs to submit proof of expenditure incurred.5.Medical insurance for Self, Parents and Dependents up to Rs 50 ThousandPayment of premium on life insurance policy and health insurance policy not only gives insurance cover to a taxpayer but also offers certain tax benefits.Medical insurance premium paid by assessee, being individual/HUF by any mode other than cash.Sum paid by assessee, being individual on account of preventive health check-up. Medical expenditure incurred by assessee, being individual/HUF on the health of a very senior citizen person provided that no amount has been paid to effect or to keep in force an insurance on the health of such person.6.Leave Travel Allowance Up to Rs 25000An LTA is the remuneration paid by an employer for Employee’s travel in the country, when he is on leave with the family or alone. Amount from LTA is tax free. Section 10(5) of the Income-Tax Act, 1961, which provides for the exemption and outlines the conditions subject to which LTA is exempt.7.Reimbursement of Expenses for Mobile, Travel, newspaper as actualsMany employers provide reimbursement ofTravel Expenses, Mobile and Phone Bill and for News Paper. Employee has to submit proof of expenditure.8.Meal Coupons up to Rs 10 thousandIs Food Coupon like Sodexo coupons which are very famous given by employers to employee. Most of time employers and employee are not aware of taxability of food coupon and assume they are exempted.9.Relief under Section 87ABudget has increase the relief under section 87A from Rs 2000/- at present to Rs 5000/-. So effectively if taxable income is less then Rs 5 Lakhs an individual can Claim relief of Rs 5000/- in taxes paid. If we consider 10% slab rate it turnout to be Rs 50000/- as additional benefit which can be claimed in this SectionForm the above Picture it is clear that if the Individual plan in proper manner for the year 2016 -17 financial year he can not only save taxes but can also plan an investment in Resident Property if he is not owing one. For Retirement benefit NPS seems to be better option considering current changes in Budget 2016.Source :Article by CA Chirag Chauhan on https://expertmile.com

Initial Disclaimer: I'm in huge support of Jeremy Corbyn and what he's looking to achieve with the Labour party (but have no affiliation with Labour). If you'd have said to me 3 years ago that I'd be voting Labour then I'd have laughed at you. The truth is, this party has been turned on its head and for the first time in a long time, I feel like one of the major parties in the UK stands for positive change.Here's why I believe you should vote for The Labour Party...1. Their taxation policies:Over the past few years, the Tories have dramatically increased the wealth gap in the UK. The rich have gotten richer, whilst the poor have gotten poorer. This has happened in two ways - the first has been that big businesses and high-income individuals have been getting a free ride when it comes to taxation, and the second is the continued move towards the privatization of the public sector (e.g. NHS funding has reduced enormous amounts, which has seen the quality of care reduced for those that need it the most).Labour plan to create an additional £6.4bn per year by increasing tax rates on those earning over £80k, as well as those earning over £123k.Income tax for £80k+ will be 45%. This a relatively small jump from the current 40%, in fact, it would work out as an extra £333 per month out of a £6,666 paycheck. When you also compare this to some other countries, the Netherlands actually tax 52% at this level and Portugal does 45%. This small change will bring in a huge amount of extra money into the economy that can be used to rebuild the public health and education sector.Not only that, but they’re planning on raising an additional £19.4bn from increases in Corporation Tax. To do this, Labour would raise corporation tax from 19% up to 26%. Sounds pretty big right? Businesses will be running away from the country right? Well, compare this to the US and you’ll see that corporate tax rates come in at around 39.1%. Do you see many businesses running away from the US? No. In fact, it’s quite the opposite.The argument that it will "scare away the rich" is crazy in my mind. As I explained above, the extra taxation will be nominal in the grand scheme of things.2. Security & Health:There's been a lot of talk since the attacks in Manchester about what the government is going to do to increase the security of the country. These are all valid concerns but one thing I keep hearing is the concerns that “Jeremy Corbyn isn’t strong enough to deal with them.”First of all, let’s be clear about something… The Conservative government’s idea of being “Strong and Stable” (as they like to say) involves talking a whole lot about how security is top of their agenda. In reality, since they came into power in 2010, 20,000 police officers have had their jobs taken from them. Instead, they’re continuously investing in the Trident nuclear missile system that has an estimated cost of around £205bn (yes, billion!). The number of individuals within the army itself is set to be at its lowest point in 250 years. Don’t be fooled by the idea that the Tories are “investing in security”, because they’re not.So what are Labour going to do? Well, they’ve pledged to add an additional 10,000 jobs into the police force to start. It’s not just the police that Labour are investing into within the public sector…The Conservatives have all but destroyed the NHS. They’ve chipped away at its funding to the point where it’s been difficult to keep any kind of standards up. This has started to create concern from the general public and frustration at the quality of care that they’re receiving. The Conservatives (the ones removing this budget from the NHS) have then been jumping in to say we should privatize the NHS, ultimately meaning that they will move closer to a system like there is in the US. Now, I’ve personally relocated to the US from the UK and I can tell you one thing… I miss the NHS a lot.In a private healthcare system, you have to pay a bunch for health insurance each month - I think I pay somewhere in the region of $600 per month for this. Now, this doesn’t cover me for everything. If I want to go get a check-up, I still have to pay per appointment. I had a blood test a couple of weeks back that cost around $40, on top of my insurance fees. This adds up. In fact, the average person in the US spends around $10,345 per year on healthcare costs. Makes your monthly national insurance payment seem pretty small, right?Well, this could very much become a reality for the UK if the Conservative government have their way.So what are Labour doing to stop this? The NHS will receive more than £30bn in extra funding over the next parliament. They also plan to remove the NHS pay cap, which basically limits pay rises on healthcare workers to 1% per year - that’s not exactly helping us to recruit the best talent within the sector. In fact, when you take into account the increased cost of living since 2010 (since the Tories came into power) and the pay freezes and caps on pay, NHS workers have effectively seen a 14% drop in wages. These are some of the most important people within our public sector and they’re being rewarded with worsening conditions and decreases in pay.Another nice addition to this is the removal of hospital car parking charges. Anyone that has spent time in a hospital in the UK knows how much these costs can add up. The unfortunate thing here is that it affects low income families the most and can result in the inability to be able to visit sick relatives or friends.3. Education & Quality of LifeThe Tories, and in particular a lot of the policies that came from Michael Gove, have meant that the UK education system has taken a beating. The same story within the rest of the public sector applies here: budget cuts, privatization and the reduction of resources for education workers.Current estimates based on the Conservatives’ plans for education say that around half the schools in England will see cuts of around 6-11% per pupil. On top of that, they’ve planned to completely get rid of free school meals, despite reports that over 3million UK children go hungry in the summer without school meals. This is a blatant attack on low-income families.Labour, on the other hand, doesn’t plan to take away from low-income families. It will keep free school meals (being paid for by removing current VAT exemption that private schools benefit from).They plan to increase the quality of education for children at an early age by reducing classroom sizes to less than 30 pupils for 5, 6 & 7 year olds. On top of this, they’ll be giving 30 hours of free childcare to all 2-year-olds.In my opinion, the best policy by far is the abolishment of university tuition fees and the reintroduction of maintenance grants to support lower income families.A few additional things that Labour will be doing that the Conservative will not:-Raising the minimum wage to £10 per hour.-Putting a complete end to zero hour contracts.-Nationalising all nine of England’s water companies.-Reversing the mess that was the privatisation of Royal Mail.-Reinstating housing benefit for under-21s.-Ensuring that 60% of the UK's energy comes from zero-carbon or renewable sources by 2030.If this isn’t enough to convince you, then I don’t know what else can. All I’d ask is that regardless of WHO you vote for, make sure that you do go out and vote. Even if that vote is for the Tories - your vote matters and you have a voice, so use it.