House Penal agrees on Rs.3L Tax exemption

There is now consensus among members of the parliamentary committee on finance which is scrutinising the Direct Taxes Code (DTC) Bill to raise the tax exemption limit to Rs. 3 lakh per annum and the tax-saving investments limit to Rs. 2.5 lakh.

The committee, headed by BJP leader and former finance minister Yashwant Sinha, on Friday met to discuss the bill and there was an agreement to raise tax exemption to give relief to the middle class, which is facing high inflation. Earlier, some members had wanted the tax exemption level raised to Rs. 5 lakh. The standing committee on finance has decided to finalise its report on the DTC by March 2.

Even some Congress members who met Union finance minister Pranab Mukherjee on Thursday for pre-Budget consultations asked for a substantial increase in the tax exemption limit to provide relief to the middle class.

Currently the tax exemption limit is Rs. 1.80 lakh for men and Rs. 1.90 lakh for women. The DTC Bill, which was introduced in Parliament, had proposed that the tax exemption limit be set at Rs. 2 lakh.

The current tax-saving investment limit — which includes investments in provident fund, life insurance, children’s education and infrastructure bonds — is Rs. 1.2 lakh. The committee wants it raised to Rs. 2.5 lakh.
The DTC Bill introduced by the government had raised the tax-saving deduction limit toRs. 3 lakh. The bill proposed that people could invest up to Rs. 1 lakh in long-term saving instruments like provident funds, superannuation funds, gratuity funds and pension funds, and withdrawals from these funds will not be taxed. People can claim tax deduction up toRs. 50,000 on expenses like tuition fees of children, pure life insurance premiums and health insurance payments. The bill had also proposed that Rs. 1.5 lakh interest paid on construction or acquisition of property for self-use could be claimed for tax deduction.
The government had proposed in the bill that there would be a separate deduction for interest on education loans and for payments of expenses of disabled persons.
Five-year bank FDs and ELSS schemes of mutual funds had been removed as tax-saving instruments by the DTC Bill. Profits earned on equity mutual funds held for one year will not be taxed. The government has retained zero long-term capital gains tax on stocks; this means shares held for more than a year will not be taxed.

Sorce:-The Asian Age

Earning up to Rs 5-L salary? No need to file returns

 

Individuals with annual income up to Rs 5 lakh are now exempted from filing personal income tax return for the current financial year. This relief was proposed in the Union Budget last year. However, a circular from the Central Board of Direct Taxes (CBDT) last week indicates that this relief has been extended for this financial year. 

An individual can now file tax returns for this financial year by July 31, 2012. However, the exemption comes with some terms and conditions, which determine the eligibility of an individual to seek the exemption from filing returns. 

Who can seek this exemption 

As per the Notification, only individuals who satisfy the following conditions are eligible for exemption from furnishing the tax return for the tax year 2011-12: 

a) Total income does not exceed Rs 5,00,000. 

b) Total income consists only of income under the following heads: 

Salaries 

'Income from other sources' by way of interest, not exceeding Rs 10,000, from a savings bank account 

Avail an exemption 

Apart from the above conditions, an individual should also fulfill the following conditions to avail an exemption from furnishing tax return with the authorities: 

Report his Permanent Account Number (PAN) to his/her employer 

Report savings bank account interest income to employer and the employer should withhold tax on such interest income 

Employer provides tax withholding certificate (Form 16) to employee which mentions the PAN, details of income and taxes withheld 

There should be no further tax payable by the employee by way of advance tax or self-assessment tax 

No refund claim for the relevant tax year 

The employee should receive salary from only one employer for the tax year


  Who are not eligible for this exemption 

An individual cannot claim an exemption to file the tax return under this notification in the following cases: 

The individual has total income under any head other than 'Salaries' and 'Income from other sources' 

The individual has total income exceeding Rs 5,00,000 for tax year 2011-12 

The individual has not submitted his PAN to his employer 

The individual has interest income other than savings bank account interest income 

The individual has not reported interest income from savings bank account to his employer and discharged his tax liability by way of advance tax or self assessment tax 

The individual has refund claim in the return of income 

The individual has received salary income from more than one employer 

Source:-The Economic Times

6CPC - 1 time increment between Feb & Jun 2006

 

One time increment order [between Feb and June'06] may be issued soon

The order for Granting one increment to the Central Government Employees may be issued in the first week of March 2012.
Sources close to the DOP&T informed that the issue of granting one increment to the government servants, whose increment date falls between February 2006 and June 2006, has been forwarded to Finance Ministry for its approval. According to the sources, the Finance Ministry gave its approval to this proposal as agreed by the Government in the National Anomaly Committee.

The Federations representing National Anomaly Committee approached the Government to issue the order very soon, since the decision of granting one increment to the govt servants was taken in the National Anomaly Committee on 5th January 2012. It is believed that the federations were informed that due to the ongoing Elections for state assemblies in some states, issuing order is delayed. As per the Election Schedule the elections for state assemblies for 5 States are commenced on 28-1-2012, and the 6th phase of U.P and Goa State assembly elections will be completed by 03-03-2012. So, keeping in view of the above, we can expect that the order for Granting one increment to the Central Government Employees may be issued in the first week of March 2012.

According to the decision which is agreed by government in National Anomaly Committee, the govt servants will be granted one increment in the pre revised 5 CPC scale on 01-01-2006, and then it will be multiplied by 1.86 and the pay in the Pay Band in the 6 CPC will be fixed accordingly

Upgradation of Grade Pay of Inspector, Posts from Rs.4200/- to Rs. 4600/-

 

No. CHQ/IPASP/1/2012 Dated : 22/2/2012. 

To, 
Ms Yesodhara Menon, 
Member (P),
Department of Posts,
Dak Bhavan, Sansad Marg, 
New Delhi 110 001. 

Subject : Minutes of the meeting taken by the Member (Personnel) with All India Association of Inspectors and Assistant Superintendents Posts on 3/11/2011. 

Ref. : Directorate Letter No. 01/01/2011-SR dated 14/11/2011. 

Respected Madam,

The 37th All India Biennial Conference of this Association was held at Bangaluru on 28th and 29th January, 2012. In the Conference, the matter related to merger of the posts IP and ASP was deliberated in depth and the house passed a resolution unanimously as under:

“This Association is against the merger of Inspector Posts and Assistant Superintendents Posts Cadre. Inspector Posts should be granted Grade Pay of Rs. 4600/- with effect from 01/01/2006 at par with Inspectors of CBDT / CBEC in tune with directions of the Hon’ble CAT, Ernakulam Bench”.

In view of the above resolution, it is requested that action may please be taken to implement the orders of Hon’ble CAT, Ernakulam Bench to upgrade the grade pay of Inspector Posts from Rs. 4200/- to Rs. 4600/- with effect from 1.1.2006.

                                                                                                                             Yours sincerely,

                                                                                                                                 (Vilas Ingale)
                                                                                                                             General Secretary

ASP Transfer Orders issued by Chief PMG Haryana, Ambala

Department of Posts, India

Office of The Chief Postmaster General,

Haryana Circle

, Ambala-133001

           

                                                                Memo No. Staff/31-2/XII

                                    Dated at Ambala the 02.02.2012

              The competent authority is pleased to order the following transfers and posting in ASPOs cadre in the interest of service or otherwise as mentioned against each.

Sr. No.	Name of the Officer	Present Posting	Posting of transfer	Remarks
1.	Shri Mahadev Parsad	Postmaster Narnaul H.O.	ASPOs, Rewari Sub Dn.	At his own request, without TA/TP vice shri C.B.singh transferred.
2.	Shri C.B Singh	ASPOs Sub Dn.Rewari	Manager, SPC Faridabad	At his own request, without TA/TP against vacant post
3.	Shri Hira Lal	ASPOs(HQ) Kurukshetra	Postmaster, Narnaul	Vice Shri MAhadev Parsad, transferred
4.	Shri Ved Parkash	ASPOs(north), Kurukshetra	ASPOs (Vig.), Circle Office Ambala	At his own request, without TA/TP,vice shri D.S. Phulia transferred
5.	Shri Subhash Chander	ASPOs YamunaNagar	ASPOs(HQ) Kurukshetra	At his own request, without TA/TP,vice shri Ved Parkash transferred
6.	Shri Daya Singh Phulia	ASPOs (Vig.), Circle Office Ambala	ASPOs YamunaNagar	Vice Shri Subhash Chander,transferred.
7.	Shri.Sri Krishan Maan	ASPOs(HQ) Sonepat	ASPOs Bahadurgarh	At his own request, without TA/T P vice Shri S.K.Singhal, transferred
8.	Shri.S.K.Singhal	ASPOs Bahadurgarh	ASPOs(HQ) Sonepat	At his own request, without TA/TP vice Shri S.KMaan transferred

The officers/official will be relieved on local arrangement by the con concerned authorities immediately.

Usual charge reports be sent to all concerned.

                                                                                                                                                                                                                                                                        (Ranjeet Singh)

                                                                           Asstt. Director Postal Services, (Staff)

                                                                         

Haryana Circle

, Ambala-133001

Postal Department applies to RBI for banking licence

Minister for Communications and IT, Mr. Kapil Sibal with MoS, Mr. Sachin Pilot, at the FICCI round table on National Postal policy 2012 , in the capital on Wednesday.

NEW DELHI, FEB. 1: 

The Postal Department has applied to the Reserve Bank of India for a banking licence, the Communications Minister, Mr Kapil Sibal, said here on Wednesday.

Mr Sibal said he had written to the Finance Minister, Mr Pranab Mukherjee, to expedite the granting of licence.

Speaking on the sidelines of the postal policy round table organised by FICCI, Mr Sibal said, “A national postal policy targeting expansion and modernisation of the postal network would be announced during this year. The Government does not intend to issue licences to courier service companies, but would make it mandatory for them to register.”

Aimed at modernising postal services, the policy is expected to make the department adopt a more financially viable revenue model. It would also provide affordable services at all points in the country as part of its Universal Service Obligation, the Minister said.

The Department is also expecting large-scale private sector participation in providing value added services and extending its product range beyond the current core functions.

“There are tremendous opportunities for the private corporate sector to use its ingenuity to create innovative products and delivery mechanisms through the Indian postal network,” Mr Sibal said.

India currently has 1.55 lakh post offices, 95 per cent of which are located in rural areas.

Source : thehindu dtd 01/02/2012

Joint Consultative Machinery-JCM

1.    What is Joint Consultative Machinery?

The scheme of Joint Consultative  Machinery is a platform for constructive dialogue between the representatives  of the staff side and the official side for peaceful resolution of all disputes  between the Government as employer and the employees.  The scheme was introduced in 1956 with the objectives of promoting harmonious relations and securing the greatest measure of cooperation between the Central 1 Government as the employer and the employees in matters of common concern and with the object of further increasing the efficiency of the public service combined with the well being of those employed.  The scheme is a non statutory one mutually agreed upon between the staff side and the official side.

2. What is the applicability of the JCM  Scheme?

            The scheme covers all regular civil employees of the Central Government, except:

a)    The class-I services;

b)    The class-II services, other than the Central Secretariat services and the other comparable services in the headquarters organization of the Government.

c)    Persons in industrial establishments employed mainly in managerial or administrative capacity, and those who being  employed in supervisory capacity drawing salary going beyond grade pay of Rs.4200/- per month.

d)    Employees of the Union Territories; and

e)    Police personnel.

3. What is the structure of the Joint Councils under the JCM Scheme?

            The Scheme provides for setting up of Joint Councils at the National, Departmental and Regional / Office levels.  The National Council, chaired by the cabinet Secretary, is the apex body.

4. How are staff side members selected for various Joint Councils?

            The representatives of the staff Side for various Joint Councils are chosen / selected from members of the recognized service association / unions

5. What is the time schedule for holding meetings of the National / Departmental  Councils?

            As per the JCM Scheme, ordinary meeting of the National  Council / Departmental Council may be held as often as necessary as but not less than once in four months.

6. How recognition is granted to the staff associations?

The Department of personnel & Training being the nodal department for matters relating to Joint Consultative Machinery and Compulsory Arbitration, has notified Central Civil Services (Recognition of Associations) Rules, 1993 for the purpose of granting recognition to various service associations.  Recognition is actually granted by the concerned Ministry /  Department in accordance with the CCS (RSA) Rules 1993. 

            In case of any doubt or confusion, the matter is referred to the JCA Section of the Department of Personnel & Training for clarification / advice.

7. What are the facilities available to recognized associates?

The recognized associates / unions enjoy certain facilities like:

(a)  Negotiations with the employer;

(b)  Correspondence and meetings with the head of the administrative departments

(c)  Provision of accommodation for the associates subject to availability;

(d)  Facility of special casual leave up to 20 days in a year to the office bearers of the associations.

(e)  Payment of T.A./D.A for attending officially sponsored meetings; and

(f)   Facility of seeking transfer of Chief Executive of the Union / association to the Headquarters of the appropriate head of administration.

8. What will happen if there is no agreement between the staff and the official side?

If there is no agreement between the staff and the official side on an arbitrable issue, then  the matter is to be referred to the Board of Arbitration if so desired by the staff side.

9. What are the issues on which arbitration is possible?

The arbitration is limited to the following issues:

(a)  Pay and allowances;

(b)  Weekly hours of work; and

(c)  Leave

10. Is the award given by the Board of Arbitration binding on the parties?

The award given by the Board of Arbitration is binding on the Government as well as the staff side subject to the overriding authority of the Parliament.  The award can be modified / rejected only with the approval of the parliament through a formal resolution on grounds affecting national economy or social justice.

source-persmin