Income tax Exemption limit raised to Rs. 2 Lakh

Upper Limit of 20 Per Cent Tax Slab Raised to Rs. 10 Lakh 
Deduction up to Rs. 10,000 Proposed for Savings Bank Interest 
Senior Citizens not Having Income from Business Exempted from Payment of Advance Tax 

The exemption limit for the general category of individual taxpayers has been enhanced to Rs. 2,00,000 from Rs. 1,80,000 in the General Budget 2012-13, presented by the Union Finance MinisterShri Pranab Mukherjee in the LokSabha here today. This measure will provide tax relief uptoRs. 2,000 to every taxpayer in this category.

The Finance Minister, Shri Mukherjeeintroduced the DTC (Direct Taxes Code) rates for personal income tax, marking progress in the direction of movement towards DTC and GST (Goods and Services Tax).

            It has also been proposed to raise the upper limit of 20 per cent tax slab from Rs. 8 lakh to Rs. 10 lakh. The proposed personal income tax slabs are:

Union Budget 2012-13 Highlights

·         Budget identifies five objectives relating to growth recovery, private investment, supply bottlenecks, malnutrition and governance matters

·         GDP growth to be 7.6 per cent (+ 0.25 percent) during 2012-13

·         Amendment to the FRBM Act proposed  aspart of Finance Bill.  New concepts of “Effective Revenue Deficit” and “Medium Term Expenditure Framework” introduced

·         Central subsidies to be kept under 2 per cent of GDP; to be further brought down to 1.75 per cent of GDP over the next 3 years.

·         Proposed: Mobile based fertilizer management system; LPG transparency portal; scaling up and rolling out of Aadharenabled payment for government schemes in at least 50 districts.

·         Rs. 30,000 crore to be raised through disinvestment

·         Efforts to reach broadbased consensus on FDI in multi-brand retail

·         Rajiv Gandhi Equity Saving Scheme: to allow income tax deduction to retail investors on investing in equities

·         Rs. 15,888 crore to be provided for capitalization of public sector banks and financial  institutions

Provident Fund Interest Rate slashed to 8.25%…

Provident Fund Interest Rate slashed to 8.25%…

Employees Provident Fund Interest Rate slashed to 8.25% from the existing rate of 9.5% for the year 2011-12…

Employees Provident Fund Organisation has informed through a office letter to all Regional Provident Fund Commissioners on 14th March, 2012 to take necessary action regarding the interest rate on deposits.

The order said that the Ministry of Labour and Employment, Government of India, vide its letter No.R-11018/1/2010.SS-II dated 14.03.2012 has conveyed the approval of the Central Government under para 50(1) of Employees’ Provident Fund Scheme, 1952 to credit interest @ 8.25% for the year 2011-12 to the account of each member of the scheme.

Economic Survey: Department of Posts deficit may dip 16% to Rs 5,309 cr in 2011-12

NEW DELHI: The efforts of the government to revive the Department of Posts (DoP) seems to be bearing fruits as its deficit is likely to come down by over 16 per cent to Rs 5,309.6 crore in 2011-12, the Economic Survey 2011-12 today said.

"In the current year 2011-12 (Budget Estimates), the gross receipts were budgeted at Rs 7,517.7 crore and with gross and net working expenses estimated at Rs 13,522.4 crore and Rs 12,827.3 crore respectively, with the deficit estimated at Rs 5,309.6 crore," the Economic Survey said.

The gross receipts of the DoP in 2010-11 were placed at Rs 6,962.3 crore whereas the gross and net working expenses were Rs 13,793.7 crore and Rs 13,307.9 crore respectively.

The resultant deficit for 2010-11 stood at Rs 6,345.6 crore, the Economic Survey said.

It added that the postal sector needs to keep pace with changing times as many of its services have become redundant with growth in technology and takeover by other players.

"Quick decisions and actions to stay abreast of the times including switching over to new activities and downsizing could release a lot of resources from this sector for use elsewhere," the Economic Survey said.

ADDITIONAL DA FOR CENTRAL GOVT EMPLOYEES AND PENSIONERS : CABINET COMMITTEE IS LIKELY TO DISCUSS IN THE NEXT MEETING…

The magnet word of ‘Dearness Allowance’ is the commonly used among the Central and State government employees and Pensioners. As it is the only allowance which they can expect twice in a year to overcome the financial burden in their families. Even though they are entitled to receive a number of allowances, it may vary depends upon the work, workplaces and climatic conditions. Some of these allowances has limitations and paid only to the eligible employees according to the nature of work. But the Dearness Allowance is not like that. This allowance is paid to all central government employees evenly without any specific limitations.

As every one knows that D A is paid twice in a year i.e. in January and in July as recommended in the 6th Central Pay Commission. The Central Government announces the D A on the recommendations of the Labour Bureau which calculates the rising prices of different essential commodities at different places all over India. When the price rises, DA also rises.

Employees are eagerly awaiting the announcement of this year’s first instalment of DA and it will be announced soon by the government.

SANCHAY POST - Version 6.6.1

SANCHAY POST - Version 6.6.1

SANCHAY POST - Version 6.6.1 - Pre-Release Notification

Sanchay post version 6.6.1 is to be released on the 19^th of March 2012.  It is imperative for all HOs to upgrade immediately to facilitate interest calculation for the financial year 2012-2013.

---

Preparation for  upgradation to Sanchaypost version 6.6.1

• Download the latest DBAnalyzer exe from our website. Run DBAnalyzer software.
• In ‘Check Databases’ option ensure that upgradation to previous versions is successful using ‘version 6.5’ and ‘version 6.5R2’. Also check the option ‘MoF Patch’ to ensure interest rate updation.

In case of any error in the above, contact SDC for solution.

GDS compassio​nate appointmen​t

Remarkable Victory for Postal JCA ,Cadre restructuring for MMS staff was conducted under the Chairperson Ms. Sandhya Rani, PMG BD Hyderabad on 12th and 13th MARCH 2012

Govt mulling insurance plan for central govt officials

Govt mulling insurance plan for central govt officials

New Delhi: Government on Friday said it was contemplating introduction of a health insurance scheme for central government employees and pensioners on a pan India basis.
In reply to a question in Lok Sabha, Health Minister Ghulam Nabi Azad said the scheme would be an alternative to the existing CGHS scheme.
"The proposal is to make this scheme voluntary and contributory for serving employees and pensioners. However, it is proposed to be made compulsory for new entrants in Government service," Azad said.

Replying to another question, he said the government was also considering a plan to construct a super speciality wing in the campus of Safdarjung Hospital.

"A detailed project report for the construction of a 360 bedded super speciality wing in the campus of the Safdarjung Hospital has been received," Azad said.

Finance ministry may accept house panel's recommendations on DTC bill

A parliamentary panel has submitted its recommendations on the Direct Taxes Code (DTC) bill, potentially giving the government leeway to please taxpayers in the March 16 budget and win back favour after suffering severe setbacks in recent state elections.

If the recommendations of the standing committee on finance headed by senior BJP leader Yashwant Sinha are accepted, nearly 90% of taxpayers will drop out of the tax net while others could see their tax liabilities come down.

The committee has suggested that the basic exemption limit be raised to Rs 3 lakh from Rs 1.8 lakh now and income up to Rs 10 lakh attract only 10% tax. The highest 30% tax slab is proposed to kick in only on income in excess of Rs 20 lakh.

India's postal services to cost more

For the first time in ten years, India Post will soon increase charges for postal services upto 20% to meet its operational costs. The decision, which awaits the Reserve Bank of India's approval, would rake in additional revenue of about Rs. 1000 crore as it gears up to convert more than 1.5 lakh post offices into full-fledged banks.

The hike on speed post, inland letters, money orders and post cards also comes because the government has moved towards corporatisation of India Post. Post offices currently offer financial services such as savings bank accounts, postal life insurance, pension payments and money transfer services.

A top india post official confirmed that the hike has been approved by the Postal Regulatory Commission. India Post officials argue that the charges are heavily subsidized and much lower than the cost of services being offered by private courier services.

Proposed new postal security standards for International Mail

The UPU’s official bodies, the Council of Administration and the Postal Operations Council, last week endorsed a proposed resolution on minimum security standards for international mail.

The proposal will be put forth for formal adoption by UPU member countries at the 25th Universal Postal Union Congress in Doha, Qatar, in September/October 2012.

 

If approved, the proposed standards would force Posts worldwide to apply measures to better screen international mail and take custody of it. Posts would have to apply minimum security standards to critical facilities in their network, such as international offices of mail exchanges, which process arriving and departing international mail.

According to UPU Postal Security Expert David Bowers, the standards would establish a security baseline to the global postal network, thus reassuring civil aviation and customs organizations that international mail has gone through minimum screening measures. “Our goal is to harmonize our international standards with the ones developed by the International Civil Aviation Organization to guide air transportation of mail,” explains Bowers.

Monthly meeting with SPO's Pathanamthitta for the month of March-2012

     The monthly meeting of our union with Superintendent of PO's Pathanamthitta divsion is scheduled to be held on 28.03.2012.All are requested to intimate the items to be taken from the staff side in the monthly meeting which is scheduled as mentioned.Any queries or complaints regarding may be forwarded by email or written post to the Secretary's address mentioned below.

Email :-             ptafnpo@gmail.com
Postal address:- Johny Joseph
                            Divisional Secretary,NAPE-Gr-C
                            Punalur-691305


                                                 
                                                                                                            Divisional Secretary
                                                                                                            NAPE-Gr-C
                                                                                                            Pathanamthitta division

DA from Jan 2012 – Cabinet will decide in the next meeting which is to held on 15.03.2012 …

Dearness Allowance for Central Government Employees and Pensioners...

Rate of additional Dearness Allowance from January 2012, Cabinet Ministry will decide in the next meeting which will be held on 15th March 2012...

DA from Jan 2012 – Cabinet will decide in the next meeting…

DA from Jan 2012 – Cabinet will decide in the next meeting wich is held on 15.03.2012 …

The additional Dearness allowance which is announced every six months by the Central Government to the Central Government employees and the Pensioners is based depending upon the price hike of essential commodities all over the nation.

The statistics of All India Consumer Price Index for Industrial Workers (AICPIN-IW) is increased on account of the proportionate rise in twele-month as of December 2011,  regarding the additional DA to be announced from 1.1.2012, which is based on the price rise from July 2011 to Dec 2011 in about 70 selected areas throughout India. These calculation are done by the Labour Ministry and it was sent to the Finance Ministry and discussed in the meeting of the Cabinet Ministers. The decision is expected to be finalised in the next meeting.

LATEST UPDATES ON VARIOUS SUBJECTS ( 10.03.2012)

Revised Recruitment Rules for HSG I :UPSC has approved revised recruitment rules for HSG I. after several rounds of discussions with our officers. The Department of Posts has fulfilled the requirements of the UPSC . Now the file may go to Law Ministry .After that our Department will issue gazette notification notifying the revised recruitment rules for HSG I . According to our information it may take 3 months time.

Adhoc arrangements for HSG I:Department approached DOPT for approval of adhoc arrangements for HSG I . Approval is expected with in a week formal orders will be issued within fortnight.

IPO EXAMINATION RESULTS: Some of the candidates have moved CAT and hence the results of the IPO Exam 2011 are delayed.

Cadre Restructuring committee for MMS::

First meeting will be held in Hlyderabad on 12^thMarch 2012 to 13^th March 2012.under the chairperson of Smt Sandhya Rani PMG (BD) Hyderabad . Staff side has prepared for proposals for cadre Restructuring and the same will be submitted during the meeting.

Dopt issued clarification on Children Education Allowance

No.12011/07(ii)/2011-Estt.(AL)
Government of India
Ministry of Personnel, Public Grievances and Pension
Department of Personnel and Training

New Delhi, 21-02-2012

OFFICE MEMORANDUM

Subject: Children Education Allowance.

Subsequent to issue of Department of Personnel & Training’s O.M. No.12011/03/2008—Estt.(Allowance) dated 2nd September, 2008 and clarifications issued from time to time on the subject cited above, a number of references have been received on certain aspects of Children Education Allowance / Hostel Subsidy. After due consideration of the references, in consultation with the Ministry of Finance, Department of Expenditure, the following modifications/alterations are carried out with effect from the date of issue of this O.M. on pro-rata basis:

i. Development Fee/Parents’ Contribution charged by the school/institution in lieu of tuition fee shall be reimbursed. The Government servant will have to certify to the effect that tuition fee has not been charged by the school/institution.

ii. Fee charged directly by the school/institution for catering to the special needs of the child with disabilities, duly certified by the school authorities, shall be reimbursed in addition to items mentioned in para 1(e) of O.M. dated 2-9-2008. The school/institution shall be aided or approved by the Central/State Government/UT Administration or whose fees are approved by any of these authorities.