Inauguration of Office of the Chief Postmaster General ,Andhra Pradesh Circle in the premises of Postal Stores Depot , Vijayawada by CPMG Sri.M.Sampath and DPS Sri.E.V.Rao.
Friday, February 3, 2017
Circle Union requests Chief PMG, Odisha Circle not to transfer LSG, HSG-II and HSG-I officials on the plea of completion of Station Tenure
No. P3Odisha/02-02/2017
Dated at Bhubaneswar the 2nd February, 2017
To
The Chief Postmaster General
Odisha Circle, Bhubaneswar – 751 001
Sub: Transfer of non-gazetted LSG, HSG-II and HSG-I Postmasters in Odisha Circle on the plea of completion of Station Tenure
Ref.- C O letter No. ST/46-1/Rlg./2015-Corr, dated 01.02.2017
Respected Sir,
Inviting a kind reference to Circle Office letter referred to above calling for options from LSG , HSG-II and HSG-I officials who are due for rotational transfer on completion of post tenure or station tenure, we would like to bring to the notice of our Chief PMG the instructions contained in DG P & T letter No.69/49/72-SPB, dated 29.08.1973 and No. 69/49/71-SPB I, dated 2 12.1971 abolishing the station tenure for non-gazetted staff and instructing to transfer such officials to some other post in the same station on completion of tenure.
The tenure for non-gazetted Postmasters including HSG is 4 years (DG P & T Letter No. 69/15/79-SPB-I, dated 14.02.1980).
Therefore, we would like to request our Chief PMG kindly to keep in view the above instructions of the Directorate and accommodate all the LSG, HSG-II and HSG-I officials whoare due for rotational transfer during 2017-18 on completion of post tenure only in the same station and not to transfer them out of station on the plea of completion of station tenure.
Awaiting your kind response, Sir.
With regards.
Yours faithfully,
( BRUHASPATI SAMAL)
Circle Secretary
Copy to:
Com. R N Parashar, General Secretary, AIPEU, Group-C, CHQ, Dada Ghosh Bhawan, New Delhi-110 008 for information and necessary action. This has a reference to the telephonic discussion and eMail dated 02.02.2017 on the issue.
7th Pay Commission: Centre to hike allowances of Central Govt employees from April 1, says NJCA convenor
New Delhi, February 2: A day after Budget 2017 was tabled in the Parliament by Finance Minister Arun Jaitley, the Central Government employees were upset as the Union Minister nowhere mentioned any increase in the hike of allowances in the 7th Pay Commission. But the members of National Joint Action Committee (NJCA) are an optimist about the implementation of 7CPC and believe that the government will come up with some positive news on April 1. The NJCA also believe that the Union Government will be implementing the 7CPC latest by April 1, after the end of financial year.
On Wednesday, the central government employees were gripped with pessimism after Arun Jaitley made no reference to the anomalies related to 7CPC in his Budget speech. “All of us were eagerly waiting for Finance Minister to make some announcement on minimum wages. But after Mr Jaitley’s speech ended without mentioning a single word about the increase in the minimum wage, most of us were upset,” Shiv Gopal Mishra, NJCA chief said to India.com.
He further added, “The government may implement the 7CPC by April 1 and their demand to increase the minimum wage will also be implemented. If the government fails to increase minimum wages from Rs 18,000 to Rs 25,000 then we will launch a massive protest against the government”.
The NJCA has been actively involved with the Centre where they are seeking a revision of minimum salary from Rs 18,000 to Rs 26,000. The NJCA members and its conveyor had also met Home Minister Rajnath Singh, Finance Minister Arun Jaitley, Railway Minister Suresh Prabhu, a day after the implementation of 7CPC and had kept their demands in front of senior leaders.
Shiv Gopal Mishra is quite optimist about the hike in allowances of government employees but he is not sure that their demands of raising the minimum wage would be fulfilled by the government.
On Wednesday, most of the senior central government employees were eagerly waiting for the Budget speech as most of them expected the Finance Minister to speak on the 7CPC.
On July 1, 2016, the 7th Pay Commission was approved by the Union Cabinet. The date of implementation was fixed by the high-powered committee as for January 1, 2016. From the month of July, the central government employees were provided with the hiked salaries, along with the arrears of six months. But the hike was only related to the basic component of their pay. The increase in allowances was upheld, due to the anomalies raised by employees unions.
The implementation of 7th Pay Commission will directly benefit around 47 lakh central government employees, along with 53 lakh pensioners. In the 7th Pay Commission, the minimum wage has been revised from Rs 7,000 to Rs 18,000. While the maximum salary has been capped at Rs 2.5 lakh.
Source : http://www.india.com
Thursday, February 2, 2017
New Benefits announced for NPS Subscribers in Union Budget 2017-18
In a bid to provide further impetus to the National Pension System (NPS), the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament today.
Tax-exemption to partial withdrawal from National Pension System (NPS)
The existing provision of section 10(12A)of the Income Tax Act, 1961 provides that payment from National Pension System (NPS) to a subscriber on closurer of his account or opting out shall be exempt up to 40% of total corpus at the time of withdrawal . The amount utilized for purchase of annuity is also tax exempt. At the time of normal exit, 40% of the total corpus is mandatorily required to be purchased for annuity. The subscriber has the option to use higher amount for purchase of annuity.
In order to provide further relief to the subscriber of NPS, it has been proposed to insert a new clause (12B) in the section 10 of Income Tax Act, 1961 to provide exemption on partial withdrawal not exceeding 25% of the contribution made by an employee in accordance with the terms and conditions specified under Pension Fund Regulatory and Development Authority Act, 2013 and regulations made there under.
| This benefit will be effective on partial withdrawal made by the subscriber after 1st April 2017. |
Further, Contribution up to 20% of the Gross Income of the Self-employed individual (Individual other than salaried class) will be deductible from the taxable income under Section 80CCD (1) of the Income Tax Act, 1961, as against 10% earlier.
This is with a view to provide parity between a salaried employee and a self-employed.
This benefit will be available on contribution made by the self employed persons on or after 1st April 2017.
This increased limit for tax benefit will help the self-employed individuals, to save taxes on higher contribution in NPS and thereby properly plan for their old age income security.
Additional tax deduction on investment upto Rs. 50000/- under Section 80CCD (1B) will continue to remain the same for all NPS subscribers whether salaried or self-employed.
Source:-PIB
(Release ID :157906)
Income Tax Department (ITD) launches Operation Clean Money
Press Information Bureau
Government of India
31-January-2017 16:31 IST
Income Tax Department (ITD) launches Operation Clean Money
Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. Data analytics has been used for comparing the demonetisation data with information in ITD databases. In the first batch, around 18 lakh persons have been identified in whose case, cash transactions do not appear to be in line with the tax payer’s profile.
ITD has enabled online verification of these transactions to reduce compliance cost for the taxpayers while optimising its resources. The information in respect of these cases is being made available in the e-filing window of the PAN holder (after log in) at the portal https://incometaxindiaefiling.gov.in. The PAN holder can view the information using the link “Cash Transactions 2016” under “Compliance” section of the portal. The taxpayer will be able to submit online explanation without any need to visit Income Tax office.
Email and SMS will also be sent to the taxpayers for submitting online response on the e-filing portal. Taxpayers who are not yet registered on the e-filing portal (at https://incometaxindiaefiling.gov.in) should register by clicking on the ‘Register Yourself’ link. Registered taxpayers should verify and update their email address and mobile number on the e-filing portal to receive electronic communication.
A detailed user guide and quick reference guide is available on the portal to assist the taxpayer in submitting online response. In case of any difficulty in submitting on line response, help desk at 1800 4250 0025 may be contacted.
Data analytics will be used to select cases for verification, based on approved risk criteria. If the case is selected for verification, request for additional information and its response will also be communicated electronically . The information on the online portal will be dynamic getting updated on receipt of new information, response and data analytics.
The response of taxpayer will be assessed against available information. In case explanation of source of cash is found justified, the verification will be closed without any need to visit Income Tax Office. The verification will also be closed if the cash deposit is declared under Pradhan Mantri Garib Kalyan Yojna (PMGKY).
The taxpayers covered in this phase should submit their response on the portal within 10 days in order to avoid any notice from the ITD and enforcement actions under the Income-tax Act as also other applicable laws
HIGHLIGHTS
Finance minister Arun Jaitley presented the Union Budget 2017-18 in the Lok Sabha today. Here are the highlights of the Union Budget:
1. India stands out as a bright spot amid world economic gloom .
2. Our focus will be on energising youth to reap benefits of growth and employment.
3. IMF estimates world GDP will grow by 3.4 per cent in 2017 .
4. Oil prices, rising dollar and volatile commodity prices seen as risks to Indian economy.
5. India is seen as engine of global growth, have witnessed historic reform in last one year.
6. Demonetisation is a bold and decisive measure, for many decades tax evasion was a way of life for many.
7. Note ban is expected to have only a transient impact on economy .
8. I am reminded of what our father of the nation Mahatma Gandhi said: "A right cause never fails".
9. The pace of remonetisation has picked up.
10. Effects of demonetisation not expected to spill over to next year.
11. Budget preponement to February 1 will give sufficient time to departments to implement government schemes.
12. Our Budget agenda is - transform, energise and clean India - TEC India.
13. Our approach in preparing the Budget is to spend more on rural areas, infrastructure and poverty alleviation with fiscal prudence .
14. Agriculture sector is expected to grow at 4.6%, agriculture expenditure targeted at Rs 10 lakh crore.
15. 36% increase in FDI flow; Forex reserves at $361 billion in January, which is enough to cover 12 months needs.
16. Allocation under MNREGA increased to 48,000 crore from Rs 38,500 crore. This is highest ever allocation
17. Total allocation for rural, agricultural and allied sectors for 2017-18 is Rs 187223 crore, which is 24% higher than last year .
18. One crore houses for poor by 2019.
19. Safe drinking water to cover 28,000 arsenic and Fluoride-affected habitations in the next four years.
20. 133-km road per day constructed under Pradhan Mantri Gram Sadak Yojana as against 73-km in 2011-14 .
21. For senior citizens, Aadhar cards giving their health condition will be introduced .
22. Two new All India Institute of Medical Sciences(AIIMS) to be set up in Jharkhand and Gujarat .
23. 3500km railway lines to be put up.
24. Service charge on rail tickets booked through IRCTC to be withdrawn.
25. Rail safety fund with corpus of Rs 100,000 crore will be created over a period of five years.
26. 500 rail stations to be made differently abled-friendly by providing lifts and escalators .
27. A new metro rail policy will be announced, this will open up new jobs for our youth.
28. Foreign investment promotion board (FIPB) to be abolished .
29. Allocation for infrastructure stands at a record Rs 3,96,135 crore .
30. Government to set up strategic crude oil reserves in Odisha and Rajasthan.
31. 1.25 crore people have already adopted Bhim App for digital payments .
32. Aadhaar Pay- an app for merchants- to be launched' 20 lakh aadhaar-based POS by September 2017 .
33. Government is considering introduction of new law to confiscate assets of offenders who escape the country.
34. Defence expenditure excluding pension at Rs 2.74 lakh crore.
35. Fiscal deficit for 2017-18 pegged at 3.2 percent of GDP .
36. Fiscal deficit target for next three years pegged at 3 percent.
37. India's tax-to GDP ratio is very low. We are largely a tax non compliance society, when too many people evade taxes burden falls on those who are honest.
38. Out of 3.7 crore who filed tax returns in 2015-16, only 24 lakh persons showed income above Rs 10 lakh.
39. Of 76 lakh individuals who reported income of over Rs 5 lakh, 56 lakh are salaried.
40. Small firms with turnover up to Rs 50 crore to pay 25% tax now, instead of 30%.
41. Black money SIT has suggested no cash transaction above Rs 3 lakh. The government has accepted this recommendation .
42. Maximum cash donation any party can receive will be Rs 2000 from one source.
43. Political parties will be entitled to receive donations by cheques or digital modes.
44. An amendment being proposed to RBI Act to enable the issuance of electoral bonds for political funding.
45. Jaitley reduces income tax rate from 10% to 5% for tax slab of Rs 250,000 to Rs 500,000 .
46. Surcharge of 10% for those whose annual income is Rs 50 lakh to 1 crore.
47. 15% surcharge on incomes above Rs 1 crore to continue.
Source : http://timesofindia.indiatimes.com/
Grant of paid holiday to employees on the day of poll - DoPT Order
General Election to the Legislative Assemblies of Goa, Manipur, Punjab, Uttarakhand and Uttar Pradesh, 2017 - Grant of paid holiday to employees on the day of poll : DoPT Order
F.No.12/3/2016-JCA-2
Government of India
Ministry of Personnel, Public Grievances and Pensions
(Department of Personnel 85 Training)
Establishment (JCA-2l Section
North Block, New Delhi
Dated 1st February, 2017
OFFICE MEMORANDUM
Subject: General Election to the Legislative Assemblies of Goa, Manipur, Punjab, Uttarakhand and Uttar Pradesh, 2017 - Grant of paid holiday to employees on the day of poll - regarding
The undersigned is directed to say that in connection with the General Elections to the Legislative Assemblies of the States of Goa, Manipur, Punjab, Uttarakhand and Uttar Pradesh, to be held during the months, of February and March, 2017, the guidelines, issued by this Department vide OM No. 12/14/99-JCA dated 10.10.2001, may be followed for closing of the Central Government Offices, including Industrial establishments in the above mentioned States the relevant portion of the OM as referred to above are reproduced here.
(i) The relevant organizations shall remain closed in the notified areas where general elections to the State Legislative Assembly are concerned scheduled to be conducted;
(ii) In connection with bye-election to Lok Sabha/ State Assembly, only such of the employees who are bona-fide voters in the relevant constituency should be granted special casual leave on the day of polling. Special Casual leave may also be granted to an employee who is ordinarily a resident of a constituency and registered as a voter but employed in any Central Government Organization / Industrial Establishment located outside the constituency having a general / bye-election.
2. The employees detailed on election duty may also be permitted to remain away from their normal duties on polling day(s) as also on the days required for performing journeys which might be undertaken in order to perform such election duty
3. The above instructions may be brought to the notice of all concerned.
sd/-
(D.K. Sengupta)
Deputy Secretary to the Government of India
Income Tax Slab Rates 2017-18 (AY 2018-19) - Rates Charts
Income Tax Slab Rates 2017-18 Pdf, Income Tax Slab Rates 2017- Income Tax Slab Rates Charts & Tables for FY 2017-18 (AY 2018-19)
Income Tax Department official website: www.incometaxindia.gov.in
http://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx
Income Tax Slab Rates 2017-18 Pdf
1. In case of an Individual (resident or non-resident) or HUF or Association of Person or Body of Individual or any other artificial juridical person
Assessment Year 2017-18
Taxable income
|
Tax Rate
|
Up to Rs. 2,50,000
|
Nil
|
Rs. 2,50,000 to Rs. 5,00,000
|
5%
|
Rs. 5,00,000 to Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Less: Rebate under section 87A [see Note]
Add: Surcharge and Education Cess [see Note]
2. In case of a resident senior citizen (who is 60 years or more at any time during the previous year but less than 80 years on the last day of the previous year)
Assessment Year 2017-18
Taxable income
|
Tax Rate
|
Up to Rs. 3,00,000
|
Nil
|
Rs. 3,00,000 - Rs. 5,00,000
|
5%
|
Rs. 5,00,000 - Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Less: Rebate under Section 87A [see Note]
Add: Surcharge and Education Cess [see Note]
3. In case of a resident super senior citizen (who is 80 years or more at any time during the previous year)
Assessment Year 2017-18
Taxable income
|
Tax Rate
|
Up to Rs. 5,00,000
|
Nil
|
Rs. 5,00,000 - Rs. 10,00,000
|
20%
|
Above Rs. 10,00,000
|
30%
|
Add: Surcharge and Education Cess [see Note]
Note:
Assessment Year 2017-18
1. a) Surcharge:The amount of income-tax shall be increased by a surcharge at the rate of 10% of such tax, where total income between 50 Lakhs and one crore rupees. However, the surcharge shall be subject to marginal relief (where income between 50 Lakhs and one crore rupees, the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).
2. b) Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess calculated at the rate of two per cent of such income-tax and surcharge.
3. c) Secondary and Higher Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by secondary and higher education cess calculated at the rate of one per cent of such income-tax and surcharge.
4. d) Rebate under section 87A: The rebate is available to a resident individual if his total income does not exceed Rs. 5,00,000. The amount of rebate shall be 100% of income-tax or Rs. 5,000, whichever is less.
Click here for Income and Tax Calculator
No Cash Transaction above Rs 3 Lakhs – Finance Minister
Press Information Bureau
Government of India
Ministry of Finance
01-February-2017 13:57 IST
Budget gives a major push to Digital Economy; proposes No Cash Transaction above Rs 3 lakh
Government to launch schemes to promote BHIM app, Aadhar Enabled Payment System
Mission to be set-up to achieve a target of 2500 Cr digital transactions in 2017-18
Series of measures proposed to strengthen and regulate digital economy
In a bid to give a push to Digital Economy and weed-out corruption and black money, the Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley in his Budget Speech today said that the Government has decided that no transaction above Rs 3 lakh will be permitted in cash. Accepting a suggestion by Special Investigation Team on Black Money to ban cash transactions above Rs 3 lakhs, the Finance Minister has proposed an amendment to the Income-tax Act in the Finance Bill.
Presenting the General Budget 2017-18 in the Parliament, the Finance Minister said that the Government will launch two new Schemes to promote the usage of BHIM App i.e, Referral Bonus Scheme for individuals and a Cashback Scheme for merchants. BHIM App was launched to promote digital transactions and will unleash the power of mobile phones for digital payments and financial inclusion, The Finance Minister Shri Jaitley informed the House that 125 lakh people have adopted the BHIM app so far.
The Finance Minister Shri Jaitley also announced that Aadhar Pay, a merchant version of Aadhar Enabled Payment System, will be launched shortly. This will be specifically beneficial for those who do not have debit cards, mobile wallets and mobile phones. A Mission will be set-up with a target of 2,500 crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards. Banks have targeted to introduce additional 10 lakh new PoS terminals by March 2017. They will be encouraged to introduce 20 lakh Aadhar based PoS by September 2017.
Highlighting the Government’s strategy to clean the system through digital economy, Shri Jaitley said that it has a transformative impact in terms of greater formalisation of the economy and mainstreaming of financial savings into the banking system. This, in turn, is expected to energise private investment in the country through lower cost of credit. India is now on the cusp of a massive digital revolution, he added. The Finance Minister said that a shift to digital payments has huge benefits for the common man. The earlier initiative of the Government to promote financial inclusion and the JAM trinity were important precursors to the current push for digital transactions, the Finance Minister added.
In a bid to incentivize the digital transactions, the Finance Minister Shri Jaitley proposed that the presumptive income tax for small and medium tax payers whose turn-over is up to Rs 2 crore will be reduced from the present 8% of their turnover which is counted as presumptive income to 6% in respect of turnover which is received by non-cash means. This benefit will be applicable for transactions undertaken in the current year also, he added.
The Finance Minister also proposed to limit the cash expenditure allowable as deduction, both for revenue as well as capital expenditure, up to Rs 10,000. Similarly, the limit of cash donation which can be received by a Charitable Trust is being reduced from Rs 10,000/- to Rs 2000/-.
To promote cashless transactions, the Finance Minister in the Budget has proposed to exempt BCD, Excise/CV duty and SAD on miniaturised POS card reader for m-POS, micro ATM standards version 1.5.1, Finger Print Readers/Scanners and Iris Scanners. He also proposed to exempt parts and components for manufacture of such devices, so as to encourage domestic manufacturing of these devices.
To strengthen and regulate the digital economy, the Finance Minister has proposed to create a Payments Regulatory Board in the Reserve Bank of India(RBI) by replacing the existing Board for Regulation and Supervision of Payment and Settlement Systems. The Committee on Digital Payments constituted by the Department of Economic Affairs has recommended structural reforms in the payment eco system, including amendments to the Payment and Settlement Systems Act, 2007. The Government will undertake a comprehensive review of this Act and bring about appropriate amendments, Finance Minister added.
To strengthen the digital payment infrastructure and grievance handling mechanisms, the Finance Minister said in his Budget Speech that the focus would be on rural and semi urban areas through Post Offices, Fair Price Shops and Banking Correspondents. He added that steps would be taken to promote and possibly mandate petrol pumps, fertilizer depots, municipalities, Block offices, road transport offices, universities, colleges, hospitals and other institutions to have facilities for digital payments, including BHIM App. A proposal to mandate all the Government receipts through digital means, beyond a prescribed limit, is under consideration. The Government will strengthen the Financial Inclusion Fund to augment resources for taking up these initiatives, the Finance Minister added.
In his Budget Speech, the Finance Minister informed that increased digital transactions will enable small and micro enterprises to access formal credit. He said that the Government will encourage
SIDBI to refinance credit institutions which provide unsecured loans, at reasonable interest rates, to borrowers based on their transaction history.
The Finance Minister assured the House that the Government will consider and work with various stakeholders for early implementation of the interim recommendations of the Committee of Chief Ministers on digital transactions.
Shri Jaitley said that the Government is considering the option of amending the Negotiable Instruments Act to ensure that the payees of dishonoured cheques are able to realise the payments.
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