Monday, November 28, 2016
Government may reward tax payers
Demonetisation windfall: Government may reward tax payers:
Sources hint at tax breaks in Budget 2017-18
With demonetisation raising revenues for the government, Budget for 2017-18 may see an increase in income tax exemption limit for individual tax payers. It may also see a reduction in income tax rates.
“The monetary gains will be utilised for infrastructure development, but a part of it will also be used to spur demand in the economy and one way will be to give tax breaks to bonafide tax payers,” a top official said.
It may even be a Rs 5 lakh flat tax exemption for individual tax payers, and not other income tax rebates. The other possibility is that the government will increase the exemption from the current Rs 2.5 lakh, to Rs 3.5 lakh, and let some of the deductions continue. At present, Rs 2.5-5 lakh income is taxed at 10%, Rs 5-10 lakh at 20%, and above Rs 10 lakh at 30%. The government is currently working on various possibilities, and it will take sometime to zero-in on one, according to different sources in the government.
In case, the exemption is Rs 5 lakh, the income tax rates applicable could be 10% between Rs 5 lakh and Rs 10 lakh annual income, 20% between Rs 10 lakh and Rs 20 lakh income, and 30% on income over Rs 20 lakh, according to an official, who did not wish to be identified.
The industry too has demanded a cut in income tax rates, and a steep increase in exemptions in the wake of a windfall gain to the government after the demonetisation drive. Industry has also sought a cut in maximum tax rate of 30% on individual income to 25%.
Finance Minister Arun Jaitley had recently said that demonetisation will not only bring back the unaccounted wealth into the economic system, it will also pave way for tax relief to honest tax payers by bringing the rates down.
At present, there are various income tax exemptions for individual tax payers and the salaried class. These include house rent allowance exemption for the salaried class, income tax exemption on leave travel allowance, and exemption on encashment of leave. Transport allowance and children education allowance are also allowed income tax exemption for salaried employees up to a certain limit.
International Revolutionary leader Fidel Castro No More!
Fidel Castro Red Salute!
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| With his revolutionary mate Comrade Che Guevara |
Comrade Fidel Castro at 90 has breathed his last yesterday night on 25.11.2016! Comrade Fidel liberated the Latin-american 'Cuba' in 1959 through a revolution and established the first socialist system in the continent. Under his able leadership 'Cuba' not only developed as a socialist nation but defeated 60 years of USA's economic blockade. Numerous attempts by CIA to assassinate the revolutionary leader were foiled successfully by Fidel. Fidel is the symbol of defiance against imperialist hegemony; icon of revolutionaries of the contemporary world; icon of Latin American revolutions in many countries; imparting confidence in socialist ideals even after the collapse of socialist world! In fact it is to his credit that the USA came down to establish normal ties with Cuba recently, while Fidel was still alive. A visionary leader of working class is no more! Confederation dips its banner in honour of this international revolutionary leader. - M.Krishnan SG Confederation.
Sunday, November 27, 2016
Saturday, November 26, 2016
2nd CENTRAL WORKING COMMITTEE MEETING OF AIPEU-GDS - DELHI
The 2nd Central Working Committee meeting of AIPEU-GDS (CHQ) has been held on 24-11-2016 in NFPE office, 1st Floor North Avenue PO Building, New Delhi. The meeting presided by Com.Bijoy Gopal Sur, All India President, AIPEU-GDS.
Com.Parashar, Secretary General, NFPE & General Secretary, AIPEU GrC inaugurated the CWC meeting. Com.M.Krishnan, Secretary General, CCGEW invited as Chief Guest. Com.Giriraj Singh, General Secretary, R3 & President, NFPE., Com.R.Sithalakshmi, General Secretary, P4 attended and addressed the meeting.
Organizational issues, Membership verification, GDS Pay Committee Report & ensuing Struggle programmes were discussed in length and suitable guidance and directions given by the NFPE leaders.
A Souvenir has been uncovered by the Secretary General, NFPE; published CHQ on the occasion of the 2nd AIC held at Shimla (HP).
Meeting concluded with the vote of thanks offered by Com.R.Dhanraj, Dy General Secretary, AIPEU-GDS.
New Delhi: The government is going to pay of enhanced allowances to its 4.8 million central government employees according to 7th Pay Commission recommendations in January along with five months arrears, when situation will return to normalcy after cash crunch period.
The payments will be made after cabinet nod following the the committee on allowances report, the finance ministry source said.
The government has to pay the arrears of enhanced allowances this time because the enhanced allowances under recommendations of 7th Pay Commission have not been paid in August when the pay hike and its arrears were paid, he added.
The committee on allowances, which was set up in July this year on the direction of the cabinet, is looking into the provision of allowances other than dearness allowance under the 7th Pay Commission recommendations as the pay commission had recommended of abolishing 51 allowances and subsuming 37 others out of 196 allowances.
The committee met up with the deadline of four months given to it by the cabinet to submit the report, the official revealed.
We are ready to submit our report, when the Finance Minister Arun Jaitley calls up, the committee on allowances head Finance Secretary Ashok Lavasa said recently.
Prime Minister Narendra Modi scrapped Rs 500 and Rs 1,000 notes, which accounted for 86% of all cash in the economy, in a move to catch out Indians with black money, earned by corrupt means or evading taxes. But a bumpy rollout of the new currency has seen millions of people line up outside banks and ATMs.
The situation is worse in in all India. There is an acute shortage of cash supply. Dirty, soiled and non-issuable notes are also being re-circulated.
So, people continue to suffer after demonetisation from November 9 on account of cash crunch and it compels the Finance Minister Arun Jaitley to keep in abeyance the enhanced allowances till things normalize and it is likely to implement from January next with arrears, Finance Ministry official today told on condition of anonymity.
Friday, November 25, 2016
CBI carries out raids at post offices in Hyderabad after irregularities
CBI officials obtained inputs about irregularities in post offices in terms of amount being accepted in old 500, 1000 rupee notes after demonetisation.
Simultaneous raids were conducted on as many as eight post offices in Hyderabad city.
CASH WORTH RS 40 LAKH SEIZED FROM HIMAYATNAGAR POST OFFICE
Reports suggest that during the raids, cash worth Rs 40 lakh was seized from Himayatnagar post office. The raids are going on at the General Post Office in Abids, Narayanguda, Chikkadpally and Himayatnagar areas. CBI officials interrogated the post office staff, inspecting their records and cash reserves relating to transactions since November 9.
| CBI GOT COMPLAINTS ABOUT POST OFFICE STAFF |
Sources say that the CBI has received complaints that some post office staff are allegedly exchanging the demonetised high-currency notes illegally. The sleuths are also verifying certain savings accounts, where a huge amount of money has been deposited post the demonetisation announcement.
Information of cricket and volley ball tournament
Cricket Tournament in Gudur Division tentative date is 27/11/2016.Entries have been called for to conduct cricket tournament among the postal staff in Gudur Division so far 4 teams have been received to participate.SO it is decidec to conduct on 27/11/2016 at Allur Audiseshareddy stadium at Gudur.
Volley ball tournament is also on the same day
CHALO DELHI – CHALO PARLIAMENT
MAKE THE 15TH DECEMBER 2016 PARLIAMENT MARCH
A HISTORIC SUCCESS
20000 CENTRAL GOVERNMENT EMPLOYEES WILL MARCH TO PARLIAMENT
To
1. All National Secretariat Members (office bearers)
2. Chief Executives of all affiliated organisations
3. General Secretaries of all C-O-Cs.
Dear Comrades,
Please refer to the previous circulars on the above subject. Reports so far received at CHQ shows that all affiliates and C-O-Cs are making intensive preparations for the Parliament March to ensure participation of employees as per the quota fixed by the National Secretariat meeting held on 30.09.2016.
AFFILIATES & C-O-CS IN DELHI AND NEAR BY STATES SHOULD ENSURE PARTICIAPTION OF HUNDREDS AND THOUSANDS OF EMPLOYEES.
All affiliated organisations and C-O-Cs in Delhi, Uttar Pradesh, Haryana, Punjab, Rajasthan, Himachal Pradesh, Uttarakhand, Madhya Pradesh, Chattisgarh, Bihar etc. are requested to mobilise hundreds and thousands of employees for the Parliament March.
CONDUCT CAMPAIGN PROGRAMMES
Please conduct serious campaign programmes. Print notices, posters, circulars etc. and circulate widely among employees and public. Book special conveyance. Bring maximum flags, banners and Placards. Convene your organization’s managing bodies and make effective planning for bringing maximum employees to Delhi.
ACCOMMODATION FOR PARTICIPANTS
The national Secretariat has decided that the accommodation for the participants from major organisations is to be arranged by the respective organization. For others, if accommodation is required, they are requested to contact the following CHQ office bearers (office bearers of Delhi COC).
1. Com. Vrigu Bhattacharjee 2. Com. Giriraj Singh
General Secretary, COC Delhi State President, COC Delhi State
& Financial Secretary, Confederation CHQ & Vice President Confederation CHQ
Mob: 09868520926 Mob: 09811213808
CLIMATE
Climate in Delhi in December will be cold (Sometimes severe cold). Participants may bring warm clothings.
FLAGS, BANNERS & PLACARDS
Participants are requested to bring flags, placards with slogans and banners in large number
PUBLICITY IN LOCAL MEDIA
Maximum effort may be made to give wide publicity for the Parliament March through local print & electronic media, social media etc.
NATIONAL EXECUTIVE MEETINGS OF CONFEDERATION
National Executive Meeting of the Confederation will be held on 16th December 2016 (next day of the Parliament March) at New Delhi at 10 AM. Venue: MP’s Club, OPP. NFPE office, North Avenue, New Delhi. All National Secretariat members, Chief Executives of all affiliated organisations (with minimum 500 membership) and General Secretaries of C-O-Cs are requested to attend the meeting without fail. Meeting will continue upto 5 PM. Please book your travel tickets accordingly.
1ST MEETING OF THE NEWLY ELECTED WOMEN’S COMMITTEE OF CONFEDERATION
1st Meeting of the newly elected Women’s Committee of the Confederation will be held on 15.12.2016 (Day of Parliament March) at 4 PM at New Delhi. Venue: NFPE office, 1st Floor, North Avenue Post office building. All affiliated organisations and C-O-Cs are requested to ensure participation of the women committee members nominated by them in the meeting on 15.12.2016 at 4 PM.
Fraternally yours,
(M. Krishnan)
Secretary General
mkrishnan6854@gmail.com
Mob: 09447068125
High Court of Gujarat has published an Advertisement for below mentioned Posts 2016. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.
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Pay Scale: Rs. 27700/- to Rs. 44850/- + Allowances
Selection Process : Candidates will be selected based on competitive written exam & Interview
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Accusations abound in Supreme Court during demonetisation hearing
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| A view of Supreme Court building in New Delhi. | Photo Credit: V. Sudershan |
The morning’s hearing began with senior advocate Kapil Sibal claiming that “people were starving on the roads.”
As accusations overawed decorum in the demonetisation hearing, a Supreme Court Bench led by Chief Justice T.S. Thakur urged lawyers to maintain the dignity of the court while assuring all that the judiciary will “certainly” hear both the ground realities and weigh the constitutionality of the November 8 RBI notification.
In a hearing on the demonetisation issue on Friday, the apex court said it will on December 2 comprehensively hear everyone involved on the various questions, including the hardships caused by demonetisation, the transferring of petitions filed in the various High Courts to Delhi, the constitutional validity of the RBI notification, and finally whether the issue should be referred to a Constitution Bench.
In this, the Bench accepted the suggestion of the government that it was better to hear the demonetisation issue in its totality on December 2 rather than in a piecemeal fashion.
Attorney General Mukul Rohatgi submitted that the government’s petition to transfer all demonetisation-related cases from other High Courts to the National Capital is already scheduled for hearing on December 2. “In that case the four separate petitons — listed today for hearing — should also be heard on the same day. This would ensure that the court can take an informed decision after considering all the aspects of the issue,” Mr. Rohatgi said.
Agreeing to this, Justice Thakur said the Bench would keep its calendar clear on December 2 at 2 p.m. for a detailed hearing.
The morning’s hearing began with senior advocate Kapil Sibal, appearing for a petitioner, claiming that “people were starving on the roads.”
“Nobody is starving on the roads,” Mr. Rohatgi said, dismissing the claim. “The markets are closed,” Mr. Sibal retorted.
At this point, advocate Manohar Lal Sharma, who claimed that the new Rs. 2000 bank notes bleed and can be easily faked, wrested the floor from Mr. Sibal, claiming “all the banks are closed.”
“Maximum cash has gone into BJP hands,” Mr. Sharma declared as shouts of protest rose from several of the lawyers in the courtroom.
Then lawyers vied with each other, raising their hands for the court’s attention as pandemonium threatened.
Justice Thakur, who along with Justice D.Y. Chandrachud, maintained silence all through. But the Chief Justice reined in the confusion by issuing a stern warning that the court would adjourn the hearing by another six weeks unless order was restored immediately.
“Everyone is shouting with their hands over the other’s shoulder. This is a courtroom and there is some decorum to be observed here. We will adjourn the case for hearing after the vacation,” Chief Justice Thakur addressed the crowded courtroom.
“There are some really serious issues here, My Lords,” Mr. Sibal interceded.
“If there is a difficulty, you tell us what the problems are,” Chief Justice Thakur addressed the senior lawyer.
“There is a lot of inconvenience. They don’t have the capacity to print the new currency. What are they going to do?” Mr. Sibal stressed.
“If you want us to look into it... We will certainly do... But we will hear all. We cannot hear this issue piecemeal,” Chief Justice Thakur said, refusing Mr. Sibal’s plea to advance the hearing to Tuesday next.
source : http://www.thehindu.com/
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