Salaried Women to get higher Income Tax Exemption Limit – Media news

Finance minister Arun Jaitley is restructuring tax slabs and is thus set to approve a proposal to raise the tax exemption limit to Rs 3 lakh from existing Rs 2 lakh.

The Modi government will ease the tax burden on the middle class and impose a higher tax on the super rich in its first Budget to be presented by Union finance minister Arun Jaitley next month.

According to the proposal, under consideration of the new government, there would also be a tax on the super- rich bracket, comprising those earning Rs 10 crore or more of 35 per cent. This category would be above the Rs 1 crore, class which currently pays an effective tax of 33 per cent inclusive of a surcharge that the earlier government had introduced.

India’s tax regime is being overhauled by Finance minster

Women will be offered a higher tax relief —the threshold income below which individuals are not liable to pay taxes—for women could be fixed at between Rs. 3,25,000 to Rs. 3,50,000.
Rs. 1 lakh annual tax deduction allowed under Section 80C of the Income-tax Act has not kept pace with the rising inflation and needs revision.
a separate deduction of at least Rs 1 lakh per year specifically for education is being considered
Exemption on home loans: To reduce the burden on households for the interest paid onhousing loan for a self-occupied house property a deduction of up to Rs 1.5 lakh is allowed. It can be increased to Rs 5 lakh per year.

Moreover, a proposal to reduce the age for tax exemption for senior citizens to 60 years from 65 years is also under consideration.

EXISTING TAX STRUCTURE

Income of less than Rs. 2 lakh a year are exempt from paying taxes.

Earning between Rs. 2 lakh and Rs. 5 lakh annually are taxed at 10%,

Between Rs. 5 lakh and Rs. 10 lakh at 20%

Earning more than Rs. 10 lakh pays a tax of 30%.

Gas Price Hike Deferred by 3 Months

The Cabinet on Wednesday decided to maintain status quo on prices of domestically produced natural gas for three months.

Oil Minister Dharmendra Pradhan addressing a press conference after the Cabinet meeting said the issue requires comprehensive discussion.

The government also clarified that there is no proposal from the petroleum ministry's side for any hike in LPG or kerosene prices.

Gas price was set to almost double from the current level of $4.2/unit from April 1 but was not implemented by the earlier UPA government after the Election Commission asked for its deferment till the elections are over.

The UPA government had relied on the Rangarajan formula to arrive at the $8.4 per unit price, but the Bharatiya Janata Party (BJP) had promised to review the formula.

The government is already struggling with persistently high inflation. Consumer price inflation in India has been running near or above 10 per cent for almost two years through the end of 2013.

According to estimates, every dollar increase in gas price will lead to a 45 paise per unit increase in electricity tariff. CNG prices would increase by a minimum Rs. 2.81 per kg, while PNG prices will go up byRs. 1.89 per unit for every dollar rise in gas prices. Urea prices will go up by Rs. 1,370 per ton.

Guidelines regarding handling of

complaints

In Ministries and Departments

No. 104/76/2011-AVD.l
Government of India
Ministry of Personnel, Public Grievances & Pension
Department of Personnel & Training

New Delhi, the 18th June, 2014.

Office Memorandum

Subject:- Guidelines regarding handling of complaints In Ministries and Departments.

The undersigned is directed to refer to this Department’s O.M. of even number dated 18.10.2013 on the above subject and to say that the Ministries/Departments of the Government of India have been seeking clarifications from this Department on operation of the aforesaid O.M. The matter has been considered and it is clarified as under:

(j) ‘Anonymous complaints’ are such complaints which do not carry both, name and address of the complainant and need to be dealt with in terms of para 3 (1) of the DOP&T O.M. dated 18.10.2013 referred to in para 1 above, irrespective of the nature of allegations.

(ii) The complaints other than anonymous complaints which contain vague allegations need to be dealt with in terms of para 3 (ii) of the DOP&T OEM. dated 18.10.2013 referred to in sub- para (j) above.

(iii) The complaints which contain verifiable allegations and are not anonymous, need to be dealt with in terms of para 3 (lU) of the DOP&T O.M. dated 18.0.2013 referred to in para 1 above

sd/-
(G. Srinivasan)
Under Secretary to the Govt. of India

Payment banks cannot launch other financial operations

The Reserve Bank of India (RBI) has accepted the Nachiket Mor committee’s recommendations on introducing payment banks — specialised banks to provide services to small businesses — after making some significant changes to the proposed characteristics of these entities.

To begin with, the central bank will set the initial capital requirement at Rs 100 crore, compared with the Rs 50 crore the Mor panel had suggested. For computing the capital adequacy ratio, unlike full-service banks, payment banks will only factor in operational risk, and not market risk and credit risk.

However, while existing banks might be allowed to create subsidiaries for payment banks, such banks would not be allowed to undertake any other activity apart from accepting deposits and offering payment services. The payment banks would not even be allowed to undertake lending activities.

This is a departure from the principle the regulator follows at present — that an activity a bank can undertake departmentally is allowed to be undertaken as a subsidiary as well. For example, RBI has in the past five years or so allowed insurance or mutual funds to operate as subsidiaries but not granted fresh licences for opening subsidiaries for home loans or infrastructure loans.

The central bank will come out with norms for payment banks shortly. This will be the first in the list of RBI’s stated objectives of bringing niche bank licences. Most of the existing banks had received universal or full-fledged banking licences.

While non-banking financial companies will be allowed to open payment banks, mainstream NBFCsengaged in financial activities like lending and broking might find the guidelines hard to accept, as they have to exit all other activities to be eligible for payment banks.

Additionally, sources indicate, the fit-and-proper criteria will also be judged rigorously while granting licences.

Payment banks will only be involved in activities related to retail payment and remittance and will focus on unbanked areas. They have to maintain a cash reserve ratio and all their deposits will have to be invested in government securities. The maximum deposit a payment bank can take from one individual will be capped. The Mor committee had suggested the cap at Rs 50,000.

Payment banks are also aimed at catering to migrant workers in metros or Tier-I cities who need to send money to their families at their native places. These banks will also offer services like utility bill payments.

Pre-paid instrument providers are seen forming these payment banks. These entities have relaxed know-your-customer norms, while the value of transactions is capped.
The norms on payment banks will also pave the way for the country’s postal department, India Post, to enter the niche banking segment. Sources indicate the norms will allow India Post to apply for a payment bank licence.
India Post had applied for a universal bank licence when RBI invited applications in 2013. While the telecom ministry had backed India Post’s ambition to become a full-fledged bank, the finance ministry was not keen, given the government’s financial burden.

Reducing Delays in First Payment of Pension

Government of India

Ministry of Personnel, Public Grievances & Pensions

Sub : Reducing Delays in First Payment of Pension – Submission of Undertaking along with Pension Papers – Issue of PPO on the Date of Retirement – Reg

The Government has observed that the first payment of pension after retirement gets delayed mainly due to two reasons. One, the delay in receipt of intimation by the pensioner that pension papers have reached the bank and two, delay on part of the pensioner in approaching the bank for submission of undertaking that he shall refund or make good any amount to which he is not entitled.

In a recent workshop with Pension Secretaries of State Governments, Dr. Jitendra Singh, Minister of State for Personnel, Public Grievances and Pensions stated that the Government had decided that the required “Undertaking” may be obtained by the Head of Office from the retiring Government servant and forwarded to the pension disbursing bank along with the PensionPayment Order (PPO). The bank shall credit the pension to the account of the pensioner as soon as this Undertaking is received along with the pension documents. The pensioner would no longer be required to visit the bank to activate the first payment of pension.

This change in procedure has one additional advantage that the PPO can now be handed over in person to the retiring employee along with other retirement dues. Earlier the pensioner had to approach the bank to his copy of PPO.

With this change in rules and procedures, the pensioners would be saved considerable inconvenience and delay and his pension will commence as soon as he retires.

This and other reform initiatives were brought forth by Dr. Jitendra Singh, Minister of State in his meeting with the Pension Secretaries of State Governments held on June 12, 2014.

Source : PIB News

நமது இந்த மாத Monthly Meeting Subjects...

FNPO

NAPE GROUP “C”

PATTUKOTTAI DIVISONAL BRANCH

PATTUKOTTAI – 614 601

NO/P3/MM/Dated at Pattukottai- 614 601 the 16-06-2014.

The Supdt., of Post Offices,

Pattukottai -614 601.

Madam,

Sub: Subjects for monthly meeting–reg.

The following subjects may please be included in the monthly meeting.

1. Computer papers are not being supplied periodically. Moreover, the required category of papers are not being supplied. I ply computer papers are being supplied instead of II ply computer papers and vice versa.

The same subject has been placed in the monthly meeting held on 26.9.2013. The subject was closed by the SPOs with the reply that average utilization would be calculated and supply would be regulated. But the same is yet to be implemented.

2. Shri.Appu swaminathan is deputed as SPM, Tiruvonam SO for a very long period. He has credited a sum of Rs.7500/- in UCR due to overpayment of TA. This is the problem in Ottangadu SO and Alathur SO where FNPO members are deputed to officiate as Sub Postmasters. Immediate alternate arrangement or break in appropriate period is requested.

3. Three subjects (item no. 16, 17 & 18 /2013) have been placed by this union in the monthly meeting held on 30.8.2013, regarding irregular utilization of outsourcing by the officiating Postmaster, Pattukottai HO. The subject was closed by the SPOs after obtaining report from the same officiating postmaster, without conducting any verification / enquiry. An immediate action is required in this matter on war footing basis.

4. One subject regarding partiality shown by the officiating postmaster, Pattukottai HO in deputation arrangements has been placed by this union (21/2013) in the monthly meeting held on 30.8.2013. The SPOs has replied that the postmaster, Pattukottai HO would be instructed suitably. But the same partiality attitude is being followed by the officiating postmaster, Pattukottai HO, till now. An immediate action is required in this matter on war footing basis.

5. Request for posting of one PA for Ayakarambalam II Sethi SO

6. The copy of SPOs order for Rotational Transfer has not been supplied to the service unions despite the oral request.

7. Action taken on this union representation dated 11.4.2014 regarding irregular functioning of women’s welfare association at Pattukottai postal division is not known. No instruction seems to be given to stop the irregular activities in the name of “women’s welfare association”. Hence their atrocities are being continued till date such as enrolling new recruits in AIPEU Gr C, etc.

8. Nadimuthunagar A cl SO is functioning with a working strength 1+1. As and when one official among them goes on leave, only additional outsourcing is permitted by divisional office, instead of deputing a PA from other offices, even there is sufficient staff strength at nearby offices. It is requested to depute a PA to Nadimuthunagar A cl SO, when the office has to function single handedly.

9. The evening mails are being despatched through Parimal Transports at Tiruvonam SO at present. The timings of this MMS is not suitable to include mails received from BOs. Hence one alternate MMS "Malar Transports" has been suggested by the SPM. As instructed by DO, written request has also been submitted by the SPM, Tiruvonam. Evenafter lapse of three months, no orders have been issued for change of MMS. Necessary immediate action may kindly be taken in this regard.

The following officials will attend the meeting.

1. K.Sankar, Divisional President & PA, Tiruturaipundi HO

2. S.Arulselvan, Divisional secretary & PA, Pattukottai HO.

3. V. Sathish, SPM, Avanam SO

Thanking you

Yours faithfully,

(S. ARULSELVAN)

Tiruturaipundi HPO,Migrated to CBS Finacle on 16-06-2014

Go Live Photos

ஜூலை 1 முதல் உயருகிறதுபி.எஸ்.என்.எல்., கட்டணம்

பி.எஸ்.என்.எல்., தரைவழி போனில் இருந்து, மொபைல் போன் மற்றும் வில் போன்களுக்கு செய்யப்படும் அழைப்புகளுக்கான கட்டணம், ஜூலை, 1ம் தேதி முதல் உயருகிறது.இதுகுறித்து, பி.எஸ்.என்.எல்., வெளியிட்டுள்ள அறிக்கை:பி.என்.என்.எல்., தரைவழி போனில் இருந்து, பி.எஸ்.என்.எல்., வில் போனுக்கு செய்யப்படும் உள்ளூர் அழைப்புகள், முன்பு, 180 வினாடிகள் ஒரு அழைப்பாக இருந்தது, 120 வினாடிகளாக குறைக்கப்படுகிறது. இதேபோல், பி.எஸ்.என்.எல்., மொபைல் போன்களுக்கு செய்யப்படும் ஒரு அழைப்பு, 120 வினாடியிலிருந்து, 90 வினாடியாக குறைக்கப்படுகிறது. பி.எஸ்.என்.எல்., தரை வழி போனில் இருந்து, தனியார் நிறுவன மொபைல் போன்களுக்கு செய்யப்படும் ஒரு உள்ளூர் அழைப்பு, 120 வினாடியாக இருந்தது, 90 வினாடியாக குறைக்கப்படுகிறது.

பி.எஸ்.என்.எல்., தரை வழி போனிலிருந்து, பிற தனியார் மொபைல் போன்களுக்கு செய்யப்படும், ஒரு வெளியூர் அழைப்பு, 120 வினாடியிலிருந்து, 90 வினாடியாக குறைக்கப்படுகிறது.மேலும், கிராமப்புற இணைப்புகளுக்கு, நிர்ணயிக்கப்பட்டு இருந்த மாதாந்திர கட்டணம், 110 ரூபாயிலிருந்து, 120 ரூபாயாக உயர்த்தப்படுகிறது.இவ்வாறு, அறிக்கையில் கூறப்பட்டு உள்ளது.அழைப்புக்கான கால அளவு குறைக்கப்படுவதால், பி.எஸ்.என்.எல்., தரை வழி போன் கட்டணம், ஜூலை, 1ம் முதல் உயருகிறது.

மோடி பயத்தால் முக்கிய திட்டங்களை 24 மணிநேரத்தில் உறுதி செய்த அமைச்சகங்கள்

டெல்லி: பிரதமர் நரேந்திர மோடிக்கு பயந்து அமைச்சக அதிகாரிகள் படு சுறுசுறுப்பாக வேலை செய்கிறார்களாம்.ஜனாதிபதி பிரணாப் முகர்ஜி மோடி அரசின் தலையாய திட்டங்கள் குறித்து நாடாளுமன்றத்தில் பேசினார். இதையடுத்து அந்த திட்டங்கள் குறித்த விளக்க உரைகளை சம்பந்தப்பட்ட அமைச்சகங்கள் தயாரிக்க துவங்கிவிட்டனவாம்.

முக்கிய திட்டங்களை பிரதமர் அலுவலகம் தேர்வு செய்து அது குறித்த விளக்கமான திட்டங்களை விரைந்து தயாரித்து அளிக்குமாறு அமைச்சகங்களுக்கு உத்தரவிட்டப்பட்டது என்று கூறப்படுகிறது. பிரதமர் இந்த திட்ட விளக்கங்களை எப்பொழுது பார்ப்பார் என்பது தெரியாததால் அமைச்சகங்கள் 24 மணிநேரத்திற்குள் திட்ட விளக்கங்களை தயார் செய்து அவற்றை அமைச்சக செயலகத்திற்கு அனுப்பி வைத்துள்ளன.

பிரதமர் அலுவலகம் தெரிவித்த விவகாரங்களுக்கு பதில் அளிப்பதில் மூத்த அதிகாரிகள் கடந்த செவ்வாய்கிழமை பிசியாக இருந்தனர்.அனைத்து வீடுகளுக்கும் கழிப்பறை, சுத்தமான குடிநீர் வழங்க மோடி அரசு முனைப்பாக உள்ளதால் ஸ்வச் பாரத் மிஷன் திட்டம் குறித்த விளக்க உரையை குடிநீர் மற்றும் வடிகால் வாரியம் தயார் செய்து வருகிறது.நகரங்களை மேம்படுத்த, புதிய நகரங்களை உருவாக்க தேவையான திட்ட விளக்கங்களை நகர்ப்புற மேம்பாட்டுத் துறை அமைச்சகம் தயாரித்துக் கொண்டிருக்கிறது என்பது குறிப்பிடத்தக்கது.

Release of Commemorative Postage Stamp on 2014 FIFA World Cup
A set of tour Commemorative Postage Stamps on 2014 FIFA World Cup will be released by
Hon'ble Prime Minister of India, Shri Narendra Modi on 12rh June, 2014 in Delhi at 18OO Hrs. The sale of
said stamp will be commenced after 1830 Has at all the Philatelic Bureau.

F.No. 16-98/2013-Phil -sd-
Dated : 09.06.2014 (Rashfsharma)
Ptace: Dak Bhawan, New Delhi -01 Director(philately)