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AICPIN for the month of June 2012

By
igeadmin
-

All-India Consumer Price Index Numbers for Industrial Workers on Base 2001=100 for the Month of June 2012

All India Consumer Price Index Number for Industrial Workers (CPI-IW) on base 2001=100 for the month of June, 2012 increased by 2 points and stood at 208 (two hundred eight).

During June, 2012, the index recorded maximum increase of 8 points each in Mercara and Godavarikhani centres, 7 points in Puducherry centre, 5 points in Madurai, Howrah, Chennai, Lucknow and Warrangal centres, 4 points in 7 centres, 3 points in 13 centres, 2 points in 11 centres, 1 point in 18 centres. The index decreased by 2 points each in Ludhiana and Mysore centres and 1 point in 5 centres, while in the remaining 14 centres the index remained stationary.

The maximum increase of 8 points in Mercara centre is mainly due to increase in the prices of Rice, Poultry (Chicken), Tea (Readymade), Coffee (Readymade), Bidi, Refined Liquor, Firewood, Cinema Charges, Bus Fare, etc. In Godawarikhani centre this increase of 8 points is mainly due to increase in the prices of Rice, Arhar Dal, Moong Dal, Groundnut Oil, Vegetable & Fruit items, Firewood, Petrol, Toilet Soap, etc. The increase of 7 points in Puducherry centre is due to increase in the prices of Rice, Arhar Dal, Poultry (Chicken), Fish Fresh, Fish Dry, Eggs (Hen), Vegetable & Fruit items, Cigarette, Cinema Charges, Petrol, Tailoring Charges, etc. The increase of 5 points in Madurai, Howrah, Chennai, Lucknow and Warrangal centres is due to increase in the prices of Rice, Arhar Dal, Poultry (Chicken), Fish Fresh, Eggs (Hen), Vegetable & Fruit items, Petrol, Tailoring Charges, etc. The decrease of 2 points in Ludhiana centres is mainly due to decrease in the prices of Onion, Vegetable & Fruit items, Firewood, etc. and the decrease of 2 points in Mysore is due to decrease in the prices of Rice, Vegetable & Fruit items, etc.

The indices in respect of the six major centres are as follows :

1. Ahmedabad – 205
2. Bengluru – 211
3. Chennai – 197
4. Delhi – 188
5. Kolkata – 200
6. Mumbai – 212

The point to point rate of inflation based on CPI-IW(General) for the month of June, 2012 is 10.05% as compared to 10.16% in May, 2012. Inflation based on Food Index declined to 10.45% in June, 2012 from 10.61% in May, 2012.

The CPI-IW for July, 2012 will be released on the last working day of the next month, i.e. 31st August, 2012.

-PIB

Due Date of E-Filing of Income Tax Returns for Assessment Year 2012-13 Extended up to 31st August, 2012

By
igeadmin
-

On consideration of the reports of disturbance of general life caused due to failure of power and further in consideration of the fact that the e-filing of returns for a specified category of individuals and HUF has been made mandatory, the Central Board of Direct Taxes (CBDT), in exercise of powers conferred under section 119 of the Income Tax Act, 1961, has extended the ‘due date’ of filing of returns of income for the Assessment Year 2012-13 to 31st August 2012. This has been done in respect of assesses who are liable to file such returns by 31st July 2012 as per provisions of section 139 of Income Tax Act, 1961

India Post Announces Special Discount of 6.5% on Gold Coins for Raksha Bandhan

By
igeadmin
-

For this Raksha Bandhan, India Post has announced a special discount of 6.5% on purchase of Gold coins.

On 1st August 2012 any customer who buys gold from identified Post Offices in Delhi will get a special 6.5% discount of the day`s retail price on all denominations.This offer is available in all 31 Post Offices of Delhi indentified for the sale of Gold Coins.

These gold coins bear unique logo of India Post and are available in denominations of 0.5 gms, 1gms, 5gms, 8gms, 10gms, 20gms & 50gms for sale across counters at select Post Offices. These coins are having purity rating of 24 karat 99.99% from Valcambi, under Swiss certification and are available in tamper-proof packaging having benefits like internationally recognized certification, low risk of duplication, quality packaging, product standardization and numbering with assayer certification.

Empanelment of Annuity Service Providers (ASPs) for National Pension System (NPS)

By
igeadmin
-

Empanelment of Annuity Service Providers (ASPs) for National Pension System (NPS) for providing annuity services to the subscribers of National Pension System

04th May, 2012

Subscribers to the National Pension System (NPS) will now have a choice of Annuity Service Providers, from whom they can choose their annuity schemes on their exit from NPS on attainment of 60 years of age. Pension Fund Regulatory and Development Authority (PFRDA) has empaneled the following six IRDA approved life insurance companies for providing annuity services to the subscribers of National Pension System (NPS).

1. Life Insurance Corporation of India
2. SBI Life Insurance Co. Ltd.
3. ICICI Prudential Life Insurance Co. Ltd.
4. Bajaj Allianz Life Insurance Co. Ltd.
5. Star Union Dai-ichi Life Insurance Co. Ltd.
6. Reliance Life Insurance Co. Ltd.

2. It may be mentioned that under the provisions of NPS, a maximum of 60% of
corpus accumulated at the time of exit, normally on the attainment of 60 years
of age, can be withdrawn but a minimum of 40% corpus has to be utilized for
purchasing an annuity from one of the empanelled annuity service providers.
Subscriber can choose from any of the six above mentioned annuity service
providers and can also make their choice of the annuity scheme from amongst
the schemes being offered by these providers.

3. With the above empanelment, PFRDA has taken an important step towards
providing an exit route to the subscribers.

Sd/
Venkateswarlu Peri
General Manager

Original Copy

http://pfrda.org.in/writereaddata/eventimages/Empanelment%20of%20ASP4965489478.pdf

Free Rail Travel Facility to Arjuna Awardee Sportspersons Extended to Rajdhani/Shatabdi Trains also

By
igeadmin
-

The Ministry of Railways has decided that the Complimentary Card Passes issued to sportspersons who are Arjuna Awardees shall now be valid for travel in 1st Class/2nd AC in Rajdhani trains and Chair Car (CC) in Shatabdi trains besides being valid for travel in 1st Class/2nd AC in other mail/express trains (except Duronto trains) over All Indian Railways (except Metro Railway/Kolkata) as per the existing provision. A circular dated 20th July 2012 of Railway Board has been sent to all the Zonal Railways for implementation.

The said Card Pass entitles them lifelong free travel for self only. In addition, the Arjuna Awardee sportsperson is entitled to facility of a companion in the same class along with the sportsperson on this complimentary card pass on attaining the age of 65 years. In case of Arjuna Awardee Sportsperson, the companion allowed at the age of 65 years shall also be entitled to travel in the same class along with the Arjuna Awardees in Rajdhani/Shatabdi trains.

As per extant policy, Ministry of Railways provides 1st Class/2nd AC Complimentary Card Passes to meritorious sportspersons who are Arjuna Awardees, Olympic Medalists, Gold Medalists in Asian or Commonwealth Games or Dronacharya Awardees. The said Card pass entitles them life long free rail travel for self only in 1st Class/2nd AC over all-Indian Railways (except Metro Railway/Kolkata) by any train other than Rajdhani/Shatabdi trains. The policy further prescribes that sports-person is entitled to facility of a companion in the same class on the aforesaid card pass on attaining the age of 65 years. From now on in case of Arjuna Awardees and their companions only the facility has been extended for travel in Rajdhani/Shatabdi trains.

-PIB

Complimentary Railway Card Pass Facility Extended to ‘Civilian’ Recipients of ‘Chakra’ Awardees

By
igeadmin
-

The Ministry of Railways has decided that the civilian recipients of gallantry awards of Chakra series (namely Param Vir Chakra, Maha Vir Chakra, Vir Chakra, Ashok Chakra, Kirti Chakra and Shaurya Chakra) will also be provided 1st /2nd Class AC Complimentary Card passes on the lines as admissible to Defence awardees. The procedure and other conditions for issue of such Card Passes to civilian Chakra awardees will remain the same as applicable to Defence awardees.

As per extant policy, Ministry of Railways provides 1st Class/2nd AC Complimentary Card passes to Defence personnel recipients of gallantry awards of Chakra series and to widows of posthumous gallantry awardees of Chakra series viz. Param Vir Chakra, Maha Vir Chakra, Vir Chakra, Ashok Chakra, Kirti Chakra and Shaurya Chakra. The Card Pass entitles them life-long free rail travel in 1st Class/2nd AC Class along with one companion in same class over all India Railways except Metro Railway/Kolkata. From now on, this facility will now be available to both civilian and Defence personnel recipients of Chakra Awards.

Income Tax Department Starts Two More Taxpayer Friendly Initiatives : ‘Register for Home Visit’ and ‘Online Tax Help’

By
igeadmin
-

In order to make the Income Tax Return filing experience even more convenient, the Income Tax Department has started two more taxpayer friendly initiatives ‘Register for Home Visit’ and ‘Online Tax Help’. To avail these facilities, a taxpayer must visit the website www.trpscheme.com and take help of trained professionals either online or at their homes. The taxpayer can choose between ‘online help’ or ‘home visit’.

On choosing the option of online tax help, the taxpayer can fill in his tax related query along with his contact details. The online query will be resolved by tax experts through Email or Phone within 24 hours.

The taxpayers who choose to register for home visit, will be asked to indicate in short the help required by them and a convenient date and time when the Tax Return Preparer (TRP) can visit them for assistance. The help desk will forward the query of the taxpayer to the nearest available TRP and fix the appointment telephonically. The TRP will then visit the taxpayer and render assistance. The facility is aimed to facilitate taxpayers in filing their return and thereby reducing their cost of compliance. The TRPs are allowed to collect fee from the taxpayers as per the TRP notification subject to a maximum of Rs. 250 per return preparation. The facility for home visit by TRPs has been presently made available in few cities such as Bangalore, Chennai, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, New Delhi, and Patna. The facility would be extended to more cities during the next phase.

The TRP scheme call center 1800-10-23738 may be called for further information regarding these initiatives.

The Tax Return Preparer Scheme is an initiative of the Income Tax Department to help small and marginal tax payers in filing of their Income Tax Returns. This Scheme is applicable to individual and HUF tax payers who can take assistance of TRPs in preparation and filing of their Income Tax Returns. The TRPs are self employed graduates who are trained by the Income Tax Department for filing of Income Tax Returns as well as quarterly TDS statements. The TRPs are authorized to collect nominal charges of Rs. 250 or less from the tax payers for preparing their Income Tax Returns. The Department also pays incentive to the TRPs for preparing of returns of tax payers which is a percentage of the total tax paid as per the returns prepared by the TRP subject to a maximum of Rs. 1000/-.

-PIB

Cabinet Approves out of turn Promotion for Outstanding Sportspersons

By
igeadmin
-

The Union Cabinet has approved a policy to promote sportspersons for excellence in international sports events. In its meeting held last evening, it approved giving upto three out of turn promotions in their service career for winning medals in Olympic Games, Commonwealth Games, Asian Games and World Championships. The sportsperson winning a medal or more than one medal in a Game/Team Events/Championships in a particular year will be eligible for an out of turn promotion in that year. Further record-breaking medal winning performance in National Games will also be considered for one out of turn promotion during the service career. Two out of turn promotions will be given for performance as a Coach, if he/she has trained a sportsperson who wins a medal in international sports events.

This would be in addition to the monetary reward scheme of the Government already in existence for all medal winners in international sports events and their coaches where the quantum of monetary rewards for individuals is upto Rs. 50 lakh for medal winning performance in Olympic Games, Asian Games and World Championships.

The scheme for out-of-turn promotion to Sportspersons/Coaches will be framed by Department of Personnel and Training (DoP&T). The scheme will be helpful in improving the performance of individual sportsperson and will play a big role in promotion of sports among the masses. The out of turn promotion to a coach will encourage formation of pool of talent within government organizations which can be effectively utilized for training sportspersons. The proposed policy will cover all the sportspersons working with Central Government Ministries and Department.

Exemption of Salaried Employees from Requirement of Filing of Returns for Assessment Year 2012-13

By
igeadmin
-

Central Board of Direct Taxes (CBDT) vide its Notification No. 9/2012 dated 17th February, 2012 has exempted salaried employees from the requirement of filing the returns for assessment year 2012-13. The exemption is applicable only if all the following conditions are fulfilled:-

• Employee has earned only salary income and income from savings bank account and the annual interest earned from savings bank account is less than Rs. 10 thousand.

• The total Income of the employee does not exceed Rs. 5 Lakh (Total Income means Gross Total Income Less deductions under Chapter VIA).

• The Employee has reported his PAN to the employer.

• Employee has reported his income from interest on savings bank account to employer.

• Employee has received Form 16 from his employer.

• Total Tax Liability of employee has been paid off by employer by way of TDS and employer has deposited TDS with central government.

• Employee has no refund claim.

• Employee has received salary only from one employer.

• Employee has not received any Notice from Income Tax Department for filing of Income Tax return.

Fixation of enhanced family pension – pre-2006 pensioners/family pensioners – clarification regarding

By
igeadmin
-

F.No.1/3/2011-P&PW(E)
Government of India
Ministry of Personnel, P.G. & Pensions
Department of Pension & Pensioners’ Welfare

3rd Floor, Lok Nayak Bhavan,
Khan Market New Delhi
Dated: the 25th May, 2012

OFFICE MEMORANDUM

Subject: Fixation of enhanced family pension – pre-2006 pensioners/family pensioners – clarification regarding.

The orders of the Government on implementation of the recommendations of the 6th Central Pay Commission were issued by this Department in September, 2008. The family pension in respect of pre-2006 pensioners/ family pensioners was consolidated w.e.f. 01.01.06 as provided for in this Department’s O.M. No.38/37/08-P&PW(A), dated 01.9.08 and clarified vide O.M. No. 38/37/08-P&PW(A).Pt.I, dated 03.10.08 and 14.10.08.

2. The fixation of family pension at ordinary rates is subject to the provision that the revised family pension in no case shall be lower than 30% of the minimum of the Pay in the pay band plus the grade pay corresponding to the pre-revised pay scale from which the pensioner had retired. In case of HAG and above scales it is 30% of the minimum of the revised pay scale. In the cases of such employees who retired/died on or before 31.12.2005, the family pension at enhanced rates was also required to be revised.

3. It is clarified that the revised enhanced family pension, under sub-rule 3(a) of Rule 54 of the CCS (Pension) Rules, 1972, during the applicable period, shall also be determined as per para 4.1 of O.M. No.38/37/08-P&PW(A), dated 01.9.08. Further, it shall not be less than 50% of the sum of minimum of the pay in the pay band plus the grade pay or 50% of minimum of pay scales in case of HAG and above, corresponding to the pre-revised pay scale in which the pensioner/deceased employee had last worked.

4. In cases where the pension authorized on retirement was less than 50% of the last pay drawn and amount of pension revised after 1.1.2006 is also less than 50% of the sum of minimum of the pay in the pay band plus grade pay or 50% of minimum of revised pay scales in case of HAG and above, the revised enhanced family pension may be less than 50% and shall be restricted to that amount.

5. In the case of a pensioner who died prior to 01.01.2006, the notional revised pension as on 01.01.2006 shall be taken into account for the purpose of calculation as above. In all cases, the amount of revised enhanced family pension shall not be less than 30% of the sum of minimum of the pay in the pay band plus the grade pay or 30% of minimum of pay scales in case of HAG and above.

6. As regards pensioners/family pensioners belonging to the Indian Audit and Accounts Departments, these Orders issue after consultation with the Comptroller and Auditor General of India.

7. This issues with the concurrence of Ministry of Finance, Department of Expenditure vide their U.O. No.253/E.V/2012, dated 26.4.2012.

8.Hindi version will follow.

(K.K.Mittal)
Director

Original Order

http://circulars.nic.in/WriteReadData/CircularPortal/D3/D03ppw/FP_25052012.pdf

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