Status of Implementation of OROP

Status of Implementation of OROP Ministry of Defence Press Information Bureau government of India 21-July, 2015 The principle of One Rank One Pension for the Armed Forces has been accepted by the Government. The modalities for implementation were discussed with various stakeholders and are presently under consideration of the Government. It will be implemented once the modalities are approved by the Government. This information was given by Minister of State for Defence Rao Inderjit Singh in a written reply to Shri Neeraj Shekhar and...

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Revised Norms of IT Returns; Electronic Verification of Income Tax Returns For A.Y. 2015-16 Introduced

Revised Norms of IT Returns; Electronic Verification of Income Tax Returns For A.Y. 2015-16 Introduced As per rule 12 of the Income-tax Rules, in case of individuals and certain other specified taxpayer, returns may be filed electronically followed by submission of signed paper copy of ITR-Verification form (ITR-V). However, to provide end-to-end enabled services to the tax payers, a facility has been introduced for electronic verification of the Income-tax Returns for A.Y. 2015-16 in these cases. Under this, a taxpayer may verify his...

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Automatic Refund of Confirmed/ Rac e-tickets on Cancellation of Trains Becomes Effective

Automatic Refund of Confirmed/ Rac e-tickets on Cancellation of Trains Becomes Effective Ministry of Railways Press Information Bureau, Government of India 21-July, 2015 Ministry of Railways have decided to grant automatic refund of Confirmed/RAC e-tickets on cancellation of trains similar to waitlisted e-tickets. There shall not be any requirement for cancellation/filing of TDR for refund of e-tickets in case of cancellation of trains. This has become effective with effect from July 13, 2015. However, in case of cancellation of trains,...

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7th Pay Commission Rumours – Discarding Grade Pay system – Will it be beneficial ?

7th Pay Commission Rumours – Discarding Grade Pay system – Will it be beneficial ? A study on difference in Fitment benefit for 7th Pay Commission Pay Fixation in the case of principles of 5th CPC Pay fixation is adopted in lieu of Fitment Benefit in the form of Grade Pay System evolved by 6th CPC Fitment benefit in the form of Grade Pay provided by 6th CPC was computed based on highest pre-revised pay in each of the pre-revised Pay Scale – Fitment benefit advocated by previous pay commisions were reckoned with Pre-revised basic Pay drawn...

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Maruti Suzuki to get boost from Seventh Pay Commission’s recommendations

Maruti Suzuki to get boost from Seventh Pay Commission’s recommendations MUMBAI: Investors expect Maruti Suzuki to get a boost from the Seventh Pay Commission's recommendations later this year that will lead to salaries of government employees rising. The Pay Commission is expected to submit its report by October and this is likely to be implemented from July 2016, likely adding to an expected double-digit growth in passenger car sales in FY17. Maruti Suzuki is expected to be the main beneficiary, analysts said. The last Pay Commission...

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