Union Budget 2016-17: I-T slabs remain unchanged

Union Budget 2016-17: I-T slabs remain unchanged HRA deduction increased to Rs. 60,000 per annum; 40% of withdrawal under NPS to be tax exempt; additional exemption for housing loans. Finance Minister Arun Jaitley presents his third Union Budget. With an eye on supporting the small tax-payer and the small investor, the Minister announced a slew of schemes, and income tax exemptions. As it happened: 12.41 p.m.: Finance Minister Arun Jaitley...

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Reducing black money through a Scheme to declare undisclosed income by paying 45% tax in a given compliance window.

Reducing black money through a Scheme to declare undisclosed income by paying 45% tax in a given compliance window. While presenting the General Budget 2016-17 in Lok Sabha here today, the Union Finance Minister Shri Arun Jaitley proposed a Scheme to declare undisclosed income by paying 45% tax in a given compliance window. Shri Jaitley proposed a limited period Compliance window for domestic taxpayers to declare undisclosed income or income represented in the form of any asset and clear up their past tax transgressions. This will include...

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Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000

Limit of Deduction of Rent Increased from Rs.24,000 to Rs.60,000 100% Deduction of Profits for 3 out of 5 Years for Start-Ups Withdrawal upto 40% of the Corpus to be Tax-Free at the time of Retirement Deduction of Additional Interest of Rs.50,000 Per Annum for First-Time Home buyers New Dispute Resolution Scheme to be Introduced Thirteen Cesses Levied by Various Ministries having Revenue Collection less than Rs.50 Crore to be Abolished ‘E-Sahyog’ and ‘E-Assessment’ to be Expanded Further 100% Deductions for Profits to an undertaking...

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Measures for moving towards a pensioned society

Measures for moving towards a pensioned society While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that pension schemes offer financial protection to senior citizens. He proposed to make withdrawal up to 40% of the corpus at the time of retirement tax exempt in the case of National Pension Scheme(NPS). In case of superannuation funds and recognized provident funds, including EPF, the same norm of 40% of corpus to be tax free will apply in respect of corpus created out of contributions...

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Seeking information about the actual data of perks/allowances given to the CVOs for the financial year 2013-14 & 2014-15

F.No.325/10/2015-AVD-III Government of India Ministry of Personnel, Public Grievances & Pensions Department of Personnel & Training ***** North Block, New Delhi Dated the 26th February, 2016 OFFICE MEMORANDAM Subject: Seeking information about the actual data of perks/allowances given to the CVOs for the financial year 2013-14 & 2014-15. The undersigned is directed to refer to this Department’s O.M. of even number dated 1 st July, 2015 wherein a committee was constituted to decide reassessment of CVO positions...

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Highlights of General Budget 2016: Indian Government News

Highlights of General Budget 2016: Indian Government News Union Finance Minister Shri Arun Jaitley spoke on the Key Reform Measures in his Budget speech 2016-17 1. The Government is firm on its course towards fiscal consolidation without compromising on its development agenda. 3.5% fiscal deficit is targeted for FY 2017. 2. Total allocation for Agriculture, Farmers’ welfare and Irrigation set at Rs. 47,912 cr, which is nearly twice...

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EXPECTED DA FROM JULY 2016 BEGINS..! AICPIN FOR JANUARY 2016

EXPECTED DA FROM JULY 2016 BEGINS..! AICPIN FOR JANUARY 2016 All India Consumer Price Index for Industrial Workers on Base 2001=100 The Labour Bureau, under the Ministry of Labour and Employment has now released the AICPIN points for the month of January 2016, the index stands at 269. The first index point for the year 2016 has been released by the Central Government and the 7th Pay Commission DA Calculation also starts with this first index. The...

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7th Pay Commission issue in Parliament – Strike by Railway Employees

7th Pay Commission issue in Parliament – Strike by Railway Employees 7th Pay Commission Latest News – Minister’s reply on Strike by Railway Employees demanding 35 per cent hike on implementation of 7th CPC recommendations Mr Kotha Prabhakar Reddy, Railway Minister for State has replied to a query regarding proposed Railway Employees Strike for increasing the hike in salary recommended by 7th Pay Commission. GOVERNMENT OF INDIA MINISTRY OF RAILWAYS LOK SABHA UNSTARRED QUESTION NO: 57 ANSWERED ON: 24.02.2016 Strike by Railway Employees KOTHA...

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7th CPC DA Calculation: What are the 7th CPC’s Recommendations Regarding Dearness Allowance?

7th CPC DA Calculation: What are the 7th CPC’s Recommendations Regarding Dearness Allowance? Dearness Allowance is one of the important issues that the Pay Commission deals with. The calculation method that was recommended by the 6th Pay Commission was radically different from the ones suggested by all the previous Pay Commissions. Dearness Allowance, which was increasing by 1 or 2% until the 5th Pay Commission suddenly shot up to double-digit numbers. Until the 5th CPC, the All India Consumer Price Index Number for Industrial Workers...

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7th Pay Commission DA Calculation – Jan 2016 AICPIN starts with new episode of Expected DA July 2016

7th Pay Commission DA Calculation – Jan 2016 AICPIN starts with new episode of ‘Expected DA July 2016’ “The first AICPIN points of 2016 will be released tomorrow” The Dearness Allowance given to Central Government employees and Pensioners will henceforth be calculated on the basis of the 7th Pay Commission recommendations from 1.1.2016.(Expects its recommendations to be implemented by the Government) The first All India Consumer Price...

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7th CPC Latest News : BPMS Protest for Minimum Pay 24000 and Fitment formula 3.42

7th CPC Latest News : BPMS Protest for Minimum Pay 24000 and Fitment formula 3.42 BPMS circular for agitation programme from 01.03.2016 to 05.03.2016 BHARATIYA PRATIRAKSHA MAZDOOR SANGH (AN ALL INDIA FEDERATION OF DEFENCE WORKERS) (AN INDUSTRIAL UNIT OF B.M.S.) (RECOGNISED BY MINISTRY OF DEFENCE, GOVT. OF INDIA) CENTRAL OFFICE: 2-A, NAVEEN MARKET, KANPUR – 208001, PH & FAX : (0512) 2332222 MOBILE: 09415733686, 09235729390, 09335621629, WEB : www.bpms.org.in REF: BPMS/20/CIR/2015 Dated: 19.02.2016 To, The President/ General Secretary Unions...

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MACPS on Promotional Hierarchy – NFIR

MACPS on Promotional Hierarchy – NFIR Grant of Financial up-gradation under MACPS in the promotional hierarchy – (instead of Grade Pay hierarchy) – Item No.3 of Record note of discussion held between the Federation and EDs, Railway Board on 12/10/2015 on MACPS anomalies. NFIR National Federation Of Indian Railwaymen 3, CHELMSFORD ROAD, NEW DELHI – 110 055 No.IV/MACPS/09/Part 9 Dated: 26-02-2016 The secretary (E) Railway Board New Delhi Dear...

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7th Pay Commission is unlikely to destabilise prices: Survey

7th Pay Commission is unlikely to destabilise prices: Survey The hike in wages under the 7th Pay Commission is unlikely to destabilise prices and will have little impact on inflation, the Economic Survey said today. “For most of the current fiscal year, inflation has remained quiescent, hovering within the RBI’s target range of 4-6 per cent. But looming on the horizon is the increase in wages and benefits recommended for government workers by the Seventh Pay Commission (7th PC). “If the government accepts this recommendation, would it destabilise...

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Health Ministry Announced 'Birth Companions’ Presence During Child Delivery

Health Ministry Announced 'Birth Companions’ Presence During Child Delivery The Union Health Ministry has allowed ‘birth companions’ during delivery in public health facilities, a unique step to reduce maternal mortality rate (MMR) and infant mortality rate (IMR) in the country. The World Health Organization (WHO), which promotes labour companionship, says it is a core element of care for improving maternal and infant health. India needs to follow the World Health Organisation, accordingly, Union Health Ministry says, husbands can now be by...

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OROP Anomalies – One member Judicial Committee will submit its report in six months

OROP Anomalies – One member Judicial Committee will submit its report in six months One member Judicial Committee has been appointed on 14.12.2015 to look into the anomalies arising out of implementation of OROP. The Judicial Committee will submit its report in six months – Defence Minister Detailed instructions along with OROP tables on implementation of OROP have been issued on 3.2.2016. Considering the requirement for implementation of “One Rank One Pension”, the expenditure ceiling for Defence Pensions in BE 2016-2017 has been increased...

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Performance of Central Public Sector Enterprises (CPSES) during 2014-15.

Performance of Central Public Sector Enterprises (CPSES) during 2014-15. Ministry of Heavy Industries & Public Enterprises Press Information Bureau, Government of India 26-February, 2016 The Public Enterprises Survey (2014-15), brought out by the Department of Public Enterprises, Ministry of Heavy Industries & Public Enterprises, Government of India on the performance of Central Public Sector Enterprises was placed in both the Houses of Parliament today. There were 298 CPSEs in 2014-15, out of which 235 were in operation. Rest...

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Incomplete Data in Web Based Cadre Management System for CSS Officers of Under Secretary

No.21/1/2016-CS.I(U) Government of India Ministry of Personnel, Public Grievances & Pension Department of Personnel & Training 2nd Floor, Lok Nayak Bhavan Khan Market, New Delhi. Dated 26th February, 2016. OFFICE MEMORANDUM Subject: Incomplete Data in Web Based Cadre Management System for CSS Officers of Under Secretary The undersigned is directed to refer to this Department’s O.M. No.21.1.2014-CS.I (PR/CMS) dated 31st December, 2015 (copy enclosed) requesting the nodal officers in the Ministries/ Department for...

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Preliminary Staff Side meeting of the Standing Committee members will be held on 1.3.2016

Preliminary Staff Side meeting of the Standing Committee members will be held on 1.3.2016 NATIONAL JOINT COUNCIL OF ACTION NOTICE FOR MEETING OF THE JCM (NC) STAFF SIDE STANDING COMMITTEE MEMBERS The meeting of Empowered Committee of Secretaries (E-CoS) under the Chairmanship of Cabinet Secretary with Standing Committee members of JCM (NC) staff side is scheduled to be held on 1st March 2016 at 06:45 PM in the Committee Room, Cabinet Secretariat, Rashtrapati Bhawan, New Delhi vide Under Secretary (IC) letter F. No. 1-2/2016-IC dated...

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Casual Labourers with temporary status-clarification regarding contribution to GPF and Pension under the old pension scheme

Casual Labourers with temporary status-clarification regarding contribution to GPF and Pension under the old pension scheme No.49014/2/2014-Estt (C) Government of India Ministry of Personnel, Public Grievances and PG Department of Personnel and Training Establishment Division New Delhi, North Block, February 26th , 2016 OFFICE MEMORANDUM Subject: Casual Labourers with temporary status-clarification regarding contribution to GPF and Pension under the old pension scheme Undersigned is directed to refer to this Department’s OM No. 51016/2/90-Estt...

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Travel Insurance For Rail Passengers Soon

Travel Insurance For Rail Passengers SoonIn order to minimise financial loss to passengers from untoward incidents, Railways will launch a travel insurance scheme.“Currently there are railways claims tribunals which provide compensation in case of mishaps. One can claim compensation in case of accidents. Now we are offering additional service of insurance,” Railway Board Chairman A K Mittal said.However, he said the insurance scheme is optional and passengers will be given the option at the time of booking tickets.P...

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Meeting of Empowered Committee with NC JCM on 1.3.2016

An another important meeting of Empowered Committee with NC JCM will be held on 1.3.2016. Official letter published by Confederation and the same given below for your information… Meeting of Empowered Committee of Secretaries (E-CoS) with Office bearers of Staff Side of Standing Committee of National Council (JCM) on recommendations of the 7th Central Pay – Postponement F.No.1-2/2016-IC Government of India Ministry Of Finance Department...

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Highly disappointing Rail Budget - NFIR

Railway Minster did not make any announcement for making payment of PL Bonus at revised rate of 7000  NFIRNational Federation of Indian Railwaymen3, CHELMSFORD ROAD, NEW DELHI – 110 055 Press Statement Highly disappointing Rail Budget   The National Federation of Indian Railwaymen (NFIR) expresses its serious disappointment over the Rail Budget (2016-17) presented by Shri Suresh Prabhu, Railway Minister in the Parliament on 25th February 2016. According to the President and General Secretary NFIR Shri Guman Singh...

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Government servant getting retirement benefit from deputation office

Government servant getting retirement benefit from deputation office Appointment to a post on deputation basis is made for a period normally specified in the Recruitment Rules of the deputation post, unless the period of deputation is extended by the Government in terms of prevailing instructions. After expiry of such deputation period, the Government servant is required to revert back to the parent organization/ office. The Guidelines regulating premature repatriation from Central Deputation also provide for repatriation to parent cadre...

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RAILWAY BUDGET 2016-2017 : Ministry of Railways: Indian Railway

RAILWAY BUDGET 2016-2017 : Ministry of Railways No Hike in Passenger Fare 65,000 Additional Berths and 17,000 Bio Toilets to be Installed Operations Audit to Improve Punctuality of trains Proposed Wi Fi Facilities in 400 more Stations Stations to be Developed Under PPP Mode Award of Civil Contracts for Dedicated Freight Corridor to be Over by the end of this Financial Year Capacity of E-Ticketing System to be Enhanced Increased Quota of...

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Central Government Employees Demand Minimum Salary of Rs 26,000

Central Government Employees Demand Minimum Salary of Rs 26,000 Government employees have demanded a minimum salary of Rs 26,000 as against Rs 18,000 recommended by the 7th Central Pay Commission while threatening to go on strike if demands not met. “Minimum Pay needs to be revised to Rs 26,000 per month and the minimum pay of Rs 18,000 as recommended by 7th CPC is not acceptable,” said Minutes of the meeting of Joint Secretary (IC) with the members of the Staff-side of the Standing Committee (National Council-JCM). Secretary, Staff-side, Standing...

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Highlights of the Railway Budget 2016-17 – An Official Report

Highlights of the Railway Budget 2016-17 – An Official Report Highlights of the Railway Budget 2016-17 Theme of the Budget : Overcoming challenges – Reorganize, Restructure Rejuvenate Indian Railways: ‘Chalo, Milkar Kuch Naya Karen’ Three pillars of the strategy i.e. Nav Arjan – New revenues, Nav Manak – New norms, Nav Sanrachna – New Structures. Financial Performance : 2015-16- Savings of Rs. 8,720 crore neutralizing most of the revenue shortfall, expected OR 90%; 2016-17- Targeted Operating Ratio (OR) – 92%, restrict growth of...

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