Thursday, 12 December 2013
DoPT Orders - Restriction of officiating pay under FR 35 - Clarification...
No.1/4/2009-Estt. (Pay-I)
Government
of India
Ministry of
Personnel, Public Grievances and Pensions
Department
of Personnel & Training
North Block, New Delhi
Dated the December, 2013
OFFICE
MEMORANDUM
Sub:
Restriction of officiating pay under FR 35-clarification -reg.
The
undersigned is directed lo refer to the O.M. of even number dated 8th March,
2010. It is clarified, that the provisions of this O.M. are applicable from the
1st January, 2006, the date from which the revised Pay Scales became
applicable.
2. In so far
as persons serving in the Indian Audit and Accounts Department are concerned,
these orders issue in consultation with the Comptroller and Auditor General of
India.
3. Hindi
version will follow.
sd/-
(Mukesh Chaturvedi)
Deputy Secretary to the Govt. of
India
Source : www.persmin.gov.in
[http://ccis.nic.in/WriteReadData/CircularPortal/D2/D02est/1_4_2009-Estt.Pay-I-11122013.pdf]
Wednesday, 11 December 2013
New house rent allowance exemption rule: How it will affect you
New house rent allowance
exemption rule: How it will affect you
The Central Board of Direct Taxes has now made it mandatory for
employees
to submit PAN of the landlord to the employer if the annual rent
exceeds Rs.
1,00,000 per annum and such an employee is claiming House rent
exemption
(HRA) under section 10 (13A) of Income Tax Act.
Though CBDT circular, with an aim to tighten its noose around tax
evaders,
has come up with the new rule, many employees are finding it difficult
to
arrange for the new formalities while claiming their HRA exemption. In
conversation with Reema Sharma of ZeeBiz.com Tarun Gupta, Managing
Director,
Mangla Consulting explains the details of how to go about claiming
the HRA
exemption.
HRA exemption of
over Rs 8,333 a month will need the landlord`s PAN card details as per the new
circular issued by Central Board of Direct Taxes (CBDT). What does the new
circular mean?
As per new circular of CBDT vide its Circlular No. 08/2013 F.No.
275/192
/2013-IT(B) dated 10.10.2013 if you are a salaried and claiming HRA
(House
Rent Allowance exemption and the rent paid by you is more than Rs.1 Lakh
per year then it is compulsory to provide PAN (Permanent Account Number) of
your Landlord. Earlier the limit was capped Rs.15,000 per month as against
the
current limit of Rs.8,333 per month.
Can the new CBDT
circular really tighten its grip around tax evaders?
This move has been taken by CBDT to consider those who are living in
their
own houses and claiming benefits of HRA. It’ll also bring those landlords
under income tax net who have multiple tenants but don’t declare his/her
income
correctly.
The new law will be
troublesome for the people whose landlords are reluctant to provide pan card
details. How can these people find an alternative?
In case a landlord doesn’t have a PAN, then a declaration needs to be
filed by
the employee by declaring the name, address & details of landlord.
It should
be duly signed by landlord. In case a landlord’s rental income is
assessed in
Income Tax then he’ll not refuse to provide PAN. But in case he
wants to
evade tax by not giving PAN that cannot be allowed as per Income Tax
Act.
One has following options:a) Provide PANb) Provide Declarationc) Pay Rent
but do not claim exemption d) Find out a new landlord who provides PAN
There might be cases where employees pay their rent in cash and landlord
refuses to provide any rent receipts. In order to avail tax benefits, employees
prepare rent receipts themselves and do forge signatures. Also there might
be cases where employees actually do not pay any rent but still prepares rent
receipts. These all are covered under forgery cases and offences under giving
false evidence and fabricating false evidence of IPC (Section 191 & 192).
As
per judgement by Delhi High Court in such case, an employer can also
dismiss the employee for forging the rent receipts.
Even if an employee
pays rent below Rs. 8,333 per month, he/she has to produce the rent receipts
for availing deduction under HRA. In the absence of such receipts what can be
done?
PAN of landlord is not necessary if assessee is paying rent below
Rs.8,333/-
per month. However, in that case it is always recommended that rent
is paid
either by cheque or bank transfer which will be a record for the
assessee.
Also, in case the Assessing Officer demands proofs, bank entries will
prove to
be a better substitute than rent receipts.
Those people who are
living in a rented accommodation but paying pre-EMI for the soon-to-be
possession of their new home, how can they calculate the exemption?
Those who have booked house and have taken home loans from various
financial institution must be paying monthly EMI (Equated Monthly
Instalments)
to their respective financial institutions. They’ll get the
deduction as per
the normal category which is:a) HRA Receivedb) Rent paid
Less 10% of Salaryc)
40% of salary (50% for Metro Cities)
However, after getting the possession, they can claim the amount paid as
Pre
EMI interest in next 5 years equally starting from the year of possession.
Suppose A has paid
Pre EMI interest Rs.5Lac
Current Year Interest Rs.40,000
Total benefit which can be claimed under section 10B is Rs.1,40,000
instead
of Rs.40,000. But the maximum limit of the section is Rs.1,50,000 which
means if your exemption amount exceeds Rs.1,50,000 you can claim
Rs.1,50,000
only (if the house is not a rent out).
Source: http://zeenews.india.com/
via : http://karnmk.blogspot.in
16 Useful Keyboard Shortcuts for Word 2010
Keyboard shortcuts can
be boon for typists and here are 16 shortcuts for Word 2010 users that you
may not be aware of:
|
CTRL + ALT + H
|
Applies
highlighting to selected text
|
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CTRL + ALT + C
|
Inserts
copyright symbol
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CTRL + ALT + R
|
Inserts
Registered symbol
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CTRL + ALT + T
|
Inserts
Trademark symbol
|
|
CTRL + ALT + F
|
Inserts
footnote
|
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CTRL + SHIFT + A
|
Applies all
caps
|
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CTRL + Shift + K
|
Applies the
SMALL CAPS font attribute
|
|
CTRL + Shift + D
|
Applies
double underlining
|
|
CTRL + Spacebar
|
Removes
character formatting
|
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CTRL + ALT + P
|
Switches to
Print Layout View
|
|
CTRL + ALT + N
|
Switches to
Draft View
|
|
CTRL + ALT + O
|
Switches to
Outline View
|
|
F7
|
Launches
Spell-Checker
|
|
Shift + F7
|
Launches the
Thesaurus
|
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ALT + Shift + F7
|
Launches the
Dictionary/Translator
|
|
Shift + F5
|
Moves your
cursor to the previous edit position
|
Source :
SAPOST
Monday, 9 December 2013
Hon'ble CAT Hyderabad Bench Judgement allowing ASPOs to Sr.Postmaster Examination.
To View Hon'ble CAT Hyderabad Bench Judgement allowing ASPOs to Sr.Postmaster Examination, CLICK HERE
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