Nov 15, 2018

Income Tax Returns Not Filed In 80,000 Cases Post-Notes Ban, Says Taxman

The Income Tax Department is “chasing” 80,000 cases where people have not filed their returns post-demonetisation, despite the taxman sending them notices to do so, a senior official said on Wednesday. After inaugurating a stall of the Income Tax Department at the India International Trade Fair at Pragati Maidan here, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said the taxman has also identified nearly 80 lakh people who had filed their returns during the past three years but have not done that so far.
The chief of CBDT, which frames policy for the Income Tax Department, said the November 2016 decision to demonetise high-value currency “really helped in increasing the tax base in the country and as well as the net revenue of this country from direct taxes”.
“If you see, last year contribution of direct taxes was 52 per cent and the contribution of indirect taxes was 48 per cent. This has happened after many years that the contribution of direct taxes is more than the indirect taxes,” he added.
Asked how demonetisation helped, he said: “I would say that the money has now come into bank accounts so it is easy for us to track as to how many persons have deposited the cash without corresponding returns.”
Talking about enforcement by the department after the notes ban declaration by Prime Minister Narendra Modi, the CBDT chief said they have sent emails and SMSes to a large number of people who have filed their returns after this communication.
“Around 3 lakh notices were sent to persons who did not file returns post the demonetisation. These are statutory notices. About 2.25 lakh people filed their returns thereafter. In 80,000 cases, where the returns were not filed, the department is chasing and the assessment will have to be framed,” he said.
Apart from the post-demonetisation exercise, the department is also pursuing those who have not filed their returns on time.
“About 30 lakh persons who should have filed their returns have not filed it. We are sending SMSes and then notices will be sent if these messages are not acknowledged. First we will send SMSes and we are making assessees aware that your income is liable for tax and you should pay it.”
“We have also identified around 80 lakh persons who had filed returns in last three years but they have not filed it so far. I am expecting large no of returns (in the coming days). In the total 6.02 crore returns filed this year, there are 86 lakh new taxpayers,” Mr Chandra said.
“We have used non-intrusive methods and hence 86 lakh new returns have been brought to the tax net so far this year.”
Mr Chandra said the Central Board of Direct Taxes was leaving no stone unturned to ensure that targets of revenue collection set for them are met by the end of the financial year in March next year.
“We are reviewing each and every region where targets are not being met. I have already written to all the regions and they are taking necessary steps,” he said.
“We are following Tax Deducted at Source payments and asking every deductor to ensure that they deduct these taxes on time and deposit with the department…prosecutions (for not depositingTDS) are also being filed. Similarly, we are also chasing advance tax payers and we are intimating them that please deposit your tax,” he said.

Nov 8, 2018

RBE No 156/2018 – Amendment to Appendix V of the Indian Railway Establishment Code Vol. I, 1985 Edition (Study Leave Rules).

RBE No 156/2018 – Amendment to Appendix V of the Indian Railway Establishment Code Vol. I, 1985 Edition (Study Leave Rules).

RBE 158/2018 – Railway Services(Revised Pay) rules, 2008-Section 11 of the Part’ A’ of the First Schedule there to- entry pay for direct recruits appointed on or after 1.1.2006 and pay fixation in the case of persons other than such direct recruits.

RBE 158/2018 – Railway Services(Revised Pay) rules, 2008-Section 11 of the Part’ A’ of the First Schedule there to- entry pay for direct recruits appointed on or after 1.1.2006 and pay fixation in the case of persons other than such direct recruits.

Indian Railways employees take this big decision; passengers may face difficulties

7th Pay Commission: In what could be a bad news for passengers and the government, lakhs of Indian Railways employees have decided to perform their duties according to ‘Work To Rule’ starting December 11. The agitating Indian Railways employees have been asking for allowances as per the recommendations of the 7th pay commission among other demands.
The demands have been put forth by the running staffs of the railways. The running staffs include guard, driver and attendant among others. The staffs have alleged that they are not getting the running allowances as per the recommendations of the 7th pay commission. The All India Railwaymen Federation has decided in its meeting that a 45-day notice will be served to the Railway Ministry for their demands.
If their demands were not met, then the staffs will organise ‘rail roko’ protest.
What is ‘Work To Rule’?
As per reports, the Indian Railways is facing a shortage of around 2 lakh staffs. Due to the shortage of manpower, the employees have to work extra hours in order to support the train operations. If the railway staffs adhere to ‘Work To Rule’ provision, they will not be performing extra hour duties. This might hamper the train operations.
Not only the railway employees, but even the central government staffs have been staging protests asking the government to weed out the anomalies of the 7th CPC and to increase the basic pay. At present, the basic pay is Rs 18,000 as per the fitment factor of 2.57 times while the employees have been asking the government to increase the basic pay to Rs 26,000.

Nov 5, 2018

RAILWAY CIRCULARS & ORDERS: Vigilance Circulars - Railway

RAILWAY CIRCULARS & ORDERS: Vigilance Circulars - Railway:   Vigilance Circulars - Railway  Circular No. Dated Subject 201 8 RBV-09 11.09.2018 Inordinate d...

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Nov 1, 2018

Demands not met! Lakhs of government employees start protest

The issues surrounding salary hikes are increasingly getting volatile and government employees are resorting to extreme measures to highlight their demands. The Uttar Pradesh government has already implemented the 7th Pay Commission recommendations for its employees. However, lakhs of government employees of the state are demanding the rollout of old pension scheme that was abolished in 2005.
The old pension scheme was replaced by a new pension scheme (NPS). After several rounds of failed talks with the government, lakhs of UP government employees have started state-wide protests.
Under the banner of Samyukta Sangharsh Sanchalan Samiti (S4), Uttar Pradesh, the state government employees took out a procession – “Purani pension Bachao-Chetana Rath Yatra” – for the rollback of old pension scheme on 29th October 2018. This will be continued in three-phases till 14 December 2018.
S4 president SP Tiwari told that the government is not listening to the demands of the employees. That is why they are protesting. The rath yatra will go to 15 districts of the state and hold demonstrations at the district headquarters.
On 14th December, the yatra will return to Lucknow. If the government fails to accept their demand, then the employees will again gather for a big public meeting in Lucknow on 20th December. According to RK Varma of S4, as many as 12 employees’ union are connected to the S4.
Earlier, the state government had threatened to cut the salary of any employee participating in protest called between 25-27 October, or remaining absent from work in the name of anything else on these days. The order was issued by the UP chief secretary to senior officials to make the proposed three-day strike a failure.  The chief secretary had said “no work-no pay” policy would remain in effect during the three days of the proposed strike.
Source – Zee News

Oct 29, 2018

: When will new fitment factor be announced


The new fitment factor would take another month or two to be announced. This has been a question on everyone’s mind and the government too had put this decision on hold as the electionprocess has been set in motion. The most likely date for the announcement is January 2019.
How were increments given Increments to CG employees were given on the basis of different fitment factor. A report in Zee Business states that the government gave a certain increment on the basis of different fitment factors for the different levels at the time of implementing the recommendations of the 7th Pay Commission. According to this the highest fitment factor was at level 17, which was 2.81. Officers at this level get a basic pay of Rs 2,25,000.
What is the fitment factor likely to be The fitment factor could be anything in the range of 3 times to 3.68 times. While CG employees would hope for the fitment factor to be at 3.68 times. However the most likely fitment factor that the government would decide on would be 3 times.
Will there be arrears While CG employees would hope that there would be arrears, the most likely possibility is that there would be none. If the new fitment factor more than what the 7th Pay Commission had recommended is announced on January 26, then the same would be made applicable from January 1 2019.
Source – Odisha TV

Oct 24, 2018

Rupee Closes Flat At 73.57 Against Dollar

The rupee bounced back from the day’s low level to settle almost flat at 73.57 against the US currency on Tuesday helped by easing crude oil prices and increased dollar selling by banks and exporters. The rupee opened weak at 73.74 and later fell to the day’s low of 73.82 due to steady capital outflows amid deep losses in stock markets due to growing geopolitical concerns. However, retreating crude oil prices which fell 1.93 per cent to $78.29 per barrel eased concerns and helped arrest a decline in the local currency, a dealer said.
Increased dollar selling by banks on the behalf of the Reserve Bank helped the rupee recover from losses. “Rupee pared losses and closed flat as crude oil prices retreated and dollar selling by state run lenders on behalf of RBI,” V K Sharma, Head PCG & Capital Markets Group, HDFC Securities said.
Bond markets also arrested their decline as softer US yields supported the sentiment. The benchmark 10-year bond yield fell by 4 basis points, the most since October 16, to 7.89 per cent as investors cut down exposure to riskier assets. The rupee settled at 73.57 per dollar, showing a loss of just 1 paise over the previous close. On Monday, the rupee had settled 24 paise lower at 73.56 against the US dollar.
Stock markets fell for the fourth day in a row tracking sluggish trend in global markets on geo-political tensions and fresh worries over trade war.
Foreign investors took out more than Rs. 850 crore from capital markets since Friday amid growing geopolitical tensions.    The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 73.7818 and for rupee/euro at 84.4743. The reference rate for rupee/British pound was fixed at 95.5568 and for rupee/100 Japanese yen was 65.62.

Oct 23, 2018

नए फिटमेंट फैक्टर और न्यूनतम वेतन 21000 का ऐलान 11 दिसंबर के बाद करेगी सरकार

पिछले काफी समय से 7वें वेतन आयोग की सिफारिशों से ज्यादा न्यूनतम वेतन की मांग कर रहे केंद्रीय कर्मचारियों की मांगे जल्दी पूरी होने जा रही है. मीडिया रिपोर्ट्स के अनुसार मोदी सरकार 11 दिसंबर के बाद नए फिटमेंट फैक्टर और संशोधित न्यूनतम वेतन का ऐलान कर सकती है. वित्त मंत्रालय के उच्च स्तरीय सूत्रों के अनुसार सरकार ने कर्मचारियों की मांगों पर अपना होमवर्क पूरा कर लिया है. अब विधानसभा चुनावों के नतीजों के बाद इसकी ऐलान किया जाएगा.

Oct 18, 2018

Why Are Teachers in Kashmir Crying

It is obligatory and mandatory for every em­ployer to pay salaries and remunerations to its employees well in time. Timely salaries of employees motivate them to put in their 100 % energies and efforts to get the desired results. A department, a firm or a company is sure to prosper and progress, if it takes care of the legiti­mate rights of its employees. On the other hand, a department or a company is certain to fail to achieve the set targets, if it ignores and neglects its work force. Many employers come up with incentives and perks for employees to draw the best out of them. Such employers touch the mile­stones and reach the zenith of progress. But, If the workforce is not paid in time how can employers expect them to work with zeal and zest.

Something same is happening in our part of globe. Our school education department is grabbing the headlines for starving its 41,000 teachers working under erstwhile SSA and RMSA. The stalemate between these teachers and the government took ugly turns when these teachers boycotted class work earlier this year and took to roads and streets.

Good news and what the hike in GPF rate means to CG employees

The Union Government increased the rate of interest for the General Provident Fund (GPF) and other related schemes by 0.4 percentage points to 0.8 per cent for the October-December quarter. The GPF rate has now been brought in line with that for the Public Provident Fund (PPF). It may be recalled that even the PPF rate had also been hiked recently by the Union Government. The interest rate on GPF was 7.6 per cent for the July-September quarter of 2018-2019. During the year 2018-19, accumulations at the credit of subscribers to the GPF and other similar funds shall carry interest at the rate of 8 per cent with effect from October 1 2018 to December 31 2018. The interest rate would apply on Provident funds of Central Government employees, defence forces and also those employed with the railways. Last month, the government had announced that the interest on small savings including NSC and PPF will be hiked by up to 0.4 per cent points for the October-December quarter in a bid to align it with rising deposit rates in the banks.