Cash Handling norms for GDSBPM

The case filed by NUGDS Genl.Secy Shri.P.U.Muralidharan regarding un-scientific revision of norms for cash handling issued by Dept.Of.Posts was stayed by CAT Ernakulam Bench (OA : 76/2010)

source-fnpo

All existing EDSOs will be abolished

As per Dte. orders, All existing EDSOs will be downgraded as BOs or up-graded as dept. SOs before 28.2.2010 as there is no much distinction between the functioning of the EDSOs and BOs

Anomaly Commiittee - Items for Discussion

The Department of Post proposes to hold the anomaly committee in the 1st week of February(05-02-2010)

List of Agenda items for Discussion in the Anomaly committee meeting of the
Department of Posts:

1. Placement of TBOP/BCR PA/SA at lower level in comparison to same cadre in
Telecom
2. Denial of Higher Pay scale and also denial of special allowance of PO&RMS
Accountants for fixation of pay on promotion
3. Anomaly of omission of grant of PB2 to Postal Machine Assistants renamed as
Technical Postal Assistants.
4. Head Mailman- disturbance of relativity with Postman/Mail Guard following 5th CPC
5.Charge Hand- Placement of charge hand in PB 2 rather than its merger with Artisan Grade I
6. Artisan Grade I - Common cadre including Railways and Defence - Parity from 1.1.1996
7. Data Entry operators- Lower placement than other Central Government Departments
8. Cash Handling Allowance to PO & RMS Treasurer - allowing allowance at par with cashiers in administrative offices.
9. Sorter in DAP_ relativity disturbance from 5th CPC compared to Postman Cadre
10. Grant of Supervisory allowance to LSG/HSGII/HSGI supervisors- non grant of
graded supervisory allowance
11.Anomaly in connection with revision of pay scale of BCR Group D (now multi skilled Group C) - non grant of PB-1 with grade pay of Rs.1900/-
12. Supervisory Allowance for Head Postman/Overseer Postman
13. TA/DA to Mail Overseer
14. Higher pay scale to PA/SA Supervisory Posts.
15. Anomaly in pay fixation of Stenographers
16.Grant of pay scale to drivers equal with Postal Assistants (reference in accordance with judgment of High court of Madras)

Income Tax Exemption limit may increase next F.Y.

Income Tax Exemption limit for individuals may increase

Government is exploring an increase in the income-tax exemption limit for individuals to compensate for the high recent inflation, but revenue considerations and the fact that the limit was hiked sharply in 2008-09 could force it to maintain status quo or give just a token hike. The proposal has figured in the preliminary discussions , as the policymakers debate ways to give some relief to households from high inflation. Retail inflation, as measured by the consumer price index for industrial workers, was 13.5% in November 2009. A decision is likely over the next three weeks as the budget-making process gathers pace.
“It (the decision) will depend on the revenue considerations that are weighing high on the policymakers as the government is under pressure to signal its return to fiscal consolidation, a government official told ET.
“In general, the trend is to give general relief to taxpayers and a marginal hike is unlikely to have any significant impact on the finances ofthe government especially if it is looking at hiking excise duty and service tax rates,” said D K Joshi, principal economist at rating agency CRISIL.
The government had substantially hiked the exemption limit in the budget 2008-09 and a given a token Rs 10,000 hike in the final budget for 2009-10 , after the United Progressive Alliance came back to power in 2009 elections.
Over the four years to fiscal 2009-10 , the exemption limit has risen at a compounded average growth rate of 12.5%, well ahead of the inflation in this period but less than the current inflation. Food inflation is running at over 18% right now.
“Keeping in view the high inflation, there are expectations from the FM to increase the slabs and provide some more income in the hands of people as economic relief… slab rates require a complete re-look as the basic threshold is very low and basic tax rate get triggered at a very low income level in comparison with global practices,” said Vikas Vasal, partner, KPMG.
The new draft direct taxes code, which is also being given finishing touches with the government looking to introduce it in the budget session, proposes to exempt an individual from paying income tax if his income is upto Rs 1,60,000 a year.
Any income in excess of Rs 1.6 lakh and up to Rs 10 lakh would attract a rate of 10%. Besides, the code also proposes to raise investment limit to Rs 3 lakh from current Rs 1 lakh.
There is also thinking that since the new code proposes to include all perks, including that of government employees in the total income, theexemption limit needs to be raised and this budget may be an opportune time to at least indicate the government intent in that direction, officials said.

Higher rate of TDS for non PAN holders

Higher rate of TDS for non PAN holders

A new provision relating to tax deduction at source (TDS) under the Income Tax Act 1961 will become applicable with effect from 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available. The law will also apply to all non-residents in respect of payments / remittances liable to TDS. As per the new provisions, certificate for deduction at lower rate or no deduction shall not be given by the assessing officer under section 197, or declaration by deductee under section 197A for non-deduction of TDS on payments shall not be valid, unless the application bears PAN of the applicant / deductee.

All deductors are liable to deduct tax at the higher rate in all transactions not having PAN of the deductees on or after 1st April 2010. In order that there is no dispute regarding quoting / non-quoting of PAN or accuracy thereof, the law requires all deductees and dedutors to quote PAN of deductees in all correspondences, bills, vouchers and other documents sent to each other. All deductors are, therefore, advised to intimate their deductees to obtain and furnish their PAN so as to avoid TDS at a higher rate. All deductees, including non-residents havingtransactions in India liable to TDS, are advised to obtain PAN by 31 st March 2010 and communicate the same to their deductors before tax is actually deducted on transactions after that date.

The procedure for obtaining PAN is simple, inexpensive and quick. Application for PAN can be filed in Form 49A to National Securities Depository Ltd. (NSDL) or Unit Trust of India Investor Services Ltd. (UTIISL) or their intermediaries. Non-residents can apply through the local embassy / consulate of India. Applications can also be filed, paid for or tracked online through the Internet.

Incentives for Postal staff for NREGS transactions

DOP has ordered payment of Incentives to Postal staff for NREGS transactions

As per Dte. letter no. 01-14/2009 SB dated 19-01-2010, the Postal Staff dealing with NREGS accounts are entitled to get incentives as under:

Opening of Account:

• BPM Rs.0.35ps per new account
• PA in SO Rs.0.40ps per new account
• Supervisor in SO Rs.0.10ps per new account
• Ledger Asst Rs. 0.30ps per new a/c
• Supervisor Rs.0.10ps per new a/c

Payment in NREGS Account:

• Rs.1.50ps per w/d exceeding 20 w/ds in a day for BPM and 0.20ps for other GDS doing the NREGS work
  
• Rs.1.50ps per w/d exceeding 60 w/ds in a day for Dept.SPMs and 0.20ps for other staff doing the NREGS work.

Ledger Entry in NREGS Account:

• Ledger Asst. 0.10 ps per transaction
• Supervisor 0.05 ps per transaction

Overall ceiling of GDS staff not to exceed basic Pay for the month

I T Department to scrutinise fewer tax returns

I T Department to scrutinise fewer tax returns this year

If you’re worried about what questions your income tax officer will ask about your returns, you can relax a bit. The department has decided to take up fewer tax returns for scrutiny this year. The Central Board of Direct Taxes had issued an internal circular in December 2009, asking commissioners to select fewer cases for scrutiny.

“Now, only 10-20 cases per range can be selected for scrutiny,” said RK Singh, chief commissioner of income tax, Mumbai. He said this notice reduces the number to barely 5% of the original number of cases scrutinised.

An assessing officer can scrutinise tax returns up to September 30, 2010 for income earned between April 2008, and March 31, 2009. Singh hinted that the new instructions would reduce the interface between theincome tax department and taxpayers, thus curbing corruption.

It is learnt that currently more than 1,000 cases are selected for scrutiny in each range headed by a commissioner. “Each I-T officer has 200-300 cases for scrutiny. It overburdens all — the taxpayer, theincome tax department and us,” said a chartered accountant.

But this doesn’t mean you can get away without paying tax. “In the coming years, the cost of tax evasion is going to increase,” Singh said.

“If information is not reported by you then agencies such as banks, insurance companies and the National Securities Depository Ltd (which issues PAN cards) can give us the information,” Singh added.

source-Inet

India Post to spend Rs 100 cr for modernisation

Postal Dept to spend Rs 100 cr to modernise 727 Post Offices

New Delhi, Jan 20 The Department of Post today said it is planning to spend Rs 100 crore to modernise and upgrade 727 post offices across the country by 2011.
"We plan to modernise about 727 post offices across the country under Project Arrow. We have sent a proposal to the Finance Ministry seeking Rs 100 crore for funding the project," Minister of State for Communications and IT Sachin Pilot told reporters here.

Expenditure on computer hardware and other peripherals and new counters, and improving the"look and feel"of the post offices would be made from these funds, he added.

Project Arrow is the flagship project of the Postal Department under which it plans to modernise the post offices across the country.

So far, nearly 1,000 post offices had been modernised entailing an investment of Rs 152 crore.

Talking about the positive impact of the project, Pilot said the post offices under the ambit of the project had seen a 23 per cent jump in its revenue for the third quarter ended December 2009.

source-PTI

Paper Gold at Post Offices

Paper Gold to be launched through India Post

MUMBAI (Commodity Online): After tasting success with its campaign to sell gold coins across India’s post offices, the World Gold Council (WGC) is getting ready to launch a new version of gold traded on paper in India. The new form of paper gold, just like the Gold ETFs, will be launched in the Indian market in the next few months.

Why Barrick Gold has filed suit against New Gold 'Metals, energy prices will be higher in 2010'

According to WGC India Managing Director Ajay Mitra, India offers tremendous potential not just in the sale of physical gold, but all forms of gold transaction methods. While India has six Gold ETFs successfully running and attracting good investments, WGC is talking to a number of players to launch a new version of gold traded on paper.

India is one of largest consumers and importers of the yellow metal in the world. While most Indians prefer buying gold jewellery and gold coins as investment, a large number of investors are now scouting for investment-led gold instruments like ETFs.

“We hope to launch newer paper gold – gold traded on paper in India by June this year in India. The paper gold will be stored by a custodian, whoever is channelising that venture,” Mitra said.

He said India Post, the post services department of the Indian government could be an ideal partner for the distribution of the new Gold ETFs. India Post has partnered WGC in promoting and selling gold coins across hundreds of post offices in the country.

The WGC official said that the apex gold body has decided to launch the new paper gold in India as consumers have been saying that storing physical gold at their homes is becoming very inconvenient.

The paper gold instrument will help investors and customers in getting rid of storing their precious gold. India Post officials said as per the new initiative, a customer can buy paper gold from any of their branches and keep it as safe investment.

Bullion experts believe the new paper gold idea from WGC will drive up gold investment demand in India.

“It is going to be a wonderful idea, if a new form of paper gold can be launched in association with WGC in India. I am sure thousands of people will just buy paper gold from post offices instead of physical gold from jewellery shops as investment. This will push up gold demand in India,” Kiram Mehta, a bullion analyst in Mumbai told Commodity Online.

Mehta said different types of paper gold instruments can be launched in India in tie ups with broking houses, institutions and banks. “This is a really big opportunity that can catch up the investor appetite for gold in India,” he added.

Across the world, paper claims to physical gold have so proliferated during the past two decades.

Trade Unions to oppose Taxation on withdrawal from Savings Funds

Trade Unions to oppose Taxation on on withdrawals from Savings Funds

The central trade unions will press for shelving of a proposal, that wants to tax withdrawals from savings schemes, including provident funds, at the pre-Budget meeting with Finance Minister Pranab Mukherjee on January 14. “(The) Finance Minister has invited trade unions for pre- budget consultations on January 14,” All India Trade Unions Congress Secretary D L Sachdev told media.

Although the central trade unions are meeting here next week to prepare their charter of demands, he said, “we would definitely raise the issue of Exempt, Exempt Tax (EET) mode for savings schemes”.

The draft Direct Taxes Code (DTC), on which the government has invited comments from public, proposed to tax all long-term savings schemes at the time of withdrawal by the subscribers.

Currently, there are no taxes on long-term savings and pension schemes. Besides EET issue, Hind Mazdoor Sabha (HMS) Secretary A D Nagpal said, “We will also demand for higher income tax slabs to provide relief to the working class.”

As part of the budgetary exercise, the minister meets the representative of different interest groups like economists, industrialists, trade unions etc to get their views on the budget. The trade unions, Sachdev said, would also press for the creation of a National Security Fund for urorganised workers in the country.

In view of unionists the funds should have a corpus of a size equal to three per cent of Gross Domestic Product of the country for the welfare of these workers.

The other major issue which could rock the meeting, is imposing service tax on the contributions made to the Employees Provident Fund scheme being run by the country’s largest retirement fund manager Employees’ Provident Fund Organisation (EPFO).

The issue came to light when some months ago, the Central Board of Excise and Customs slapped EPFO with a notice for not paying service tax on the contributions to these scheme. The scheme has around 4.7 crore subscribers across the country.

Courtesy-Inet

Gopalpur SO staff felicitated

Ceremony to Felicitate to the Team of Gopalpur SO

(Gopalpur Sub Post Office & Staff)

“Team Work Works” .

“ Devotion to Duty, Best cooperation of supporting staff, step by step guidance by the Divisional head , personal monitoring by the Postmaster General & blessings of the ALMIGHTY have helped us to bring success to achieve 1st rank among Post Offices in India under Project Arrow scheme”
These are few words expressed by Shri M Kamaraju SPM and staff of Gopalpur SO in a colourful felicitation ceremony organized by the office of PMG, Berhampur on the roof of Behampur Head Post Office building on 13-01-2010. Shri S K Kamila, PMG in his brief speech advised the gathering staff to bring glory to the region as done by the Team of Gopalpur SO.
As a mark of recognition, the staff of Gopalpur SO,SSPOs,BerhampurShri Dibakar Patnaik,Sys.Administrator-Shri S K Mahapatra and IPO,Berhampur (S) Shri Bharat K Patra have the privilege to visit Bangkok for eight days training program at APPC,Bangkok,Thailand from 16th dec-2009 to 23rd December-2009.. A colourful meeting had been organised by the department to felicitate the team.
There was a gathering of 200 staff from different post offices. Representatives from the Service Unions have also felicitated the team for the rare achievement.

Back Ground of PROJECT ARROW

Department of Posts has launched a pilot project ‘Project Arrow’ to lay the foundation for a comprehensive, long‐term transformation of India Post. The project ensures at providing a fast, reliable and efficient postal services to the customers. The ultimate test of success of this scheme is to provide a better experience to the customers, both in terms of the ambience of the post office and quality services to the customers. Gopalpur SO had the rare opportunity to be chosen in the scheme in the 1st Phase.
Project Arrow has brought about a great deal of learning on transforming a post office. The pain and pressures of bringing in change has been felt tremendously. Many strategies were redefined, many initiatives were reworked and retrainings organized.
The Project Arrow experience is a working model for brining an integrated improvement in the post office so that customers can feel the difference. This will lead to more footfalls. It will also provide the platform on which future initiatives can be launched successfully.

Special Cover on Padmasambhava Mahavihar released on 12-01-2010

A Special Cover issued by the Department of Posts,India on Padmasambhava Mahavihar was released on 12-01-2010 by His Holiness Dalailama.Shri S K Kamila,PMG,Brahmapur was present in the occasion.

postal info zone-2010 booklet released

The most popular among postal staff ,

handy Postal info zone -2010 booklet released on 01-01-2010