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Flash News : Non-Productivity Linked Bonus (Ad-hoc Bonus) to the CG Employees - Finmin Orders

Income Tax provisions in Union Budget 2013-14

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Income Tax provisions in Union Budget 2013-14

FINANCE BILL, 2013
PROVISIONS RELATING TO DIRECT TAXES

Introduction
The provisions of the Finance Bill, 2013 relating to direct taxes seek to amend the Income-tax Act, Wealth-tax Act and Finance (No.2) Act, 2004, inter alia, in order to provide for –
A. Tax rates
B. Additional Resource Mobilisation
C. Measures to Promote Socio-economic Growth
D. Relief and Welfare Measures
E. Widening of Tax Base and Anti Tax Avoidance Measures
F. Rationalisation  Measures

2. The Finance Bill, 2013 seeks to prescribe the rates of income-tax on income liable to tax for the  assessment year 2013-14; the rates at which tax will be deductible at source during the financial year 2013-14 from interest (including interest on securities), winnings from lotteries or crossword puzzles, winnings from horse races, card games and other categories of income liable to deduction or collection of tax at source under the Income-tax Act; rates for computation of “advance tax”, deduction of income-tax from, or payment of tax on ‘Salaries’ and charging of income-tax on current incomes in certain cases for the financial year 2013-14.

Minutes of the 22nd meeting of Standing Committee of Voluntary Agencies (SCOVA)

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Minutes of the 22nd meeting of Standing Committee of Voluntary Agencies (SCOVA) held on 19.2.2013

Minutes of the 22nd meeting of Standing Committee of Voluntary Agencies (SCOVA) held on 19.2.2013 under the Chairmanship of Hon’ble Minister of State (PP) at Vigyan Bhawan Annexe, New Delhi

The list of participants is at Appendix – I.

2. At the outset Secretary (P&PW) welcomed Hon’ble MOS(PP), representatives of Pensioners Associations and the participating officers of various Ministries/Departments. He mentioned that SCOVA has been successful in achieving the objective for which it was started in 1986. Secretary (P&PW) added that the serving officers should be considerate to the pensioners as they will also join the ranks of pensioners after retirement. He praised the contributions made by the Pensioners as officers during their tenure in the Government and also applauded for their present contributions as Senior Citizens. Referring to the issue of revision of PPOs, he mentioned that a lot of work had been done. However, still a lot remained to be done. Efforts were on to make the procedures simple and uncomplicated.

Additional Deduction of Interest upto Rs.1 Lakh on Home Loan for First Home Buyer

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Additional Deduction of Interest upto Rs.1 Lakh on Home Loan for First Home Buyer

The Finance Bill 2013-14 proposes additional tax benefit to the first – home buyer who takes a loan for an amount not exceeding Rs.25 lakh.

Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram proposed that a person taking a loan for his first home from a bank or a housing finance corporation upto Rs.25 lakh during the period 1.4.2013 to 31.3.2014 will be entitled to an additional deduction of interest of Rs.1 lakh.

DOPT Orders 2013 - Dopt issued clarifications as FAQ on Recruitment Rules

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Dopt issued clarifications as FAQ on Recruitment Rules

Department of Personnel and Training issued orders and clarification regarding all service matter from time to time. In that respect, seeking clarifications from various departments and ministries about ‘Recruitment Rules’, Dopt has clarified by the way of ‘Frequently Asked Questions’. This is the better way to know the rules and regulations abut the subject.  [Dopt order No. AB.14017/13/2013-Estt. (RR) (1349) dated on 6.3.2013]

We have reproduced the content of the entire order and given below for your information…

Correlation of Piece Work Profit - INDWF

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Correlation of Piece Work Profit

INDWF General Secretary has intimated through its blog to the employees of Ordnance Factories regarding the subject of Piece Work Calculation. The content of the post has been reproduced as under…

13th STEERING COMMITTEE (11TH TERM) MEETING OF JCM IIILEVEL COUNCIL OF OFB HELD ON 27.02.2013 AT OFB HQRS, KOLKATTA UNDER THE CHAIRMANSHIP OF DDG/IR. MEMBER/PERS ALSO PARTICIPATED FOR SOME TIME TO HEAR THE VIEWS OF THE STAFF SIDE MMEMBERS.

Prior to this meeting, Member/Pers, OFB convened a meeting to discuss the co-relation piece work on revised pay of 6th CPC in continuation of the earlier meeting held on 12.12.12.  In the last meeting three Federations have strongly objected to any reduction in the job rate/Estimates on account of Co-relation in every pay commission.

Benefit under Section 80-D of the Income Tax Act for CGHS Extended to Similar Schemes of the Central Government and State Governments

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Press Information Bureau 
Government of India
Ministry of Finance 

28-February-2013 13:44 IST

Benefit under Section 80-D of the Income Tax Act for CGHS Extended to Similar Schemes of the Central Government and State Governments 

The Finance Bill 2013 proposes extension of benefits under Section 80-D of the Income Tax Act to such schemes of the Central Govt and State Govts that are similar to Central Govt. Health Scheme(CGHS).

Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that contributions made to CGHS are eligible for deduction under Section 80-D of the Income Tax Act and he is proposing to extend the same benefit to similar schemes of the Central Govt and State Govt.

Committee to Look Into pay and Pension Grievance Of Retired Military Personnel

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Press Information Bureau 
Government of India
Ministry of Defence 

06-March-2013 13:25 IST

Committee to Look Into pay and Pension Grievance Of Retired Military Personnel 

A Committee was constituted by the Government in July, 2012 under the Chairmanship of the Cabinet Secretary and consisting of Principal Secretary to the Prime Minister, Defence Secretary, Secretary, Department of Expenditure, Secretary, Department of Ex-servicemen Welfare and Secretary, Department of Personnel & Training for looking into the pay and pension related issues of relevance to Defence Services Personnel and Ex- Servicemen.


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