Tuesday, 7 June 2011

(A Government of India
(No. 13 of 2010)
Dated, the
Sub: Payment of
Composite Transfer
Grant on revised pay
in respect of all
employees working in
The issue of payment
of Composite Transfer
Grant on revised pay
has been under
consideration in this
office, subsequent to
revision of pay of the
Executive and Non-
executive employees in
IDA pay scales w.e.f.
1.1.2007 and un-
absorbed officers
deputationists)in CDA
pay scales w.e.f.
1 .1 .2006.
2. The approval of
the Board of Directors
of BSNL is, hereby,
conveyed for payment
of Composite Transfer
Grant subject to other
regulatory conditions
applicable in this case in
respect of following
categories of employees
on their revised basic
pay w.e.f dates
mentioned below:-
(a) From
01.09.2008 in respect of
un-absorbed employees
working on deputation/
deemed deputation
basis in BSNL
(b) From
27.02.2009 in respect of
absorbed or directly
executive employees of
(C) From
07.05.2010 in respect of
absorbed or directly
recruited non-
executive employees of
3. The payment of
composite transfer
grant will be admissible
subject to following:-
(i) The Composite
transfer grant may be
equal to one months
revised basic pay in the
case of transfer
involving a change of
station located at a
distance of more than
20 km from each other.
(ii) In cases of
transfer to stations
which are located at a
distance of less than 20
kms from the old
station and of transfers
within the same city,
one third of the above
composite transfer
grant will be admissible,
provided a change of
residence is actually
(iii) Where husband
and wife both are
working in BSNL and
the transfer of both of
them takes place within
six months, but the
transfer of husband/
wife takes place after 60
days of the transfer of
the spouse, fifty percent
of the transfer grant on
transfer shall be
allowed to the spouse
transferred later.
No transfer grant shall
be admissible to the
spouse transferred
later, in case both the
transfers are ordered
within 60 days. The
existing provisions
shall continue to be
applicable in case of
transfers after a period
of six months or more.
Other rules precluding
transfer grant in case of
transfer at own
request or transfer
other than in public
interest, shall continue
to apply unchanged
in their case.
4. While making
payment of above
Allowance to the
Executive employees,
whoare drawing pay in
IDA scales, the
concerned DDO/paying
authority will ensure
that payment of all
allowances and perks.
which are within the
limit of 50% of the basic
pay, should not exceed
the maximum ceiling of
50% of the basic pay of
the concerned executive
in terms of DPE OM
dated 26.11.2008. The
list of allowances, which
are outside the purview
of 50% of the basic pay,
is given in Para 10(i) of
DPE OM dated
5. Error and
Omissions occurred
while calculating the
arrears therein are
subject to rectification
and correction, Over
payments made, if any,
shall be recovered as
per rules
6. Hindi version will
(Harsh Vardhan Singh)
Dy. General Manager
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Posted by 007 news

Saturday, 28 May 2011


Saturday, May 28, 2011

New CGHS clinic in Sec 55

   There is some good news for thousands of beneficiaries of the Central Government Health Scheme (CGHS) staying in New Gurgaon. Haryana has recently given permission to the Central government to run a dispensary in Sector 55. In a series of reports, HT has highlighted the hardships faced by residents due to the existence of only one CGHS dispensary which caters to more than 50,000 patients in the city.

   In a written order to the director general of health services on May 20, the Haryana financial commissioner and principal secretary have allotted the dispensary building for a period of two years.

   They have also suggested constitution of a committee of civil surgeon and estate officer to negotiate terms and conditions with CGHS for handing over the building.

   The building was occupied by a private city hospital but was vacated more than a year ago.

   The move has been welcomed by the Gurgaon District CGHS Beneficiary Association as most of its members stay far from Jacobpura, where the sole dispensary is located, and have to travel quite a distance for medical attention.

   “We will be spared of travelling long distances to visit the dispensary,” said GL Saxena, retired SDE and executive member of the association.

Courtesy; www.hindustantimes.com

Strengthening Implementation of the Right to Information Act, 2005.

Government of India
Ministry of Personnel, Public Grievances & Pensions
Department of Personnel & Training

North Block, New Delhi
Dated; 18th May, 2011


Subject: Strengthening Implementation of the Right to Information Act, 2005.

   Central Chief Information Commissioner has made a reference to the Cabinet Secretary making several suggestions for effective implementation of the Right to Information Act, 2005. It has been decided in consultation with the Cabinet Secretariat that following actions shall be undertaken by all Ministries / Departments/Attached Offices, PSUs of Central Government to Strengthen the implementation of the RTI Act:

     a) In the Annual reports of the Central Ministries / Departments and other attached/subordinate offices PSUs, a separate chapter shall be included regarding implementation of the RTI Act in their respective offices. This chapter should detail the number of RTI applications received and disposed off during the year, including number of cases in which the information was denied. In addition to the above, efforts made to improve the implementation of the Act in their respective offices, including any innovative measures that have been undertaken, should also be listed. This is to be ensured for Annual reports for the year 201 1-12 onwards.

     b) Each Ministry/Department should organize atleast a half day training programme for all CPIOs/Appellate Authorities (AAs) every year to sensitize them about their role in implementation of the RTI Act. The concerned Ministries/Deuartrnents shall ensure that similar programmes are organized for all CPIOs/AAs of all attached/subordinate offices and PSUs under their control as well.

     c) All public authorities who have a web site shall publish the details of monthly receipts and disposal of RTI applications on the websites. This should be implemented within 10 days of the close of the month. Ministries/Departments would ensure that these instructions are communicated to their attached/subordinate offices as well as PSUs immediately. Monthly reporting on the above pattern should begin latest by 10th July, 2011 for the month of June, 2011 and thereafter continue on a regular basis.

   2. All the Ministries/Departments are requested to take action as above and also to ensure that these instructions are communicated to their attached and subordinate offices PSUs for compliance.


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Friday, 27 May 2011


Friday, May 27, 2011

Give gift and save tax.

   Everybody loves a gift. Gifts are always welcome, especially on occasions like marriage, birthday or anniversary. But did you know that you can help your close relatives save tax by giving a gift in the form of movable or immovable property? Gifting is increasingly being considered as an effective instrument to pass on a property to relatives . "A gift is some property that you give to somebody without consideration – that is without money," says Sandeep Nerlekar, CEO & MD, Warmond Executors and Trustees. "It is an off-market transaction." "The instrument of gift is an effective means to transfer property in cases where the donor and donee are relatives," says Shaunak Dalal, partner, MZS & Associates . "The donor is the one who gifts the property, while the recipient is the donee." But, if the parties involved are not relatives, it may not be a good idea to transfer a property as a gift, since they would not be entitled to tax benefits. The procedure for making a gift is not complicated, but it varies for movable and immovable properties.


   To gift an immovable property, all you have to do is to get your gift deed registered and stamped. "The transfer has to be effected through a registered instrument, signed by or on behalf of the donor , and attested by at least two witnesses," says Dalal. A gift in the form of an immovable property needs to be registered . "If the gift is an immovable property, the registration procedure is similar to the registration of a sale deed for an immovable property with the subregistrar ," says Suresh Surana, founder, RSM Astute Consulting Group. Your gift transaction will attract stamp duty. "As per the Bombay Stamp Act, 1958, stamp duty is generally about 5% of the value of the immovable property in Mumbai and some other areas; in some rural areas, it is less than 5%," says Surana. The stamp duty will, however, be lower if the beneficiary is a relative. "In such cases (when the property is gifted to a relative ), the stamp duty is 2% on the market value of the property," says Dalal. This is one of the biggest advantages of using the instrument of gift to transfer property to your relatives, points out Surana.


   Grandmas can legally pass on their antique jewellery as gifts to grand-daughters . This would not attract tax at the hands of the receiver. Also, registration is optional when movable properties like jewellery are transferred as gifts. "In the case of gifts in the form of a movable property, the registration procedure is not necessary as per the Indian Registration Act," says Surana. "Movable properties, like jewellery , when physically transferred , can be backed by a gift deed," says Dalal. "When the property gifted is movable, it must actually be transferred and handed over to the donee; a mere entry in a register or account book is not sufficient ," points out Nerlekar of Warmond. "Stamp duty is applicable even if the transfer of jewellery to relatives through a gift deed is not registered," says Nerlekar. "Stamp duty rates are different in each state," says Rajesh Gupta, partner, SN Gupta & Co. "In Mumbai, if you execute a gift deed, you have to pay 2% of the market value of the jewellery as stamp duty if it is transferred to people who are immediate relatives . For transfer to third parties , the gift deed is to be stamped at 3% of the market value of the jewellery. Usually, after transferring the asset to relatives, people just write the fact about such a transfer in an affidavit."


   The process is a little different for transferring shares. "For transferring shares, the share transfer form needs to be submitted to the company or registrar and the transfer agent of the company," says Dalal. "Also, under Section 18 of the Indian Registration Act, 1908, it is optional to register a gift deed purporting to a share transfer." The stamp duty rules are also different. "While gifting shares/ securities held in a demat format, there shall be no stamp duty applicable . Under the Indian Stamp Act, 1899, the stamp duty payable on shares transferred in the physical form would be . 0.25 for every . 100 (0.25%) of the value of shares being transferred," says Surana.


   "There is no tax implication in the hands of either parties in respect of transfer (by way of gift) of property (other than specifically exempt property) where the donor and donee are relatives," says Dalal. "However, gifts received during a marriage or from parents and grandparents, and gifts received by a daughter-in-law from her parents-in-law or by way of a will or inheritance, are exempt from tax at the hands of the recipient," says Surana. "The income arising from the property shall not be clubbed with the donor in many instances . In such cases, if the recipient of the gift does not have taxable income or has taxable income liable to tax at lower rates, it may reduce the overall tax incidence. This in turn results in widening of the assets, income and wealth base resulting in tax efficiency under the Income Tax Act and the Wealth Tax Act," says Surana. But if you are gifting property to people who are not your relatives, then you will not be entitled to these benefits. "An individual receiving property from an unrelated party through an instrument of gift is liable to pay tax at the applicable rates on the fair market value/stamp duty value of the property, or the cost to the donor, whichever is higher," says Dalal.

Source: Economic Times

Act now to save tax.

   Did you know your investment in the Public Provident Fund (PPF) will fetch you a return of 8% only if you deposit the money before the 6th of every month? In case of cheque payments, ensure your cheque gets cleared by this date. Hold on for a second. Why are we boring you with tax-saving tips in April, after all, you have the luxury of another seven to nine months for tax planning?

   Well, if you want to make every penny count, capitalise on your PPF investment or avoid buying last-minute expensive insurance, start investing now. You have to follow a systematic approach to tax planning if you want to make gains from these investments than merely save on taxes.

   "The best thing for an investor to follow is to invest in tax-saving instruments from April itself. The salaries shrink in the months of January and February. Investing the balance funds for savings taxes will tighten cash flows," says Suresh Sadagopan, a certified financial planner, Ladder 7 Financial Advisories.


   Investors should link their tax saving with their investment objective. "For instance, they should not buy an insurance policy to save tax. But if they need insurance, then they should definitely consider that as it will also save tax," says Pankaj Mathpal, CFP & MD, Optima Money Managers.


   The most attractive feature of PPF is a tax-free return of 8%, which is compounded on an annual basis. For example, if you invest Rs 10,000 every year for 15 years your corpus adds up to Rs 2.93 lakh at maturity. This entire sum is tax-free in the investors' hands as per Section 80C of the Income Tax Act. Apart from a post office, a PPF account can also be opened in State Bank of India ( SBI) and its associates and other select nationalised banks.

   The minimum and the maximum amount are capped at Rs 500 and Rs 70,000 respectively. The rate of interest for an NSC is 8% (compounded half-yearly). If you invest Rs 1,000, the amount grows to Rs 1,601 in six years. You can opt for a judicious mix of NSC and PPF so as to benefit from the interest rate movements in either direction.

   The interest rate is revised at regular intervals on PPF, whereas an individual can lock in his money at a single rate for six years in an NSC. For example, in a falling interest-rate scenario, you may end up pocketing a better rate on PPF than an NSC. However, if the interest rates were to move upward, NSC would be a more rewarding. However, do remember that interest earned from NSC is taxable even though there is no TDS.


   "The net return earned from NSC becomes less attractive for individuals who fall in the high tax bracket. If an individual falls in the 30% tax bracket, he earns only 5.6% return as against 8%. Even as we are inching towards 0% inflation, retail inflation is still at around 9-10%." says Sadagopan.


   While PPF and ELSS are two good choices when it comes to saving tax, the former has poor liquidity and investment in the latter involves higher risk. "Investors should understand the product, and set their goals first and invest in available tax-saving instruments based on their risk appetite," Mathpal adds. If the new DTC (Direct Taxes Code) is implemented, as proposed, then ELSS will no more be eligible for deduction under Section 80C. Those investing through SIP should mention the end date March 2012 in their application form. Do not extend the ELSS beyond March 2012 unless there is some changes in DTC. Also, opt for the growth option in ELSS.


   There is no choice when it comes to buying a house in the city. Rising real estate prices have pushed couples to apply for joint home loans. But even if you are not looking to own a house in the city, you can invest in a house in some other city and gain from tax-saving on joint loans. Just taking a join loan (co-borrower in banker's parlance) won't make you eligible for tax breaks.

   Both of you can avail tax benefits on the home loan only if both of you are the coowners of the property. You have to consider the repayment capacity of each spouse while deciding the share of the loan. So, a couple can be equal owners but if their share of the loan is in the ratio of 60:40 or 70:30, the tax benefits would be shared in that proportion. Ideally, an individual in the higher tax bracket should opt for a higher ratio of the loan to save on more taxes.

   "You have to get a break-up of share of the loan on a stamp paper at the beginning itself," says Vaibhav Sankla, executive direct, Adroit. Co-borrowers should enter into a simple agreement with the spouse on Rs 100 stamp paper. This agreement should basically contain the share of the ownership along with that of the home loan availed of by the couple. You need two copies of the certificate from the housing finance company (HFC) and each of you can submit copies of the certificates along with a copy of the agreement signed between the two of you.

   The maximum tax deduction available for a single borrower is Rs 1.5 lakh. This deduction would apply to each borrower, hence the total possible deduction adds to Rs 3 lakh. Each borrower has to provide a copy of the borrower certificate to claim his or her respective tax relief. However, there are no clear guidelines on this matter. So, it is possible for either of the borrower to miss out on the tax rebate. In such cases, they can claim it as a refund while filing tax returns.

   The idea is not to treat tax savings in isolation. It should be in line with you financial goals. Buy a PPF only if you have some goal to be fulfilled after 15 years. Buy a house only of you want to stay in it or invest in real estate and look at insurance only for protecting your family.

Source: Economic Times