Archive for the GENERAL REPORTS/TOPICS Category

DOWNLOAD FORM 16 FROM TRCES WEBSITE.ALSO SEE THE E-TUTORIL LINK TO KNOW HOW TO DOWNLOAD FORM 16 FROM THAT WEBSITE.

May 29, 2013 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

SECTION 203 OF THE INCOME-TAX ACT, 1961, READ WITH RULE 31 OF THE INCOME-TAX RULES, 1962 – DEDUCTION AT SOURCE – CERTIFICATE FOR TAX DEDUCTED – ISSUANCE OF CERTIFICATE FOR TAX DEDUCTED AT SOURCE IN FORM NO.16 CIRCULAR NO. 4/2013 [F.NO.275/34/2011-IT(B)], DATED 17-4-2013 1. Section [...]
ALL ABOUT ELECTIONS IN DETAIL

ALL ABOUT ELECTIONS IN DETAIL

May 15, 2013 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

KEEPING IN MIND ELECTION,PLEASE READ ALL THESE INSTRUCTURE FOR HASSLE FREE ELECTIONS.     by [...]

SOME FACTS ABOUT INCOME TAX RETURN FILING.

March 30, 2013 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

1. The date is for return of this year ending 2013 – No, infact only those assessee have to file return who have nil tax, or ready to pay tax with 1% interest ,for the year ending 2012(March), but for fresh return filing date is July, 2013. 2. PAN holders must file their return – ... [...]

Last 25 years Income Tax Rates for Individuals, HUF, AOP’s, BOI’s (AY 1992-93 to AY 2014-15)

March 29, 2013 | GENERAL REPORTS/TOPICS, SERVICES | 2 Comments

Income Tax Rates for Assessment Year 1992-93   Income Slab (Rs.) Tax Rate 0 – 22,000 0% 22,001 – 30,000 20% 30,001 – 50,000 30% 50,001 – 1,00,000 40% 1,00,001 and above 50%   Surcharge: 12% Surcharge if taxable income exceeds Rs. 75,000   Income Tax Rates for Assessment Y [...]

TAX IMPLICATIONS ON SALARY COMPONENTS

February 14, 2013 | GENERAL REPORTS/TOPICS | No Comments

SALARY OF AN EMPLOYEE IS HAVING MAINLY 2 COMPONENTS VIZ. BASIC PAY & ALLOWANCES.HOW THE INCOME TAX IS APPLIED ON THESE IS BEING DISCUSSED IN THIS ARTICLE TAX IMPLECATIONS ON SALARY COMPONENTS by [...]

Fourth CPC pay scale and Fifth Pay commission

February 13, 2013 | GENERAL REPORTS/TOPICS | No Comments

It will be very use full to know all the pay commissions recommendations before getting into VII pay commission FOURTH PAY COMMISSION The Fourth Pay Commission was constituted in June 1983 and its Chairman was Shri. P N Singhal. But the report of 4th CPC was submitted to government in three phases w [...]

First CPC to Third CPC Pay Scales

February 13, 2013 | GENERAL REPORTS/TOPICS | No Comments

Now all the central government employees federations are demanding the govt. to set up seventh pay commission soon. So far six pay Commissions have been set up till date from 1946 by Government of India to review and recommend wage structure for all the central government employees including postal, [...]

7th Pay Commission Projected Pay Structure-a mathematical calculation

February 13, 2013 | GENERAL REPORTS/TOPICS | 2 Comments

People may think that the babus again started to make voice over pay revision and next pay commission or 7th Pay commission. There is a saying that “The crying baby gets the milk”. The need makes the man to act. One should try to understand the fact that being a government servant one can witnes [...]

HELP FILE FOR ONLINE BILL CREATION THROUGH IFMS MODULE

February 8, 2013 | GENERAL REPORTS/TOPICS, ONLINE PROJECTS PUNJAB, SERVICES | No Comments

PUNJAB GOVT. EMPLOYEES ARE IN A STRESS THESE DAYS DUE TO LESSER KNOWLEDGE OF ONLINE BILL CREATION.THE BELOW LINK WILL PROVIDE YOU GUIDANCE ABOUT ONLINE BILL CREATION HELP LINK FOR ONLINE BILL CREATION by [...]

SOME FACTS ABOUT NEW PENSION SCHEME (NPS)

February 8, 2013 | GENERAL REPORTS/TOPICS, SERVICES | 1 Comment

1. What is the New Pension System (NPS)? The NPS is a new contributory pension scheme introduced by the Central Government for employees joined in Government Service on or after 1.1.2004. During the year 2009, the NPS was kept open for public. 2. Who is covered by the NPS? a. Employees who have join [...]

LIST OF HOLIDAYS 2013 AT PUNJAB UNIVERSITY CHANDIGARH

December 29, 2012 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

CHANDIGARH:  The Panjab University will observe the following holidays for the Calendar Year 2013 in its Administrative Offices, Teaching/Non-Teaching Departments and Colleges affiliated to the Panjab University: All Saturdays (except in Colleges)*, All Sundays Other Holidays 1. Birthday of Sri Gur [...]

epunjabschools data entry module at a glance

August 12, 2012 | GENERAL REPORTS/TOPICS, ONLINE PROJECTS PUNJAB, SERVICES | No Comments

download & study it before entering data e-PunjabSchool module by [...]

ONLINE LEAVE ENCASHMENT PROJECT FOR PUNJAB EMPLOYEES

August 10, 2012 | GENERAL REPORTS/TOPICS, ONLINE PROJECTS PUNJAB, SERVICES | No Comments

DOWNLOAD & STUDY IT AS IT IS FUTURE PUNJAB SERVICES ONLINE LEAVE ENCASHMENT PROJECT by [...]

ONLINE GPF WITHDRAWL THROUGH IWDMS PUNJAB PROJECT

August 8, 2012 | GENERAL REPORTS/TOPICS, ONLINE PROJECTS PUNJAB, SERVICES | No Comments

TODAY WE R UPLOADING 2ND FILE APPLICATION OF IWDMS PROJECT.WE R HOPEFUL THAT AFTER IMPLEMENTATION OF THIS PROJECT,IT WILL WORK AS BANKING SYSTEM.DOWNLOAD IT TO STUDY. ONLINE GPF WITHDRAWL PROJECT by [...]

ONLINE LEAVE APPLICATION THROUGH IWDMS PROJECT PUNJAB

August 7, 2012 | GENERAL REPORTS/TOPICS, ONLINE PROJECTS PUNJAB, SERVICES | No Comments

AS ALL OF US HAD MIGHT READ NEWS ABOUT MAKING DEPTTS. PAPERLESS IN COMING TWO YEAR WHICH IS A DREAM PROJECT OF PUNJAB GOVT. TO MAKE SERVICES USER  FRIENDLY.1ST SERVICE TO BE ENFORCED THROUGH THIS PROJECT FOR EMPLOYEES IS ONLINE LEAVE APPLICATION.THERE ARE TILL DATE ABOUT 36 TYPES OF APPLICATION FOR [...]

HOW TO REVISE INCOME TAX RETURN E FILED EARLIER

July 31, 2012 | GENERAL REPORTS/TOPICS | Comments Off

There is common question is How to revise the return where original return was e filed by the asessee . person want to know the process .We have summersied FAQ about the revision of return off income tax return. Revision of e filed return is as simple as as filing of original return.In fact the [...]

File Your I-T returns in spite of relief from return filing up to 5 lakh to get more benefits

July 21, 2012 | GENERAL REPORTS/TOPICS | No Comments

With just few days left to file income tax returns, taxpayers falling in the Rs 5-lakh bracket and earning less than the Rs 10,000 limit, have the option of not filing their returns. However, there are a number of reasons why you should file.If you covered under exemption for return filing as you [...]

e-Filing Process OF INCOME TAX RETURN– At a glance

June 22, 2012 | GENERAL REPORTS/TOPICS | No Comments

FOR THE INDIVIDUALS HAVING INCOME ABOVE 10 LAKH,E FILING OF RETURN HAS BEEN MADE MENDATORY.HERE R THE STEPS FOR THIS. Select appropriate type of Return Form 2Download Return Preparation Software for selected Return Form. 3Fill your return offline and generate a XML file. 4Register and create a us [...]

General Tips for Online Bill Submission through IFMS Website.

June 22, 2012 | GENERAL REPORTS/TOPICS | No Comments

Respected Friends, As you all know, Govt.has made it compulsory that all types of Treasury bills must be submitted online through the IFMS website.I am hereby sharing few tips for smooth & fast submission of bills through IFMS website. Always use latest version of Internet Explorer (which ever i [...]

INVESTOR GUIDANCE by A.N. Shanbhag

May 6, 2012 | GENERAL REPORTS/TOPICS | No Comments

Tax implications of mutual fund dividends Q: I’ve invested in a Fixed Maturity Plan of a mutual fund. According to the MF, if one invests for 90 days under the dividend option the dividend will be totally taxfree. Does this mean it’ll be like taxfree bonds and no tax will have to be paid [...]

Landlord Pan mandatory for HRA exemption above Rs 15000/-

May 4, 2012 | GENERAL REPORTS/TOPICS | No Comments

According to the notification issued by the Income tax department, now landlord PAN card is must to get tax exemption against HRA allowance. One will have to submit PAN card as a proof if he is applying for more than 15,000 Rs. as monthly rent which means from now on, he needs to submit orig [...]

TIPS ON BUYING HEALTH INSURANCE

April 9, 2012 | GENERAL REPORTS/TOPICS | No Comments

It has been rightly said that ‘Health is Wealth’. But truly speaking how many of us are really serious about it? Today, when everything is uncertain, nobody can be sure what will happen tomorrow. We all are aware that medical bills are as it is quite high and are set to get higher. Still [...]

TAX ADVICE

April 9, 2012 | GENERAL REPORTS/TOPICS | No Comments

Income tax deductions on medical expenses By S.C. Vasudeva Q I’m a central government employee. My father, who retired as a stenographer at a civil court and gets a monthly pension of about Rs 16,000, underwent coronary bypass surgery in June 2011 for which an expenditure of Rs 2.25 lakh was i [...]

INVESTOR GUIDANCE

April 8, 2012 | GENERAL REPORTS/TOPICS | No Comments

Withdrawal of PF account funds by A.N. Shanbhag Q: I worked at a bank (Bank A) from March 2005 to July 2008, following which I joined another bank (Bank B) where I was employed till April 2010. I also got my Provident Fund account at Bank A transferred to that of Bank B. Can I now ... [...]

GUIDELINES FOR WITHDRAWL OF GPF DATED 11.11.2010

April 6, 2012 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

THERE ARE PRESCRIBED GUIDELINES FOR WITHDRAWING GPF GPF WITHDRAWL RULES by [...]

GUIDELINES FOR GETTING RESIDENCY & OTHER CERTIFICATES FOR GOVT. EMPLOYEES

April 3, 2012 | GENERAL REPORTS/TOPICS | No Comments

DOWNLOAD by [...]

tax advice

April 2, 2012 | GENERAL REPORTS/TOPICS | No Comments

No tax on agricultural income by S.C. Vasudeva Q. I am a government employee. My annual income from salary is about Rs 12 lakh. I have an agriculture income of Rs 5 lakh. The agriculture land is in my name. Should I add agriculture income to my salary income for tax calculation? Will it increase ... [...]

E FILING ITR MUST INCOME EXCEEDING 10 LAKH FOR INDIVIDUALS HUF AY 12-13

April 2, 2012 | GENERAL REPORTS/TOPICS | No Comments

AS 31ST MARCH PASSES,THERE COMES ANOTHER WORK TO BE DONE BY MEAN FILING OF INCOME TAX RETURN.THERE ARE CHANGES IN INCOME TAX RULES WHICH ARE APPLICABLE FOR ALL THE PERSONS WITH INCOME OF MORE THAN 10 LAKH.THE DETAIL IS GIVEN BELOW E filing of Income Tax return is Must for Individuals and HUF,Wher [...]

Budget 2012-13 impact on Life Insurance

March 28, 2012 | GENERAL REPORTS/TOPICS | No Comments

Life insurance policies which for long have been bought as a savings & investment instrument and a tax-saving tool may now be back to its original avatar. The amendments in Budget 2012-13 send out a single message – avail life insurance policies for pure risk cover. The budget proposal has bro [...]

Life insurance: Changes in budget by A.N. Shanbhag

March 25, 2012 | GENERAL REPORTS/TOPICS | 2 Comments

Q: What are the amendments proposed in the FY2012-13 budget in regard to the life insurance sector and how will they affect investors? — Atul Joshi A: Currently any sum received under a life insurance policy is exempt from income tax provided the premium payable for any of the years does not excee [...]

What is Union Budget?

March 10, 2012 | GENERAL REPORTS/TOPICS | No Comments

Zeebiz Bureau The dictionary meaning of budget is a systematic plan for the expenditure of a usually fixed resource during a given period. Thus, Union Budget, which is a yearly affair, is a comprehensive display of the Government’s finances. It is the most significant economic and financial event [...]

80C reversed on early withdrawal From PF Life insurance and other schemes

March 5, 2012 | GENERAL REPORTS/TOPICS | No Comments

When investing to save on tax,avoid situations under which you may end up losing the benefits.March is always a hectic month for working professionals.If not meeting their financial year-end deadlines,they are seen scrambling to prevent a few extra bucks from making their way into the taxmans collec [...]

Managing your PF maturity amount

March 5, 2012 | GENERAL REPORTS/TOPICS | No Comments

One has to be extremely careful in investing Provident Fund proceeds after his or her employment contract has been completed and is now retired, says Anil Chopra. In such a case, the funds should be invested in safe schemes. This is even more essential if the job from which you have just retired doe [...]

PENSION CASE GUIDELINES-by SH. PARDEEP

February 27, 2012 | GENERAL REPORTS/TOPICS, SERVICES | 1 Comment

PREPARATION OF PENSION CASE IS A VERY CUMBERSOME PROCESS.      In order to overcome this problem, a need was felt by this office to prepare some guidelines for the Drawing and Disbursing Officers/Pension Sanctioning Authorities regarding preparation and submission of pension cases. Accordingly, M [...]

कम बजट में बेस्ट टॉप-10 लैपटॉप! (leptop in low budget upto rs. 25000/-)

February 25, 2012 | GENERAL REPORTS/TOPICS | 1 Comment

कम बजट में बेस्ट टॉप-10 लैपटॉप! आपकी जरूरत और आपकी जेब का ख्याल रखते हुए पेश हैं, उन्नत तकनीक के सॉफ्टवेयर और हार्डवेय [...]

AMMENDMENT FOR ALLOWING EXEMPTION FROM FILING IT RETURN UPTO 5 LAKH SALARY

February 24, 2012 | GENERAL REPORTS/TOPICS | No Comments

SECTION 139 OF THE INCOME-TAX ACT, 1961 – RETURN OF INCOME – EXEMPTION TO SPECIFIED PERSONS FROM REQUIREMENT OF FURNISHING A RETURN OF INCOME UNDER SECTION 139(1) FOR ASSESSMENT YEAR 2012-13  In exercise of the powers conferred by sub-section (IC) of section 139 of the Income-tax Act, 1 [...]

TAX BENEFIT ON HRA AND HOME LOAN -AVAILABLE OR NOT?

February 23, 2012 | GENERAL REPORTS/TOPICS | No Comments

HRA – allowance is one of the components of salary package, which is normally offered to employees by their employers to meet the higher cost of renting a home. Tax exemption under Income Tax Act for HRA is allowed to salaried persons who are occupying a rented accommodation. It is being regulat [...]

I-T returns not required for salary upto Rs 5L/year

February 21, 2012 | GENERAL REPORTS/TOPICS | No Comments

New Delhi: Salaried employees earning up to Rs 5 lakh a year will not be required to file income tax returns from this year, says a Finance Ministry notification. There are about 85 lakh salaried persons in the country whose yearly income, including earnings from other sources like bank deposits, do [...]

a clrification on income tax return for fy 2011-12

February 21, 2012 | GENERAL REPORTS/TOPICS | No Comments

 (must read & send it to as many employees as u can alongwith website link www.employeesforum.in as this clarification affects all the income tax assessees) IT return Q. I am a government pensioner and file income tax returns regularly. My yearly total income is pension plus interest on deposi [...]

INCOME TAX SLABS FROM 2000-01 TO 2012-13

February 20, 2012 | GENERAL REPORTS/TOPICS | No Comments

Income Tax Slab for Financial Year 2012-13 Assessment Year 2013-14   Tax Man Women Senior Citizen   Rate (In Rupees) (In Rupees) (In Rupees) 1 0.00% Upto 2,00,000 Upto 2,00,000 Upto 2,50,000 2 10.00% 2,00,001 to 5,00,000 2,00,001 to 5,00,000 2,50,001 to 5,00,000 3 20.00% 5,00,001 to 10,00,000 5,00 [...]

Exemption from production of rent receipt if HRA is upto Rs. 3000

February 18, 2012 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

Exemption from production of rent receipt if HRA is upto Rs. 3000 And Mandatory production of PAN of the LANDLORD if rent paid by the employee exceeds Rs. 1,80,000 per annum     Extracts from the CIRCULAR NO 05/2011 [F.No. 275/192/2011-IT(B) ] Dated 16/08/2011 of Government of India, Minis [...]

80 C SAVINGS – WHO’s NAME CAN BE DONE ,MINIMUM HOLDING PERIOD

February 8, 2012 | GENERAL REPORTS/TOPICS | No Comments

Normally person has some confusion about on who’s name saving under section can be done and whether 80C benefit can be availed where investment is being done in the name of children or wife/Husband name or Joint name . We have consolidated  the rules which resolve the issue . After reading t [...]

HOW TO GET EXEMPTION FROM HOUSE RENT ALLOWANCE

February 7, 2012 | GENERAL REPORTS/TOPICS | No Comments

H OUSE RENT ALLOWANCE (HRA), IS AN ALLOWANCE GIVEN BY AN EMPLOYER TO MEET THE EMPLOYEE’S EXPENSES TOWARDS RENTING AN ACCOMMODATION. ALTHOUGH HRA IS VERY SIMPLE TERM AND CALCULATION, BUT  THE TAX IMPLICATIONS OF THE HRA NEED SOME KNOWLEDGE. HERE ARE SOME POINTS WE MUST KNOWS, TO UTILISE .THIS COM [...]

EXEMPTION LIMIT FOR SPECIAL ALLOWANCES

January 29, 2012 | GENERAL REPORTS/TOPICS | 2 Comments

IN RESPONSE TO OUR ARTICLE ON TAX PLANNING,WE RECIEVED A VERY INTERESTING FEEDBACK WHICH WILL SURELY BE USEFUL TO THOUSANDS OF EMPLOYEES.IT WAS ABOUT SPECIAL ALLOWANCES LIKE HILLY AREA ALLOWANCE,UNIFORM ALLOWANCE,TRANSPORT ALLOWANCE WHICH R EXEMPTED UPTO A CERTAIN LIMIT BY INCOME TAX DEPTT. PLEASE R [...]

PERSONAL TAX PLANNING & TAX SAVING SCHEMES FOR YEAR 2011-12

January 28, 2012 | GENERAL REPORTS/TOPICS | No Comments

COMING MONTH OF JAN. OR FEB.,EVERY SALARIED INDIVIDUAL IS IN A HURRY TO PLAN HIS TAX SAVINGS TO CUT DOWN THE TAX BURDEN. BUT IF WE PLAN THIS FROM START OF THIS FINANCIAL YEAR,IT IS VERY EASY FOR US IN LAST MONTHS.STILL WE R GIVING U A GUIDE TO TAX SAVING TIPS.ALSO WE R PROVIDING ... [...]

LIST OF SCHEDULE CASTES IN PUNJAB

January 17, 2012 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

LIST OF SCHEDULE CASTES IN PUNJAB STATE IS PRINTED HERE…………….. READ MORE by [...]

LIST OF BACKWARD CLASSES IN PUNJAB STATE

January 17, 2012 | GENERAL REPORTS/TOPICS, SERVICES | No Comments

LIST OF BACKWARD CLASSES IN PUNJAB IS PUBLISHED HEREWITH……………….. list of obc in punjab by [...]

WHETHER INTEREST ON HOUSE LOAN BEFORE COMPLETION PERIOD IS EXEMPTED FROM INCOME TAX.

January 16, 2012 | GENERAL REPORTS/TOPICS | No Comments

SOME POINTS TO KEEP IN MIND ABOUT INTEREST ON HOUSE LOAN FOR TAX REBATE ON INTEREST PRE CONSTRUCTION INTEREST MONEY MAY BE BORROWED PRIOR TO THE ACQUISITION OR CONSTRUCTION OF THE PROPERTY. IN SUCH A CASE, INTEREST PAID/PAYABLE BEFORE THE FINAL COMPLETION OF CONSTRUCTION OR ACQUISITION OF THE P [...]

THERE IS NO PANELTY ON LATE FILING OF INCOME TAX RETURN

January 16, 2012 | GENERAL REPORTS/TOPICS | No Comments

THERE IS NO PANELTY ON LATE FILING OF INCOME TAX RETURN Due date of filing of income tax return for Assessment Year 2011-12 (financial year 2010-11) 1. In case of person who are not liable to get their accounts audited is 31.07.2011 2. In case of person who’s accounts are liable to be audited [...]

PAY COMMISSION GAINS MAY NOT COME IN FUTURE

January 16, 2012 | GENERAL REPORTS/TOPICS | No Comments

Pay commission gains may not come from back date The windfall government employees receive by way of pay commission award arrears may no longer be forthcoming. The government is examining a proposal to implement pay commission awards prospectively on the lines of finance commission awards, as large [...]

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