Monday, May 30, 2011

Transparency in Survey operations : Instruction from CBDT.

For bringing transparency in survey operations and obviate the possibility of any grievance to the taxpayers, it is decided that henceforth:
        I.            Survey teams visiting taxpayer’s premises under the provisions of section 133 A of the Income tax Act will, before the commencement of  survey proceedings,provide to the taxpayer the names, designations & contact numbers of their Chief Commissioner, Commissioner &Additional/ Joint   Commissioner of Income Tax.

     II.            Inform the taxpayer that in case of any grievance or otherwise, he is free to contact Chief Commissioner /Commissioner /Addl Commissioner/Joint Commissioner of Income Tax.

In order to give effect to the above instruction, survey parties will invariably carry in their survey kit names, designations & contact numbers of their CCIT / CIT / Addl / JCIT in the following proforma, on which, as a proof of implementation of above directions, signature of the taxpayer surveyed would be obtained. The said proforma, duly signed by the taxpayer,would be submitted back to the CIT,to be preserved as permanent record.

SN
Designation
Name
Contact Numbers (Landline)
Cell Number





Friday, May 27, 2011

Income below Rs 5 lakh? You need not file returns


The government has exempt salaried people earning up to Rs 500,000 annually from filing income tax returns.  A move that will bring relief to about 80 lakh people was announced by the Finance Minister Pranab Mukherjee when he presented the Budget in February.  On Tuesday, Pranab Mukherjee said this will be applicable in the 2011-12 assessment year for the income earned in 2010-11. He said that a notice to this effect will be brought out soon.
This move will reduce the compliance burden on small taxpayers. In case such a salary earner has income from other sources like dividend,interest etc. and does not want to file returns, he will have to disclose such income to his employer for tax deduction.
The Form 16 issued to salaried employees will be treated as Income Tax Return, he added.

Wednesday, May 18, 2011

Income Tax exemption on 9.5% interest on PF for 2010-11

Giving relief to 4.71 crore subscribers of EPFO, the government has allowed tax exemption on the 9.5 per cent interest income on PF deposits for 2010-11.

The Finance Ministry notification last week raises the income tax exemption to 9.5 per cent interest income from 8.5 per cent.

The decision clears the air for the EPFO subscribers who were given increased interest rate by one percentage point for 2010-11, but the Finance Ministry had not matched the interest hike with a commensurate tax exemption.

In the absence of the commensurate income tax exemption, the subscribers were earning higher returns even as it was liable to income tax.

EPFO had decided to provide 9.5 per cent interest rate on PF deposits for 2010-11 after which it was endorsed by the Finance Ministry in March this year.

Source : PTI

Tuesday, May 10, 2011

Result of Departmental Examination 2010 for ITOs published

The Directorate of Income Tax (IT) has issued the result of Departmental Examination 2010 for ITOs.The certified copy shall be made available by the concerned CCIT/CIT(Exams i/c) only. Before declaring the result, the concerned CCIT/CIT (EXAM i/c) are requested to verify the eligibility of Partially Qualified (PQ) candidates with respect to the no. of attempts and earlier subject exemptions. Similarly only those SC/ST candidates, who have earlier qualified the Departmental Examinations, either under the old pattern or the new pattern with relaxed standards, are eligible for availing "Betterment Chance.


View the result(General)


View The Result for SC/ST


View Individual Result
View Result in OLD Syllabus (Genl)
View Result in Old Syllabus (SC/ST)

Wednesday, May 4, 2011

Result of Departmental Examination 2010 for ITIs published

The Directorate of Income Tax(IT) has declared the result of Departmental Examination 2010.The certified copy shall be made available by the concerned CCIT/CIT(Exam i/c)only. As per the present grace mark policy, maximum 5 grace marks in aggregate are allowed in one or more subjects to fully pass the Examination. However, for availing exemption only in an individual subject, a candidate is given maximum 2% grace marks i.e. maximum 2 marks if the paper is of 100 marks. This gracing policy has been applied while processing the result. 
Click Here to view the result 
Click Here to view Indv Result by Roll No./Appl. No.

Monday, May 2, 2011

Salient points of CBDT’s cadre-restructuring proposal


Salient points of CBDT’s cadre-restructuring proposal
            S No.
Post/
Designation
Grade/Pay Scale

Existing
Proposed
1
Principal CC/
Director General
Apex Scale Rs. 80,000

nil

29
2
CCIT
(HAG+)
Rs. 75,500-80,000

nil
88
3
Sr. CIT /Sr. DIT/
ADG/ équivalent
(HAG)
67000-79000

116
333
4
CIT/DIT/
JDG/
equivalent
(SAG)PB-4,
Gr. pay Rs. 10,000

731
602
5
Addl. CIT/ Addl. DIT/
equivalent
(NFSG)PB-4,
Grade pay Rs. 8700

606
606
6
Jt. CIT/ Jt. DIT/ equivalent
(JAG) PB-3
Gr. pay Rs.7600

647

969
7
Dy. CIT/ Dy. DIT/equivalent
(STS) PB-3
Gr. pay Rs. 6600

1358

1601
8
Asst. CIT/
Asst. DIT/
equivalent
(JTS)PB-3
Grade pay Rs. 5400

734
1091
9
Reserves
(JTS)PB-3
Grade pay Rs. 5400

nil
760
10
ITO Gp-B

PB-2, GP Rs. 5400 & Rs. 4800
4448
6056
11
Sr. PPS
PPS
Sr. PS
PS
PB-3, GPRs.6600
PB-3, GP Rs.5400
PB-2, GP Rs.4800
PB-2, GP Rs.4200

0
0
117
706

0
0
450
602
 Sub. Total
823
1051
12
Pr. AO
Sr. AO
AO Gr. II
AO Gr. III
PB-3, GP Rs.6600
PB-3, GP Rs.5400
PB-2, GP Rs.4800
PB-2, GP Rs.4200
5
0
35
774
29
0
421
1049


Sub. Total
814
1499
13
ITI
PB-2, GP Rs.4200
9094
13521
14
Ex Asstt.(SrTA, OS/ Steno I & II/ DEO)
PB-2, GP Rs.4200
13867
19951
15
TA/ Steno III
PB-2, GP Rs.2400
11409
15123
16
Notice Server
PB-2, GP Rs.1900
2855
4088
17
Group C (Upgraded from Group D)
PB-2, GP Rs.1800
7365
11138
18
Reserves (B & C)
PB-2, GP Rs.1800
nil
1125

The proposal is being pursued by the Chairman personally.
Restructuring of the EDP and OL cadres will follow soon.
It may kindly be noted that comments published in this blog are the views of our readers. The administrator of this blog is not responsible in any way regarding the comments and opinions expressed here.
Viewers are requested to post relevant comments only and abstain from making any comment which can hurt any person or group.

My Headlines