Suggestions invited from employees of Income Tax regarding restructure

The Cadre Review Committee has invited suggestions from departmental stakeholders, including individual employees on various issues/areas of cadre review to make the consultations wide and inclusive.

View the original order here.

Notification regarding immovable Property Return for the year 2008

1. Immovable Property Return for the year 2008 (as

on 1.1.2009) is required to be submitted by all the group 'A' and Group 'B' (GazettedlNon-

Gazetted) officers, in the prescribed proforma latest by 31st January, 2009.

2. The officers belonging to All India/Central group' A' Organised Service other than CSS

should send one copy of the return to their respective Cadre Authorities direct and another copy

to EO(PR) Section of this Department under intimation to the Vigilance Section.

3. The CSS officers of the rank of Under Secretary and above should send their return to

EO(PR) Section direct under intimation to this Section.

4. All the other officers should furnish their return to the Vigilance Section.

5. The return may be furnished latest by 31st January, 2009.

See here for full details.

Indefinite Strike Dererred.

The indefinite strike of the Central Govt. Employees which was scheduled to commence on and from 20th Januar 2009 has been deferred.

CONFEDERATION OF CENTRAL GOVERNMENT

 EMPLOYEES AND WORKERS.

 

Manishinath Bhawan

 A-2/95 Rajouri Garden

New Delhi. 110 027.

Phone: 011 2510 5324

Mobile: 98110 48303

D-11/23

Dated: I5th January, 2009.

 

            The meeting of the National Executive of the Confederation was held at New Delhi today to review the preparation for an indefinite strike action scheduled to commence from 20^th January, 2009.  The meeting heard the Secretaries of the affiliated Associations/Federations and Unions as also the secretaries of the Co-ordination Committees. The Comrades who were deputed to attend the State level Conventions also made their observations at the meeting. Most of the Speakers expressed the need for further time to reach out the membership in far flung areas.  The meeting came to the conclusion that more intensive mobilization and campaign programmes are needed to successfully carry out the strike action with full participation of the membership.  It was therefore decided not to commence the strike action from 20^th January, 2009 but defer the same to a future date and carry out an intensified campaign amongst the mass of the employees.  All affiliates will advise their State leadership to visit all branches and hold meetings to explain the Charter of Demands, educate and mobilise their employees for the eventual strike action.  Campaign material circulated by the Confederation (CHQ) (available at its website:confederationhq.blogspot.com) will be translated into vernacular and circulate amongst the members.  The said campaign should be concluded by 15.02.2009. The National Executive will meet again in February to take further decision in the matter.

 

            The representatives of the Confederation were to meet the Hon'ble Prime Minister today in a delegation with Com.Basudeb Acharya, MP to seek his intervention in bringing about a settlement of the Charter of Demands .  This meeting could not take place due to the preoccupation of the Hon'ble Prime Minister.  The meeting is likely to take place on 22^ndJanuary, 2009.

 

            The copy of the letter addressed to the Cabinet Secretary to convey the decision of the National Executive is enclosed.

            With greetings

Yours fraternally,

 

K.K.N.Kutty.

Secretary General

CONFEDERATION OF CENTRAL GOVERNMENT

 EMPLOYEES AND WORKERS.

 

Manishinath Bhawan  A-2/95 Rajouri Garden

New Delhi. 110 027.

Phone: 011 2510 5324

Mobile: 98110 48303

No.D-11/09

Dated: I5th January, 2009.

 

 

To

 

The Cabinet Secretary,

Govt. of India,

Prime Minister's Office,

New Delhi.

 

Dear Sir,

 

                                    Sub: Notice for indefinite strike dated 20-01-2009

 

            We solicit your kind reference to our notice of even No. dated 02-01-2009         intimating you of our decision to go on indefinite strike with effect from 20-01-2009 onwards.  The National Executive of the Confederation, which met today have directed me to inform you that the proposed strike action, which is to commence from 20^th Jan, 2009 has been deferred for the time being until the next meeting of the National Executive, which is scheduled to be held in February, 2009.

 

            Thanking you,

 

 

Yours fraternally,

 

 

K.K.N.Kutty

Secretary General

 

5 golden rules of tax planning

Just as rules are important for good living, so also there are some golden rules of tax planning. The five simple yet effective rules of tax planning are:

1. Spread the taxable income among various members in your family;
2. Take full advantage of tax exemptions available under the law;
3. Take full advantage of permissible tax deductions and rebates available on stipulated tax-saving investments;
4. Make optimum use of tax-exempted incomes; and
5. Simple tax planning is smart tax planning.

Understood and used properly these rules will help you achieve handsome tax savings.

Rule 1: Spread your income among your family members

The first step in tax saving is to adopt the concept of divide and rule. The simple rule is that each family member must have his or her independent source of income so as to legally become an independent taxpayer under the provisions of the income tax law.

In case the entire income of a family belongs to just one member, the tax liability is much higher than when the same income is spread among different members of the family.

Now, under the income tax law it is not possible to arbitrarily divide one's income among different members of the family -- and then pay lower tax in the names of different family members. However, this goal can be achieved by intelligent use of the facility of gifts and settlements.

Gifts you receive are not your income

Generally, any gift you receive from various members of your family and specified relatives is not considered your income but a capital receipt. Thus, no income tax is payable on gifts received from relatives -- and also gifts received from parties other than relatives up to a sum of Rs. 50,000 and at the time of marriage up to any amount.

The first rule of tax planning requires that one develops income tax files for oneself, one's spouse, one's major children, the Hindu Undivided family, and for all other major relatives in the family, including one's parents. The development of different files of major family members can be achieved through the process of gifts and settlement.

No income tax on your inheritance

No income tax is payable on any amount received or inherited by you, whether in the form of movable assets or immovable assets, consequent to the demise of your friend or relative. Moreover, there is no upper limit to this exemption.

Hence, whenever you receive either bank fixed deposit, shares or immovable property consequent to the demise of a person, you don't have to pay any income tax at all on the value of all inherited assets.

The simple rule is that the asset so inherited by you is not your income; it is a capital receipt. Hence you are not liable to pay any income tax on the money and assets you inherit.

Rule 2: Take full advantage of all tax exemptions

The second step of tax planning lies in claiming all the exemptions and deductions which are permissible under the income tax law.

A list of most such exemptions and deductions is contained in Section 10 of the Income Tax Act. This list has to be optimised depending on your facts and circumstances.

If you and your family members are not claiming the optimum benefit of exemptions and deductions, then it is time to focus on investment planning in the group so that every family member gets full benefit of all permitted tax exemptions.

Rule 3: Take full advantage of tax deductions

Then, too, various tax deductions are available under the income tax law. One should try to avail of the benefit of these deductions for each and every member of the family.

The various investment options that offer tax rebates should be reviewed keeping in mind various aspects like the age factor, etc. A check-list should be prepared of the various deductions permissible under the income tax law.

Check whether each and every tax paying family member is claiming these. If special care is taken of this aspect, then it is legally possible to save a lot of income tax.

It is suggested that a chart be prepared of tax, deductions and exemptions for every family member for purposes of overall tax planning of the family.

It would be worthwhile if a group tax chart is prepared containing details relating to income tax, tax deductions, net taxable income, tax deducted at source, rebate of tax, and, finally, the net amount of income tax paid in the case of each family member.

With the help of this one simple chart, you can achieve substantial tax planning as it will show up those who have not made optimum use of tax deductions.

Rule 4: Exempted incomes

There are innumerable incomes under the income tax law which are exempted from the purview of tax. These incomes are known as exempted incomes.

For example, interest income from tax-free bonds as also any income from agriculture are some items of exempted incomes. There are other exempted incomes also which are discussed in this book.

Proper planning of your investments in a way so as to generate tax-exempt incomes is another golden rule of tax planning.

Rule 5: Don't overdo it; keep tax planning simple

Easy, simple, hassle-free should be the objectives of your tax planning approach.

The message which we want to bring to you is that you should adopt tax planning but never overdo it; just remember and follow the golden rules outlined above. These will help you achieve your tax-saving mission without going overboard.

It is possible to save tax perfectly legally provided you plan your affairs along the rules described above. This would also help you avoid all worries and tension as all your incomes, assets and investments would be duly accounted for from the taxation point of view.

[Excerpt from How to Save Income Tax through Tax Planning (FY 2008-09) by R N Lakhotia & Subhash Lakhotia, India's top taxation experts. Published by Vision Books.]

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Central Govt Employees served Strike Notice to Cabinet Secy.

PRESS STATEMENT

Dated 2^nd January, 2009

 

            The Central Government employees organizations affiliated to the Confederation of Central Government Employees and workers held a massive rally at Jantar Mantar today to serve the strike notice on the Government of India. The Strike Notice has been handed over to the Cabinet Secretary, Government of India, New Delhi.  The Confederation has decided in its National Executive committee meeting held at New Delhi on 13^th December, 2008 to organize an indefinite strike action from 20^th January, 2009 demanding settlement of the 20 point Charter of demands inter alia including the grant of Minimum wage as per the 15^th ILC norms, improvement in the fitment formula of pay fixation over the recommendations of the 6^th CPC, better financial benefit on promotion on par with the officers of the Government of India, lifting the ban on recruitment,  stopping the outsourcing and privatization of Governmental functions, demanding the Government not to accept the recommendation for the abolition of about 9.7 lakhs  Group D Posts in the Government, lifting the arbitrary ceiling of 5% on compassionate appointments acceptance of the Board of Arbitration awards etc . All the affiliated organizations have served the strike notices to the Heads of respective Departments.  Similar rallies will be held at all State Capitals on 5^th and 6^th January, 2009

 

            The copy of the strike notice served today is enclosed.

 

K.K.N. Kutty.

Secretary General

 

CONFEDERATION OF CENTRAL GOVERNMENT

EMPLOYEES AND WORKERS

Manishinath Bhawan

A/2/95 Rajouri Garden

New Delhi. 110 027

 

Phone: 011 2510 5324

Fax      011 2510 5324

Mobile:  98110 48303

 

Conf/ D-9/2007                                                                               Dated: 2^nd January, 2009

 

To

The Cabinet Secretary,

Rastrapathy Bhawan Annexe,

New Delhi – 110 001.

 

 

Dear Sir,

 

 

            This is to give notice that the employees who are members of the affiliates of the Confederation of Central Government employees and workers will go on indefinite strike from 20^th January 2009.  The Demands in pursuance of which the employees will embark upon the strike action is enclosed.

 

            Thanking you,

 

Yours faithfully,

 

K.K.N.Kutty,

Secretary General.

 

Enclosure, Charter of Demands.[Published in earlier post of this blog]

 

Income Tax Rates for Financial Year 2008-09 and 2009-10.

As there is no change in the tax structure for the FY. 2009-10, the same rate is applicable as the last year.

For Males

For Year 2008-2009

For Year 2009-10

 

Taxable Annual Income Slab (In Rs.)

Tax Rate (In %)

Upto Rs. 1,50,000/-

Nil

Rs. 1,50,001/- to Rs. 3,00,000/-

10%

Rs. 3,00,001/- to Rs. 5,00,000

20%

Above Rs. 5,00,000/-

30%

For Females 

For Year 2008-2009

  For Year 2009-10

Taxable Annual Income Slab (In Rs.)

Tax Rate (In %)

Upto Rs. 1,80,000/-

Nil

Rs. 1,80,001/- to Rs. 3,00,000/-

10%

Rs. 3,00,001/- to Rs. 5,00,000/-

20%

Above Rs. 5,00,000/-

30%

For Senior Citizen 

For Year 2008-2009

  For Year 2009-10

Taxable Annual Income Slab (In Rs.)

Tax Rate (In %)

Upto Rs. 2,25,000/-

Nil

Rs. 2,25,001/- to Rs. 3,00,000/-

10%

Rs. 3,00,001/- to Rs. 5,00,000

20%

Above Rs. 5,00,000/-

30%