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

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)

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.

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.

Income Tax Dept Exam for ITOs : Results not in April, most likely in May.Other results may be anytime.

As per the latest unconfirmed news from sources that the results which were assured by the Chairman, CBDT, to be published by the end of April is not likely to be out within this month. It may be expected only in May. As per the sources, the ITOs exam result is yet to be finalized while Inspectors' and Ministerial Exam results are expected at any time.