Thursday, 29 October 2015

Government Sets-Up A Committee to Simplify The Provisions of The Income Tax Act, 1961

The Government of India has constituted a Committee with a view to simplify the provisions of the Income Tax Act, 1961, with the following composition:

(i) Justice R.V. Easwar, (Retd.), former Judge,

Delhi High Court and former President, ITAT - Chairman

(ii) Shri V.K. Bhasin, former Law Secretary - Member

(iii) Shri Vinod Jain, Chartered Accountant - Member

(iv) Shri Rajiv Memani, Consultant - Member

(v) Shri Ravi Gupta, Sr. Advocate - Member

(vi) Shri Mukesh Patel, Tax-Advocate - Member

(vii) Shri Ajay Bahl, Consultant - Member

(viii) Shri Pradip P. Shah, Investment Adviser - Member

(ix) Shri Arvind Modi, IRS (IT:81009) - Member

(x) Dr. Vinay Kumar Singh, IRS (IT:95006) - Member

The Terms of Reference (ToR) of the Committee shall be as follows:

i) To study and identify the provisions/phrases in the Act which are leading to litigation due to different interpretations;

ii) To study and identify the provisions which are impacting the ease of doing business;

iii) To study and identify the areas and provisions of the Act for simplification in the light of the existing jurisprudence;

iv) To suggest alternatives and modifications to the existing provisions and areas so identified to bring about predictability and certainty in tax laws without substantial impact on the tax base and revenue collection; and

The Committee shall set its own procedures for regulating its work. The Committee can also work in Sub-Groups and the draft prepared by the Sub-Groups can then be approved by the whole Committee. The Committee will put its draft recommendations in the public domain. After stakeholder consultations, the Committee will formalise its recommendations. The Committee can give its recommendations in batches. The First Batch containing as many recommendations as possible shall be submitted by 31^st January, 2016.

The Term of the Committee shall be for a period of one year from the date of its constitution.

Wednesday, 28 October 2015

The new look of indiapost website

You can now see the new look of the indiapost website at

New Look of IndiaPost Website

PA/SA Exam Paper Previous Year

click the below link for view/download the PA/SA Exam paper 2014

view/download

Tuesday, 27 October 2015

Finacle / Mccamish receipt Printing in Dot matrix Printers - Suggestion reg.

Finacle and Mccamish receipts printing can be done in Dot matrix Printer itself in legible, readable way by changing the settings as below:

Open the PDF document to Print

--Go to File

--Print

--Properties

-- Advanced

-- Below Paper Quality, Graphic appears and 120x72 dots per inch stands selected defaultedly. If you click on 120X72, a combo box will appear. From the drop-down, select 240X216 dots per inch.

--Give Ok.

--Ok.

--Print.

I am doing in the above manner and printing reports in Finacle and Mccamish. Its a humble suggestion for our colleagues suffering without Laser printers. I faced hardship without laser printer and then tried and found it by trial and error method. I would like to inform you so that you will let our colleagues know.

Thanks to

K. Radha, SPM,
Srirangam West S.O.
Trichy-620006.
ph: 9486311338.

Seventh Pay Commission Likely To Allow Work From Home For Disabled, Women Employees

New Delhi: Seventh pay commission is likely to ask the government to consider allowing disabled and women central government employees to work from home.

The commission may recommend government to ask Information and Technology department, whether it is possible to have systems in place for monitoring and supervising work being done remotely by disabled and women central government employees .

“Allowing disabled and women central government employees a choice in where and how they work can increase employee loyalty and job satisfaction, and the government needs to apply it for a big win to boost their confidence, which will also give the productivity,” said a pay panel official.

The studies revealed those disabled and women employees who have the option of working outside of the office also reported somewhat lower levels of stress and exhaustion. And studies have suggested that employees tend to get higher performance evaluations.

Allowing employees to work away from a government office means increased opportunities for those women and those persons with disabilities. It can also help the environment, as the employees are able to eliminate lengthy commutes.

The work from home filtered into jobs that have little to no stress and minimal travel.

At present, the strength of disabled employees in the total workforce of the central government is 9,339, which constitutes 0.3 per cent of the total staff strength of 29.59 lakh, according to an RTI reply to The Indian Express from the Department of Personnel and Training (DoPT).

Women employment under central government has been estimated to the tune of 3.37 lakh, which is 10.93 percent of the total regular central government employment, according to census of central government employees as on March 31, 2011.

“We are looking at whether it is technologically possible to allow disabled and women employees for working from home,” said the official.

“A need was felt to provide work from home facility to persons with disabilities and women to enable them to effectively discharge their duties.,” he added.

The government constitutes the Pay Commission almost every 10 years to revise the pay scale of its employees and often states also implement the panel’s recommendations after some modifications.

Headed by Justice Ashok Kumar Mathur, the four-member Commission was appointed in February 2014 and the commission will hand over its recommendations to government within December 31, 2015.

As part of the exercise, the current Pay Commission holds discussions with various stakeholders, including organisations, federations, groups representing civil employees as well as defence services.

The Sixth Pay Commission was implemented with effect from January 1, 2006, the fifth from January 1, 1996 and the fourth from January 1, 1986. The Seventh Pay Commission will be implemented with effect from January 1, 2016.

source : http://www.tkbsen.in/