Six things to know about tax deducted at source

1. TDS is the tax paid by individuals on certain types of incomes. The deductor, or the person paying the income, deducts the tax and pays the balance to the deductee, or the one receiving the income.

2. The types of income which invite TDS include salary paid to employees, interest on bank deposits and bonds, winnings from lotteries and horse races, etc.

3. TDS is deductible at various rates specified by the government. There may be a threshold listed for different types of incomes, and TDS may be levied only above this limit.

4. The deductor issues a TDS certificate to the deductee, giving details of the tax cut. It is treated as tax paid by the deductee on income earned, and adjusted against income taxpayable for the year while filing the return.

5. The responsibility of deducting tax at source and depositing it with the government lies with the deductor. The TDS should be deposited within a week of the end of the month in which the deduction is made.

6. The returns for the TDS must be filed by all deductors every quarter on the prescribed forms. The respective due dates for filing of returns are 15 July, 15 October, 15 January and 15 May.

Source : The Economic Times

Declaration of Holiday on 14th April, 2013 - Birthday of Dr. B.R. Ambedkar.

MOST IMMEDIATE

F. No.12/4/2013-JCA-2

Government of India

Ministry of Personnel, Public Grievances 86 Pensions

(Department of Personnel & Training)

North Block, New Delhi

Dated the 8th  April, 2013.

OFFICE MEMORANDUM

Subject: Declaration of Holiday on 14th  April, 2013— Birthday of Dr. B.R. Ambedkar.

It has been decided to declare Sunday, the 14th  April 2013, as a Closed Holiday on account of the birthday of Dr. B.R. Ambedkar, for all Central Government Offices including Industrial Establishments

throughout India.

2.         The above holiday is also being notified in exercise of the powers conferred by Section 25 of the Negotiable Instruments Act, 1881 (26 of 1881).

3.         All Ministries/Departments of Government of India may bring the above decision to the notice of all concerned.

Sd/-

(Ashok Kumar)

Deputy Secretary to the Government of India

2309 2589

To view please Click Here.

Dearness Allowance from January 2013 - 6th CPC Recommendations on merger of 50% Dearness Allowance...

"No any recommendation in 6th CPC Report on merger of 50% Dearness allowance with basic pay at any stage"...

Dearness Allowance from January 2013 - 6CPC Recommendation

As of now nobody knows the correct reason why the government is delaying the approval of DA hike from January 2013. Actually the delay in announcing the dearness allowance helps the people speculate more about the Governments Plan about whether the 50% DA will be merged or not. 

As per the 6CPC recommendation accepted by the government, the Dearness Allowance supposed to be enhanced from 1st January of every year has to be paid with salary of month of March. The 6 CPC was very much clear about two things; first one is the formula for calculating the quantum of DA to be paid to central government employees and its frequency. Second one is on Merger of 50% Dearness allowance with Basic pay by converting it as dearness Pay

Sixth Pay Commission recommendation on Merger of 50% Dearness Allowance and sanctioning of DA to central government employees

Correction in Clause l70 of Post Office Guide Part-I regarding amount of compensation payable in case of loss/damage of registered articles

To view Postal Directorate Memo No. 28-10/2013-PO dated 21-3-2013, please CLICK HERE.

Recruitment Rules for the post of Assistant Superintendent of Posts

To view please Click Here.

Recruitment Rules for the post of Inspector Posts

To view please Click Here.

DBAnalyzer dated 02/04/013 for Sanchay Post

DBAnalyzer has a new feature to generate a consolidated report of all discrepancies in the database. Unzip the additional exe & all the DLL files included in the DBAnalyzer zip file and copy to the DBAnalyzer folder.

NOTE: Generation of Consolidated Report is a TIME CONSUMING PROCESS. All offices are advised to generate this report after completing the daily routines like DAY-END process, Database Backup, etc.

Download : http://tamilnadupost.nic.in/sdc/xfiles/DBAnalyzer.zip

INTEREST TABLE W.E.F 01.04.2013

INTEREST TABLE W.E.F 01.04.2013

RD Maturity Value for Denomination of Rs.100

Maturity Value before 01.12.2011	Maturity Value w.e.f 01.04.2012 to 31.03.2013	Maturity Value w.e.f 01.04.2013
Interest @ 7.5 %	Interest @ 8.4 %	Interest @ 8.3 %
Rs. 7289/-	Rs. 7465/-	Rs. 7445/-

RD Maturity Value for Denomination of Rs. 100/-

in case of extension after 5 Years

Maturity Period	Interest @ 8.40 % 01.04.2012 to 31.03.2013	Interest @ 8.30% w.e.f 01.04.2013
5 Years	7465	7445
6 Years	9368	9338
7 Years	11436	11392
8 Years	13682	13622
9 Years	16124	16044
10 Years	18777	18672

MIS Monthly Interest for Denomination of Rs.150000/-

Monthly Interest before 01.12.2011	Monthly Interest  w.e.f 01.04.2012 to 01.04.2013	Monthly Interest  w.e.f 01.04.2013
Interest @ 8.0%	Interest @ 8.5%	Interest @ 8.4%
Rs. 1000/-	Rs.1062/-	Rs.1050/-

NSC5 Year Maturity Value for Denomination of Rs.10000/-

Maturity Value before 01.12.2011	Maturity Value  w.e.f 01.04.2012 to 31.03.2013	Maturity Value  w.e.f 01.04.2013
Interest @ 8.0%	Interest @ 8.6%	Interest @ 8.5 %
Rs. 16010/- (6 Year)	Rs.15235/- (5 Year)	Rs.15162/- (5 Year)

NSC 10 Year Maturity Value for Denomination of Rs.10000/-

Maturity Value  w.e.f 01.04.2012 to 31.03.2013	Maturity Value  w.e.f 01.04.2013
Interest @ 8.9%	Interest @ 8.8%
Rs.23887/-	Rs.23660/-

SCSSQuarterly Interest for Denomination of Rs.100000/-

Interest @ 9.3%	Interest @ 9.2%
Quarterly Interest  w.e.f 01.04.2012 to 31.03.2013	Quarterly Interest  w.e.f 01.04.2013
Rs.2325/-	Rs.2300/-

Courtesy : http://akulapraveen.blogspot.in/

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Dispatch of Admit cards for PA/SA Recruitment examination.

DEPARTMENT OF POSTS

Office of the Chief Postmaster General, Delhi Circle

Meghdoot Bhawan, New Delhi-110001

(M.O. Section)  

To                                                                                                                                  

All CPMsG
 In India.
           
No:- Mails/42-1/PA/SA/DR/2013                                                                                  dated 28.03.2013

Sub:     Dispatch of Admit cards for PA/SA Recruitment examination.

This is regarding dispatch of 10.67 lac of admit Cards through ordinary post (with pre fixed Rs.5/- stamp) tendered by CMC Limited.

The said mails have been tested on machine (LSM) & found that the mails were not compatible  with machine. 

Due to acute shortage of manpower it is very difficult to make the sorting work of 10.67 lakh mail at AMPC/Delhi. Keeping in view the such huge & time bound mail, it has been decided to dispatch these all mail circle-wise to circle’s headquarters for further sorting, dispatch and delivery within circle.The breakup of the total mail with indication of total mail for each circle is enclosed for ready reference.

It is, therefore, requested to kindly make the proper arrangement of sorting, dispatch and delivery of admit card in your circle. These mails will be dispatched by the S.J. MBC to circle's headquarter indicating ‘SPL’bag on label for further necessary action.

 Asstt. Director(MO)

o/o CPMG, Delhi Circle

New Delhi-110001

 Copy to:

1.     DDG(Rectt.) Postal Directorate, Dak Bhawan New Delhi-110001 for information and necessary action.
2.     Director (MB) Postal Directorate, Dak Bhawan New Delhi-110001 for information and necessary action.
3.     Sh. Sanjeev Dham Dy. General Manager CMC Limited  Okhla Phase I New Delhi-110020.He is requested to make the arrangement of handing over circle-wise mails with  stamp of Rs. 5/-affixed on each letter to S.J. MBC S.J.Airport New Delhi-110003 w.e.f. 01-04-2013.
4.     SSRM Air Mail Sorting Division New Delhi-110021 for information and making proper arrangement of receipt and dispatch of above said mails direct to concerned Circle’s headquarters with indication ‘SPL’ bag on labels.  

Postal department launches service to transfer money via cellphone

ALLAHABAD: Sending and receiving a money order will be easier now than ever as India Post introduces money order facility through mobile phones. Under the Mobile Money Transfer Service (MMTS) minimum amount of Rs. 1,000 and maximum of Rs. 10,000 can be sent in a single transaction, whereas there is no limit to the maximum number of transactions made in a day.

Inaugurating the service at Allahabad Kutchery Head Post Office, Krishna Kumar Yadav director Postal Services Allahabad region said Mobile Money Transfer is a financial service is a facility for remittance and receiving of money at selected post offices. The director launched the service by sending money from Allahabad Kutchery Head Post Office to Pratapgarh Head Post Office.

Yadav said rates of the service have been fixed low, keeping in mind needs of customers. A person sending money through MMTS will be charged Rs 45 for sending money in the range of Rs 1,000-Rs 1,500, Rs 79 for an amount between Rs 1,501 and Rs 5,000 and Rs 112 for money transfer for an amount from Rs 5,001 to Rs 10,000.

In the pilot phase this service has been started in 136 post offices of Uttar Pradesh, whereas 19 offices of Allahabad Region have been covered in this phase. It will be the priority of the department to cover offices in rural and remote areas under the service. In Allahabad, the service has been started in Bamaila, Atraura and Aura branch post offices, Mau Aima Sub Office and Allahabad Kutchery Head Post Office.

Yadav added that the Department of Post had partnered with state-run BSNL to launch the mobile money transfer service. BSNL will handle the technology backend for the department and provide connectivity.

Under Mobile Money Transfer Service, customers will have the facility to send money anywhere in the country. Specially designed mobile handsets with preinstalled mobile money transfer application have been provided to the offices selected to carry out this service.