• NSDL uptades e-TDS/e-TCS Return System
    Friends, all the correction in e-tds/e-tcs return is not possible without consolidated FVU you know very well about that. The regular FVU doesn't make any correction in e-tds/e-tcs return therefore the system income tax department provides new consolidated FVU to submit correction return, it is very complicated to got get consolidated FVU, but there are lot of benefits. NSDL has provided a good facility in this regard and updated consolidated.

    Earlier there was no lock to update challan detail after its booked status or Provisional Booked Status. Now consolidated fvu file after using update mode in challan sheet, allow to edit only those columns which are editable and locked those columns which are not editable. In case status of challan is "Booked" or "Provisional Booked", correction in section code, Interest and Others can only be done in challan sheet. Pictures view for more clarity is also below below.

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  • Importance of Digital Signature while uploading of Income Tax Returns u/s. 140 of the IT Act, 1961.
    1. As per Section 140 of the IT Act 1961, the person responsible for signing the I-T return can be, typically, the:
    a) Managing Director or any other Director (in case the MD is unavailable) in case of a Company;
    i. Any authorized person holding a legal power of attorney in case of a Non-resident Company;
    b) Managing Partner in case of a Firm or any other Partner (in case the Managing Partner is unavailable);
    c) Principal officer / Chief Executive Officer or Competent person in case of other entities such as Association of persons, Body of Individuals, Artificial Juridical person, Local Authority, Trust etc
    d) Karta in case of a HUF;
    e) Self in case of an Individual or;
    i. Any authorized person holding a legal power of attorney in case the individual is incapable of signing the I-T Return or is absent from India.
    2. Any person wishing to sign the I-T Return digitally has to complete the registration process for the DSC on the e-filing website- http://incometaxindiaefiling.gov.in prior to signing.
    3. Any person could register his DSC to be used to sign the I-T Return of any entity provided he was a Director or Partner or Key Person as mentioned in the Key person Schedule of the I-T Return (ITRs 5 or 6) already filed electronically with the Income Tax Department.
    4. Any person could register a DSC and use the same in his individual capacity to sign his own IT Return as well as sign the I-T returns in his various capacities as mentioned in 1 above, if required, and for as many entities as applicable.
    5. Any person could change or update his DSC registration any number of times.

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  • Conditions of Gift Tax to Exempt from Income Tax In INDIA Conditions of Gift Tax to Exempt from Income Tax In INDIA

    Now the Income Tax Department exempt Gift Tax from Income Tax such Gift which are in kind of Cash or any other properties but which they are very few. The following list of conditions to exempt from Income Tax of Gifts Tax.

    1. Gift from spouse means wife or husband.
    2. Gift from brother or sister.
    3. Brother or sister of the spouse.
    4. Brother or sister of either of parents either husband or wife.
    5. Any lineal ascendant or descendant.
    6. Any lineal ascendant or descendant of the spouse.
    7. Money or property received by a person on the occasion of his/her marriage.
    8. Property or money transferred by the way of inheritance of either individual or H.U.F.
    9. Property or money received in contemplation of the payer.
    10. Property or money received from the local authority.
    11. Property or money received from any local university, college, or any other government institute under section 10(23) of the income tax act or section 12AA of the income tax act.

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  • Allowances in 6th Pay Commission as Per UGC to Senior College Teachers Allowances in 6th Pay Commission as Per UGC to Senior College Teachers

    Besides the scales of pay, the Pay Review Committee also recommends the revision of various existing allowances admissible to teachers. Some new allowances have also been recommended to be granted to the eachers, once again, to make the pay and allowances more attractive for both bringing fresh talent into the profession and also for retaining those who are already in the University and College structure.

    1 House Rent Allowance
    The Pay Review Committee recommends that teachers working in different parts of the country shall be entitled to House Rent Allowance according to the following

    three categories of cities:
    Category X with population of 50 lakhs and above
    (A-1 cities earlier) = 30% of (Basic Pay + Grade Pay)
    Category Y with having population of between 5 lakhs and 50 lakhs (A, B-1 and B-2 cities earlier) = 20% of (Basic Pay + Grade Pay) Category Z with population below 5 lakhs (C and unclassified cities) = 10% of (Basic Pay + Grade Pay)

    2 Dearness Allowance and City Compensatory Allowance
    Dearness Allowance may be allowed to the teaching faculty as admissible to the central government employees from time to time.
    The VI Central Pay Commission has abolished City Compensatory Allowance and the Pay Review Committee agrees with that recommendation in respect of teachers
    also.

    3 Transport Allowance
    The VI Central Pay Commission has raised the Transport Allowance from Rs. 800 upto Rs. 3200. The Pay Review Committee recommends that teachers should be paid the allowance in the following graded manner, according to the size of the cities wherein the institutions are located:
    A-1/ A Class cities (13 notified cities1) Rs. 3200+ DA thereon
    Other Cities Rs. 1600+ DA thereon
    This allowance shall be admissible to all college and university teachers, irrespective
    of the distance between the place of residence and the place of work, whether or not
    they are residing in an accommodation provided by the employer on the premises of
    the institution.

    4 Children’s Education Allowance (CEA)
    The Pay Review Committee recommends that a teacher shall be entitled CEA for the
    school going children up to Class XII at the following rates per month on
    reimbursement basis in line with the provision for central government employees.
    Up to Rs. 1000/- per month, per child up to a maximum of two children
    Up to Rs. 3000/- per month, per child who is residing in a school hostel, up to a
    maximum of two children.
    However, both hostel subsidy and child education allowance cannot be availed
    of concurrently.
    The above limits would be automatically raised by 25% every time the
    dearness allowance on the revised pay structure goes up by 50%.

    5 Academic Allowance
    There has been a persistent demand from all sections of the teaching community for
    some regular, monthly academic allowance to meet the expenses for internet
    rentals, computer peripherals and for buying books and journals all of which have
    become very expensive. Finding the demand justified, the Committee recommends
    that an academic allowance of Rs.1500 Per month should be paid to an Assistant
    Professor, Assistant Professor (Senior Scale) and Assistant Professor (Selection
    Grade) and Rs. 1200 per month to Associate Professor, Senior Associate Professor,
    Professor and Senior Professor towards meeting the expenses. It will also make the
    pay packages more attractive for the new entrants since teachers in Assistant
    Professor category will get more academic allowance in comparison with Associate
    Professor, Senior Associate Professor, Professor and Senior Professor.
    The Committee has consciously made the recommendation of paying higher
    Academic Allowance to teachers in various categories of Assistant Professor
    since in its view their needs at the initial stages of their academic career are

    Notified 13 Cities:: Hyderabad (UA), Delhi (UA), Bangalore (UA), Greater Mumbai(UA), Chennai(UA),
    Kolkata(UA), Ahemadabad(UA), Surat(UA), Nagpur(UA), Pune(UA), Jaipur(UA), Lucknow(UA),
    Kanpur(UA)

    more than those of senior teachers in the categories of Associate Professors
    and Professors.

    6 Research Promotion Grant (RPG)
    Apart from several representations received by the PRC, several teachers’ have
    voiced the demand for seed money to encourage research work in universities and
    colleges. The Committee is aware of the fact that potential researchers need to be
    encouraged to match the global competition. It is of the opinion that research works
    should be treated as national investment and that substantial measures should be
    taken in this regard.

    The PRC recommends that new entrants to the profession should be given one
    time start up seed money of Rs. 2.00 lakhs and Rs. 5.00 lakhs for
    humanities/social sciences and sciences respectively as financial support for
    carrying out research against duly approved projects.
    The process for granting approval to such projects should be developed by colleges
    in consultation with departments/discipline in the university and in the university
    through faculty committee of advanced study of research and board of study.

    6 Special Compensatory (Hill Area) Allowance
    The Committee has taken note of the problems in filling the posts in the hill districts
    and therefore recommends that a Special Compensatory (Hill Area) Allowance
    of Rs.600 per month may be allowed to teachers posted in these areas as
    notified by the Central/ State Governments.

    7 Special Compensatory (Remote Locality) Allowance
    The Committee has taken note of the large number of vacancies of teachers in the
    remote areas and feels some special compensation is called for to attract teachers to
    work in the remote areas. The Committee therefore recommends Special
    Compensatory (Remote Locality) Allowance to the teachers as admissible to
    the Central Government employees on the terms and conditions governing the
    grant of Special Compensatory (Remote Locality) Allowance.
    Provided that in places where more than one Special Compensatory Allowance is
    admissible, the teachers in such stations will have the option to choose between the
    allowances (mentioned at 5.2.13 and 5.2.14 above) whichever benefits them the
    most.

    8 Special (Duty) Allowance for Teachers Serving in North Eastern
    Region including Sikkim and Ladakh
    The Committee recommends a Special (Duty) Allowance at the rate of 12.5% on
    pay plus grade pay to teachers serving in these areas as applicable to Central
    Government employees.

    9 Deputation Allowance
    Deputation duty allowance for local or outstation postings may be allowed at
    the rate of 5% and 10% respectively on pay plus grade pay subject to a
    maximum of Rs. 2000 and Rs.4000 respectively.

    10 Leave Travel Concessions
    The Teachers Associations have suggested the following pattern of LTC.
    A Block of 2 years should be followed in place of 4 years
    Home Travel: Every Year
    Entitlement: By Air from the beginning of the service
    To begin with the Asian countries should be included in the scheme of LTC
    In case of non-availing of LTC it should be en-cashable.
    The Sixth CPC has made certain changes in the travel entitlement and definition of
    family. The Committee endorses these modifications and recommends the same
    may be applied to the teaching faculty also as and when notified by the Government
    of India.

    Recommended Pattern of LTC: As regards the pattern of LTC, the PRC feels every
    teacher must get a break at least once in a year. It therefore recommends the
    following pattern of LTC for teaching faculty.
    LTC for travel to Home Town may be allowed on any three occasions not
    exceeding one in a year in a block of 4 years.
    For any one year of the block of four years, LTC may be allowed for any place
    in India. It would thus mean total of 4 LTC in a block of 4 years but not
    exceeding one in any one year. The PRC however does not recommend
    encashing of LTC if not availed during a block year.
    The LTC for family members may be allowed to be combined with seminars/
    workshops and other academic assignments being attended by the teacher.

    11 Traveling Allowances
    Traveling Allowances on tour or transfer has been revised by the Government of
    India for the Central Government employees. Air Travel has been allowed to
    incumbents of posts with grade pay of Rs. 5400 and above. The Committee
    recommends that teaching faculty may also be allowed TA/DA as admissible to
    Central/State Government employees, as the case may be, from time to time.

    12 Medical Allowance / Medical Insurance
    Teachers from various parts of the country had also demanded that they be paid
    some monthly allowance to meet their day to day medical expenses, since medical
    facilities and medicines had become very expensive.
    The Committee, however, was not in favour of recommending a fixed monthly
    medical allowance. Instead, the Committee recommends that a better purpose
    towards this end would be served by recommending a medical insurance for
    all teachers wherein a teacher would pay 30% of the premium and the rest
    would be contributed by the University/College.
    The Pay Review Committee further recommends that the University Grants
    Commission negotiate with leading medical insurance companies to get the
    teachers across the country the best possible deal.

    13 Group Insurance
    The VI Central Pay Commission has recommended that the subscription of Group A
    officers for group insurance scheme should be raised to Rs. 720 per month from the
    present Rs.120 per month.

    The Committee recommends that a similar group insurance scheme should be
    made applicable to all university and college teachers throughout the country
    to ensure adequate social security for them. The University Grants
    Commission may also negotiate with various group insurance agencies to get
    the best possible deal for teachers.

    14 Consultancy Assignments
    The Pay Review committee is of the considered opinion that teachers both in
    universities and colleges should be encouraged to accept consultancies, direct
    projects, register patents, R&D Products and technology transfers as a part of their
    academic duties. This would help the society at large to benefit from the professional
    inputs by the academic community and contribute directly to societal development.
    Besides it would help the individual teacher to augment his/her personal and
    institution resources. The Committee therefore recommends that the resources
    earned by a teacher through consultancy should be divided between the teacher and
    the institution in the manner give below. The University Grants Commission should
    also lay down detailed guidelines for carrying out consultancy work since this would
    help transparency and uniformity in such work.
    (i) Amount received up to 30% of the gross salary (basic salary+ grade
    pay+ DA+ Academic Allowance) – No sharing, entire amount to go the
    teacher concerned.
    (ii) Amount received beyond 30% and up to the gross Salary - Sharing of
    the money beyond 30% in the ratio of 70:30 between the teacher and the
    institution respectively.
    (iii) Amount received beyond the gross salary – To be shared in the ratio of
    50:50 of the amount of the money received beyond the gross salary
    between the teacher and institution.
    The Committee recommends that the proposed arrangement should work for five
    years where after the scheme should be reviewed in view of future developments.

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  • LIMITATIONS ON NUMBER OF PENSIONS in Maharashtra LIMITATIONS ON NUMBER OF PENSIONS in Maharashtra

    1. A Non-Teaching employee shall not earn two pensions for completing the service either in the University or in the affiliated college.
    2. A non-teaching employee who have retired on superannuation pension or retiring pension is subsequently re-employed, shall not be entitled to a separate Pension or gratuity for the period of his re-employment.

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  • Maharashtra Government 6th Pay Latest Calculator
    Maharashtra Government 6th Pay Latest Calculator

    The Maharashtra State Government implemented 6th Pay Commission from 1st Jan. 2006 as per Central Government Pay Commission with small changes. The Maharashtra State Government / Semi Government Employee / None-Government Employee enjoying the salary of 6th Pay from Jun-2009 which is paid in July-2009 as per Published Notification through Finance Department No. RPS 1209/CR-27/SER-9 dated 22nd April 2009. The Hakim Committee submitted their report to Maharashtra State Government and according to this report Maharashtra State Government were passed a Resolution of 6th pay as well as the Government was implemented 6th Pay.

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