Interest Rates For Small Savings Schemes Remain Unchange For The 2nd Quarter Of Financial Year 2020-21

Interest Rates For Small Savings Schemes Remain Unchanged For The 2nd Quarter Of Financial Year 2020-21

Interest Rates For Small Savings Schemes Remain Unchange For The 2nd Quarter Of Financial Year 2020-21

The rates of interest on varios small savings schemes for the second quarter of financial year 2020-21 starting from 1st July 2020 and ending on 30th September 2020 shall remain unchanged from those notified for the first quarter (1st April, 2020 to 30th June) of Financial Year 2020-21

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Regarding Extension of date for revival drive for lapsed PLI and RPLI policies upto 31-08-2020

Regarding Extension of date for revival drive for lapsed PLI and RPLI policies upto 31-08-2020

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Expected DA from July 2020 is more than 25%

Expected DA from July 2020 is more than 25%

    By July 2020 it is expected to dearness allowance increase by 25%. Prices are currently rising. Because of that, AICPIN points will rise. Accordingly, the July is likely to expected 25% Dearness allowance.

Here is an encapsulated DA calculator. It can be used to calculate what will happen DA from July 2020. You can input the AICPIN points (assuming) May and June month and see what expected DA percentage. Do it yourself.

Expected DA Calculator July 2020
Month	AICPIN	DA%
Jan-20		22.16
Feb-20		22.83
Mar-20		23.37
Apr-20		23.92
May-20		24.43
Jun-20

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Consumer Price Index for Industrial Workers (CPI-IW) – May, 2020

Consumer Price Index for Industrial Workers (CPI-IW) – May, 2020

Ministry of Labour & Employment

Consumer Price Index for Industrial Workers (CPI-IW) – May, 2020

The All-India CPI-IW for May, 2020 increased by 1 point and stood at 330 (three hundred and thirty). On 1-month percentage change, it increased by (+) 0.30 per cent between April and May, 2020 compared to (+) 0.64 per cent increase between corresponding months of previous year.

The maximum upward pressure in current index came from Food group contributing (+) 0.67 percentage points to the total change. At item level, Arhar Dal, Masur Dal, Moong Dal, Urd Dal, Groundnut Oil, Mustard Oil, Fish Fresh, Goat Meat, Poultry (Chicken), Milk, Cabbage, French Bean, Green Coriander Leaves, Potato, Country Liquor, Refined Liquor, Cooking Gas, Petrol, etc. are responsible for the increase in index. However, this increase was checked by Rice, Wheat, Garlic, Onion, Bitter Gourd, Coconut, Gourd, Lady’s Finger, Mango, Parval, Tomato, Torai, Banana, Kerosene Oil, etc., putting downward pressure on the index.

At centre level, Warrangal, Chhindwara and Ahmedabad recorded the maximum increase of 6 points each. Among others, 4 points increase was observed in 6 centres, 3 points in 11 centres, 2 points in 9 centres and 1 point in 8 centres. On the contrary, Doom-Dooma Tinsukia recorded the maximum decrease of 10 points followed by Salem (9 points), Munger-Jamalpur (8 points) and Lucknow (7 points). Among others, 5 points decrease was observed in 1 centre, 4 points in another 1 centre, 3 points in 6 centres, 2 points in 9 centres and 1 point in another 9 centres. Rest of 11 centres’ indices remained stationary.

The indices of 33 centres are above All-India Index and 45 centres’ indices are below national average.

Year-on-year inflation based on all-items stood at 5.10 per cent for May, 2020 as compared to 5.45 per cent for the previous month and 8.65 per cent during the corresponding month of the previous year. Similarly, Food inflation stood at 5.88 per cent against 6.56 per cent of the previous month and 5.21 per cent during the corresponding month a year ago.

The Labour Bureau, an attached office of the M/o Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of the retail prices of selected items collected from 289 markets spread over 78 industrially important centres in the country. The index is compiled for 78 centres and All-India and is released on the last working day of succeeding month.

Source: PIB

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New Personalised My Stamp On The Theme '' Happy Retirement''

New Personalised My Stamp On The Theme '' Happy Retirement''

New Personalised My Stamp On The Theme '' Happy Retirement''

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Extension of validity period of empanelment of already empanelled Health Care Organizations under CGHS.

Extension of validity period of empanelment of already empanelled Health Care Organizations under CGHS.

Extension of validity period of empanelment of already empanelled Health Care Organizations under CGHS.

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Guidelines for Unlock 2 : MHA Guidelines dtd 29-06-2020

Guidelines for Unlock 2 : MHA Guidelines dtd 29-06-2020

Ministry of Home Affairs

Ministry of Home Affairs (MHA) issues new Guidelines for Unlock 2 

Unlock 2 opens up more activities outside Containment Zones 

Strict enforcement of lockdown in Containment Zones

Posted On: 29 JUN 2020 9:28PM by PIB Delhi

Union Ministry of Home Affairs (MHA) has issued new guidelines for Unlock 2 to open up of more activities in areas outside the Containment Zones. The new guidelines will come into effect from July 1, 2020, the process of phased re-opening of activities has been extended further. The new guidelines, issued today, are based on feedback received from States and UTs, and extensive consultations held with related Central Ministries and Departments. 

As stipulated in the Unlock 1 Order and guidelines issued on 30.05.2020, certain activities, i.e., religious places and places of worship for public; hotels, restaurants and other hospitality services; and shopping malls; have already been permitted from June 8, 2020 outside the Containment Zones. Detailed standard operating procedures (SOPs) have also been issued. 

Salient features of the new guidelines for Unlock 2

• Domestic flights and passenger trains have already been allowed in a limited manner. Their operations will be further expanded in a calibrated manner.
• Night curfew timings are being further relaxed and curfew shall be in force from 10.00 pm to 5.00 am. Further, relaxations in night curfew have been given for seamless operation of industrial units in multiple shifts, movement of persons and goods on National and State Highways, loading and unloading of cargo and movement of persons to their destinations after disembarking from buses, trains and airplanes.
• Shops depending upon their area, can have more than 5 persons at a time. However, they have to maintain adequate physical distance.
• Training institutions of the Central and State Governments will be allowed to function with effect from July 15, 2020.  SOP in this regard will be issued by the Department of Personnel and Training, Government of India.
• After extensive consultation with States and UTs, it has been decided that schools, colleges and coaching institutions will remain closed till July 31, 2020.
• International air travel of passengers has been permitted in a limited manner under the Vande Bharat mission.  Further opening up will take place in a calibrated manner.
• All activities, except the following, shall be permitted outside containment zones: 

1. Metro Rail.
2. Cinema halls, gymnasiums, swimming pools, entertainment parks, theatres, bars, auditoriums, assembly halls and similar places.
3. Social/ political/ sports/ entertainment/ academic/ cultural/ religious functions and other large congregations.

Dates for opening of these will be decided separately, based on the assessment of the situation.

• Lockdown shall continue to be implemented strictly in the Containment Zones till 31 July, 2020. Containment Zones are required to be carefully demarcated by the State/ UT Governments with a view to contain the spread of COVID-19, after taking into consideration the guidelines issued by the Ministry of Health & Family Welfare (MOHFW).  Within the containment zones, strict perimeter control shall be maintained and only essential activities allowed. 
• These Containment Zones will be notified on the websites of the respective District Collectors and by the States/UTs and information will also be shared with MOHFW.
• Activities in the Containment Zones shall be monitored strictly by the State/UT authorities, and the guidelines relating to containment measure in these zones shall be strictly implemented.
• MOHFW will monitor the proper delineation of Containment Zones and implementation of the containment measures.

States to decide on activities outside Containment Zones

• States and UTs, based on their assessment of the situation, may prohibit certain activities outside the Containment zones, or impose such restrictions as deemed necessary. 
• However, there shall be no restriction on inter-State and intra-State movement of persons and goods.  No separate permission/ approval/ e-permit will be required for such movements. 

Night curfew

• Night Curfew shall continue to remain in force, between 10.00 pm and 5 am, except for essential activities and other relaxation given in Unlock 2. 

National Directives for COVID-19 management

• National Directives for COVID-19 management shall continue to be followed throughout the country, with a view to ensure social distancing.  Shops will need to maintain adequate physical distancing among customers. MHA will monitor the effective implementation of National Directives.

Protection for vulnerable persons

• Vulnerable persons, i.e., persons above 65 years of age, persons with co-morbidities, pregnant women, and children below the age of 10 years, are advised to stay at home, except for meeting essential requirements and for health purposes.

Use of Aarogya Setu

• The use of Aarogya Setu mobile application will continue to be encouraged.

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Regarding LDCE Promotion to the Cadre of PS Group B Vacancies

Regarding LDCE Promotion to the Cadre of PS Group B Vacancies

Regarding LDCE Promotion to the Cadre of PS Group B Vacancies 

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Eliminating Supervisors (GL) category for the purpose of membership verification and directing to enroll even Group B cadre HSG II/HSG I Postal wing Supervisors in Group C clerical category - AIAPS Association.News

Eliminating Supervisors (GL) category for the purpose of membership verification and directing to enroll even Group B cadre HSG II/HSG I Postal wing Supervisors in Group C clerical category - AIAPS Association.News

Eliminating Supervisors (GL) category for the purpose of membership verification and directing to enroll even Group B cadre HSG II/HSG I Postal wing Supervisors in Group C clerical category. Case was filed by All India association of Postal Supervisors filed against membership verification process and Hon'ble High court ruled favourable to AIAPS Association.

Honorable High Court, Delhi Bench order dated 25.06.2020 that any action taken by department of posts for membership verification shall be subject to the final outcome of our writ petition.

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94.75 LAKH AePS Transaction During COVID-19 Lockdown

Aadhaar Enabled Payment System (AePS) of IPPB has brought banks to the doorsteps of the villagers and poor.

Since its launch more than 1.17 Crore AePS transactions have been carried out in which 94.75 lakh transactions have taken place during COVID -19 lockdown

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AIAPS Letter to Directorate regarding Submitting reported discrepancies in Final Answer Key used for eveluating IP LDC Exam2019 for reconcilation

AIAPS Letter to Directorate regarding Submitting reported discrepancies in Final Answer Key used for evaluating IP LDC Exam 2019 for reconciliation.

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Implementation of Common Order of the hon’ High Court Madras Bench in Writ Petition 34944 & 33298 of 2016 dated 24.07.2019 and WMP no 28769 & 30156 of 2016 – RTP Case - to all the similarly placed PA/SAs of DOP-- SG FNPO letter to the Member (P).

Implementation of Common Order of the hon’ High Court Madras Bench in Writ Petition 34944 & 33298 of 2016 dated 24.07.2019 and WMP no 28769 & 30156 of 2016 – RTP Case - to all the similarly placed PA/SAs of DOP-- SG FNPO letter to the Member (P).

Implementation of Common Order of the hon’ High Court Madras Bench in Writ Petition 34944 & 33298 of 2016 dated 24.07.2019 and WMP no 28769 & 30156 of 2016 – RTP Case - to all the similarly placed PA/SAs of DOP-- SG FNPO sent request  letter to the Member (P). 

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Extension of Timelines CBDT Notification No. 35/2020 – Taxation and other laws

Extension of Timelines CBDT Notification No. 35/2020 – Taxation and other laws

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 24th June, 2020

TAXATION AND OTHER LAWS

S.O. 2033(E).- In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020) (hereinafter referred to as the Ordinance), the Central Government hereby specifies , for the purposes of the said sub-section (1),-

(i) the 31st day of December, 2020 shall be the end date of the period during which the time limit specified in, or prescribed or notified under, the specified Act falls for the completion or compliance of such action as specified under the said sub-section; and

(ii) the 31st day of March, 2021 shall be the end date to which the time limit for completion or compliance of such action shall stand extended:

Provided that where the specified Act is the Income-tax Act, 1961 and the compliance relates to-

(i) furnishing of return under section 139 thereof, for the assessment year commencing on the –
(a) 1st day of April, 2019, the end date shall be extended to the 31st day of July, 2020;
(b) 1st day of April, 2020, the end date shall be extended to the 30th day of November, 2020;
(ii) delivering of statement of deduction of tax at source under sub-section (2A) of section 200 or statement of collection of tax at source under sub-section (3A) of section 206C thereof for the month of February or March, 2020, or for the quarter ending on the 31st day of March, 2020, as the case may be, the end date shall be extended to the 15th day of July, 2020;
(iii) delivering of statement of deduction of tax at source under sub-section (3) of section 200 or statement of collection of tax at source under proviso to sub-section (3) of section 206C thereof for the month of February or March, 2020, or for the quarter ending on the 31st day of March, 2020, as the case may be, the end date shall be extended to the 31st day of July, 2020;
(iv) furnishing of certificate under section 203 thereof in respect of deduction or payment of tax under section 192 of that Act for the financial year 2019-20, the end date shall be extended to the 15th day of August, 2020;
(v) section 54 or 54GB referred to in item (I) of sub-clause (i) of clause (c) of sub-section (1) of section 3 of the Ordinance or sub-clause (ii) of the said clause, the end date in respect of the time limit for the completion or compliance and the end date for making the said completion or compliance, shall be the 29th day of September, 2020 and the 30th day of September, 2020 respectively;
(vi) any provisions of Chapter VI-A under the heading “B.- Deductions in respect of certain payments” thereof, referred to in item (I) of sub-clause (i) of sub-section (1) of section 3 of the Ordinance, the end date in respect of the time limit for the completion or compliance and the end date for making the said completion or compliance, shall be the 30th day of July, 2020 and the 31st day of July, 2020 respectively; and
(vii) furnishing of report of audit under any provision thereof for the assessment year commencing on the 1st day of April, 2020, the end date shall be extended to the 31st day of October, 2020:

Provided further that the extension of the date as referred to in sub-clause (b) of clause (i) of the first proviso shall not apply to Explanation 1 to section 234A of the Income-tax Act, 1961 in cases where the amount of tax on the total income as reduced by the clauses (i) to (vi) of sub-section (1) of the said section exceeds one lakh rupees :

Provided also that where the specified Act is the Direct Tax Vivad se Vishwas Act, 2020, the 30th day of December, 2020 shall be the end date of the period during which the time limit specified in, or prescribed or notified thereunder falls for the completion or compliance of the action and the 31st day of December, 2020 shall be the end date to which the time limit for completion or compliance of such action shall stand extended.

2. This notification shall come into force from the 30th day of June, 2020.

[Notification No.35 /2020/ F. No. 370142/23/2020-TPL]
NEHA SAHAY, Under Secy. (Tax Policy and Legislation Division)

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Income-tax (13th Amendment) Rules, 2020 – CBDT Notification No 38 of 2020

New Personal Income Tax at reduced rates with no exemption under Section 115BAC of Income Tax Act when opted, only limited allowances will be exempted – Perquisites allowed by Employee are not to considered

Section 115BAC of Income Tax Act when opted, only limited allowances will be exempted as provided below

• Employer’s contribution to pension account (NPS) – Section 80 CCD (2)
• Allowance to meet cost of tour / Travel
• Transport Allowance to Divyang (Differently Abled)
• Conveyance Allowance for Office Duties
• Additional Employee Cost (Section 80JJAA)
• Daily Allowance to meet Daily Charges when working out of the office

Now, Income Tax provide certain additional allowances / perquisites originally exempted under Rule 2BB of Income Tax Rules, which are also exempted when opted for new tax regime under section 115BAC

Additional Allowance exempted now

(a) any allowance granted to meet the cost of travel on tour or on transfer;

(b) any allowance, whether, granted on tour or for the period of journey in connection with transfer, to meet the ordinary daily charges incurred by an employee on account of absence from his normal place of duty;

(c) any allowance granted to meet the expenditure incurred on conveyance in performance of duties of an office or employment of profit :

MINISTRY OF FINANCE

(Department of Revenue)

(CENTRAL BOARD OF DIRECT TAXES)

Notification

New Delhi, the 26th June, 2020

INCOME-TAX

G.S.R. 415(E).- In exercise of the powers conferred by sub-section (2) of section 115BAC read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules,1962, namely:-

1. Short title and commencement: -(1) These rules may be called the Income-tax (13th Amendment) Rules, 2020.

(2) They shall come into force from the 1st day of April, 2021 and shall accordingly apply in relation to the assessment year 2021-22 and subsequent assessment years.

2. In the Income-tax Rules, 1962,-

(a) in rule 2BB, after sub-rule (2), the following sub-rule shall be inserted, namely:-

“(3) Notwithstanding anything contained in sub-rule (1) and (2), an employee, being an assessee, who has exercised option under sub-section (5) of section 115BAC shall be entitled to exemption only in respect of the allowances mentioned in sub-clauses (a) to (c) of sub-rule (1) and at serial no. 11 of the Table below sub-rule (2) to the extent and subject to the conditions, if any, specified therein.”;

(b) in rule 3, in sub-rule (7), in clause (iii), after the proviso, the following proviso shall be inserted, namely:-

“Provided further that the exemption provided in the first proviso in respect of free food and non-alcoholic beverage provided by such employer through paid voucher shall not apply to an employee, being an assessee, who has exercised option under sub-section (5) of section 115BAC.”.

[Notification No. 38/2020/F. No.370142/15/2020-TPL]

GUDRUN NEHAR, Director (Tax Policy and Legislation)

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide number S.O. 969 (E),dated the 26th March, 1962 and last amended by the Income-tax (12th Amendment) Rules, 2020, vide notification number G.S.R. 338 (E) dated 29.5.2020.

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Dispensing with the requirement of BSR Code of Bank from the Pension claim forms.

Dispensing with the requirement of BSR Code of Bank from the Pension claim forms.

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Introduction of Taxable Floating Rate Savings Bonds 2020 – PIB

Ministry of Finance

Introduction of Floating Rate Savings Bonds, 2020 (Taxable)

26 JUN 2020

The Government has notified the new Floating Rate Savings Bonds, 2020 (Taxable)Scheme in place of 7.75 percent Savings (Taxable) Bonds, 2018 Scheme which ceased for subscription from the close of banking business on May 28, 2020. The broad features of the new Floating Rate Savings Bonds, 2020 (Taxable) scheme are given below:

New Floating Rate Savings Bonds, 2020 (Taxable) scheme

	ITEM	DETAILS
1.	Scheme name	Floating Rate Savings Bonds, 2020 (Taxable)
2.	Issuance	To be issued by Reserve Bank India on behalf of the Government of India.
3.	Eligibility	The Bonds may be held by – (i) a person resident in India, – (a) in his individual capacity, or (b) in individual capacity on joint basis, or (c) in individual capacity on any one or survivor basis, or (d) on behalf of a minor as father /mother/ legal guardian (ii) a Hindu Undivided Family. Explanation: For the purpose of this paragraph, the “person resident in India” shall have the same meaning as defined in clause (v) of Section 2 of the Foreign Exchange Management Act 1999(42 of 1999)
4.	Issue price / Denomination / Minimum Subscription	The Bonds will be issued at parat Rs.100/- for a minimum amount of Rs.1000/- (nominal value) and in multiples thereof.
5.	Date of Issue	The Bonds, in the form of Bonds Ledger Account, will be opened (issued) from the date of tender of cash (up to Rs.20,000/- only), or date of realization of cheque /draft /funds.
6.	Maximum limit	There will be no maximum limit for investment in the Bonds.
7.	Forms / Certificate	The Bonds will be issued only in the form of Bond Ledger Account and may be held at the credit of the holder in an account called Bond Ledger Account (BLA). The investors will be issued a Certificate of Holding for the same.
8.	Payment option	Subscription to the Bonds will be in the form of Cash (upto Rs.20,000 only) /drafts / cheques or any electronic mode acceptable to the Receiving Office. Cheques or drafts should be drawn in favour of the Receiving Office and payable at the place where the applications are tendered.
9.	Repayment / Tenor	The Bonds shall be repayable on the expiration of 7 (Seven) years from the date of issue. Premature redemption shall be allowed for specified categories of senior citizens.
10.	Receiving Offices	Applications will be received at the branches of SBI, Nationalised banks and specified private sector banks, either directly or through their agents.
11.	Interest Rate (Floating)	The interest on the bonds is payable semi-annually on 1st Jan and 1st July every year.The coupon on 1st January 2021 shall be paid at 7.15%. The Interest rate for next half-year will be reset every six months, the first reset being on January 01, 2021. There is no option to pay interest on cumulative basis.
12.	Tax treatment	Interest on the Bonds will be taxable under the Income-tax Act, 1961 as amended from time to time and as applicable according to the relevant tax status of the Bonds holder.
13.	Transferability	The Bonds in the form of Bond Ledger Account shall not be transferable except transfer to a nominee(s) /legal heir in case of death of the holder of the bonds
14.	Nomination	A sole holder or all the joint holders of Bonds, being individual/s, may nominate in Form C or as near thereto as may be, one or more persons who shall been titled to the Bonds and the payment there on, in the event of his /their death.
15.	Tradability / Advances	The Bonds shall not be tradable in the secondary market and shall not be eligible as collateral for loans from banks, financial Institutions and Non-Banking Financial Company (NBFC) etc.
16.	Brokerage / Commission	Brokerage at the rate of 0.5% of the amount mobilized will be paid to the Receiving Offices and they shall share at least 50% of the brokerage so received with brokers/ sub brokers registered with them.

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Pay PLI Premium through Debit / Credit Card / Net Banking / Wallet - Paytm,Payzapp, PhonePe, JioMoney, Ola Money & UPI

PLI - Major Update to Customer Portal

PLI Customer Portal is now upgraded with the more Digitak ways to pay the Premium;

Payment Gateway is changed from WireCard to PayU.

Payment Options are : 

1. Debit Card

2. Credit Card

3. Netbanking

4. Wallet - Paytm, Payzapp, PhonePe, JioMoney, OlaMoney

5. UPI

PLI System Roadmap for 2020

➖ Premium Collection from Various Channel including (PLI - CBS - CSI Integeration)

➖ Direct Debit from POSB Account

➖  Direct Debit from Non-POSB Account using NACH

➖ Premium payment using India Post ATM

➖  Incentive Calculation and Payment to Agent's Bank Account 

Most Important

➖ Claim amount transfer to Customer / Nominee Bank Account using EFT module

System Testing is going to start next week

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