Archive for December, 2009

Indian Railways Vision 2020 & White Paper on Indian Railways

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Railwaymen’s (Trackman) wards will be employed in Railway on Retirement: AIRF

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No.AIRF/415                  Dated: December 18, 2009

The General Secretaries,
All Affiliated Unions,

Dear Coms.,

Sub: Safety Related Retirement Scheme of Trackman

           Today Hon’ble Minister for Railways called me and told that she has cleared the scheme of the Safety Related Retirement Scheme for those Trackman who want to take Voluntary Retirement and get their wards employed in the Railways.
           The conditions and other things will be processed by the Railway Board.
I hope, orders to this effect will be issued shortly.

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TAX BENEFIT ON HRA AND HOME LOAN -AVAILABLE OR NOT?

 

HRA – allowance is one of the components of salary package, which is normally offered to employees by their employers to meet the higher cost of renting a home. Tax exemption under Income Tax Act for HRA is allowed to salaried persons who are occupying a rented accommodation. It is being regulated by 2A of Income Tax Rules, 1962 and Section 10(13A) of the Income Tax Act, 1961. Accordingly, least of the following three options will be exempt from tax

  • [a.) 50% of the basic salary and DA, where the residential house is situated at Mumbai, Kolkata, Delhi or Chennai and an amount equal to 40% of above salary where residential house is situated in any other place. 
  • [b.] HRA actually received by the employee in respect of the period during which rented accommodation is occupied by the employee during the financial year
  • [c.] the excess of rent paid over 10% of the salary. 

Some times, salaried persons who avail home loan for acquisition or construction of residential house properties but could not stay in such properties owing to employment or other reasons and they stay in rented houses. In such circumstance, when they are receiving a HRA – allowance from their employer, a question often arises

whether they can get exemption of HRA under section 10(13A) of the Act?, based on the rent actually paid by them as well as the interest payable on the housing loan taken by them towards acquisition or construction of a property.

To avail HRA benefit,

  • salaried employee who is in receipt of HRA from his employer
  • should be actually paying house rent for the rented premises which he has occupied and
  • such rented premises must not owned by him. 

It is evident from the above section the exemption of HRA is available to an assessee so long as he occupies the rented premises which is not owned by him. At the same time, the assessee is not barred from claiming exemption under section 10(13A) read with rule 2A, because he be the owner of any other house property, which was acquired through housing loan. It is to be noted that provisions of deduction of interest on borrowed capital for the acquisition or construction of house property and exemption of house rent allowance are two different issues under the Act, as one would not influence other. The benefits accrue on account of availing home loan are interest payments which is exempted under section 24(b) and the principal repayment is exempted under section 80C of the Income Tax Act. Conversely, HRA benefit can also be availed by the assessee on fulfillment of certain circumstances depicted above.

Courtesy: http://www.simpletaxindia.org

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Barcelona’s first driverless metro line enters service

 

Joaquím Nadal, Núria Parlón and José Montilla tour Line 9 during the inauguration of the first section on December 13.

SPAIN: On December 13 José Montilla, President of the Generalitat of Catalunya, inaugurated the first five stations of metro Line 9 between Can Zam and Can Peixauet.
He was accompanied by the Minister of Land Planning & Public Works, Joaquím Nadal, the Mayor of Santa Coloma de Gramenet, Núria Parlón, Vice-President Jose-Lluís Carod-Rovira, Minister of the Interior, Joan Saura, and Mayor of Barcelona Jordi Hereu.
Following a tour of Can Zam station, the VIPs rode the first train to Can Peixauet. Speaking at the inauguration, Parlón described the arrival of the metro in Santa Coloma as the start of a new era for the municipality, whilst Montilla described the fully-automatic line as ‘the best metro service in our country and one of the most advanced in Europe’.
Following the celebrations, Line 9 was opened to the public at 15.00. Official estimates suggest that 28 000 people had enjoyed a ride by the time it closed at 22.00. The 4 km section of Line 9 entered commercial service on December 14, with trains initially running at 6 min intervals between 06.00 and 22.00. Interchange with Line 1 is provided at Fondo.
Owned by Catalunya’s rail infrastructure authority Ifercat, the line is operated by TMB from its new control centre at La Sagrera. A fleet of five-car Metropolis trains is being supplied by Alstom whilst a consortium of Siemens and Dimetronic is providing the CBTC signalling.
The next section of Line 9 between Gorg and Sagrera is expected to enter service in the second quarter of 2010. Once completed in 2014, the driverless line will be 47·8 km long with 52 stations.

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Fixation of pay in case of employees who seek transfer to a lower post under FR 15(a) – clarification regarding

F.No. 13/9/2009-Estt(Pay-I)
Government of India
Ministry of Personnel, Public Grievances and Pensions
Department of Personnel & Training
Estt(Pay-I) Section

 

North Block,
New Delhi, dated 11th October, 2009

Subject: Fixation of pay in case of employees who seek transfer to a lower post under FR 15(a) – clarification regarding.

1. The undersigned is directed to refer to instructions issued vide this Department’s OM NO. 16/6/2001-Estt(Pay-I) dated 14.2.2006 on the above subject. It was clarified therein that on transfer to the lower post/scale under FR 15(a), the pay of a Government servant holding a post on regular basis will be fixed at a stage equal to the pay drawn by him in the higher grade. If no such stage is available, the pay will be fixed at the stage next below the pay drawn by him in the higher post and the difference may be granted as personal pay to be absorbed in future increments. If the maximum of the pay scale of the lower post is less than the pay drawn by him in the higher post, his pay may be restricted to the maximum under FR 22(a)(a)(3).

2. Consequent upon implementation of the revised pay structure comprising grade pays and running Pay Bands, w.e.f. 1.1.2006 in cases of appointment of Government servants to posts carrying lower Grade Pay under FR 15(a) on their own request, the pay in the pay band of the Government servant will be fixed at a stage equal to the pay in the pay band drawn by him prior to his appointment against the lower post. However, he will be granted grade pay of lower post. Further, in all cases, he will continue to draw his increments based on his pay in the pay band +grade pay (lower).

3. Where transfer to a lower post is made subject to certain terms and conditions then the pay may be fixed according to such terms and conditions.

4. In so far as persons serving in the Indian Audit & Accounts Department are concerned, these orders issue after consultation with the Comptroller & Auditor General of India.

5. this orders takes effects from 01.01.2006

–sd–
(B.K. Mukhopadhyay)
Director (Pay)

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Demand of AIRF to ease out the procedures of medical re-imbursement bills has been accepted

Easing of Medical Re-imbursement

Demand of AIRF to ease out the procedures of medical re-imbursement bills has been accepted.

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Senior Subordinates will soon get grade pay of Rs. 4800 in lieu of Rs. 4600 —Com. Shiv Gopal Mishra

Senior Subordinates will soon get grade pay of Rs. 4800 in lieu of Rs. 4600. Com. Shiv Gopal Mishra has told that case is at present lying with Finance Commissioner & letter is expected to be out in near future.

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