0 Validity of Cheques reduced from 6 months to 3 months wef 01.04.2012

Bankers' cheques and other monetary instruments will have only a three-month validity beginning April 1, 2012, instead of the existing six months, a Reserve Bank of India (RBI) communique has said.
The change is a consequence of an RBI notification on November 4, 2011.

Cheques, drafts and pay orders will have a validity for three months from the date they've been drawn. Those having cheques and other monetary instruments with six-month validity before April 1 will have to remit them before this date, when the expiry of the validity will be reduced to three months.
After April 1, these instruments will be valid subject to their adherence to the new 3-month rule.

Source: Times of India

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0 Union cabinet approved release of 7% DA from 1.1.2012

The Union Cabinet today gave its approval to release an additional instalment of Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners w.e.f. 1.1.2012 representing an increase of 7% over the existing rate of 58% of the Basic Pay/Pension, to compensate for price rise.

The increase is in accordance with the accepted formula, which is based on the recommendations of the 6th Central Pay Commission. The combined impact on the exchequer on account of both dearness allowance and dearness relief would be of the order of Rs.7474.53 crore per annum and Rs.8720.32 crore in the financial year 2012-13 (i.e. for a period of 14 months from January, 2012 to February, 2013).

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0 Ministry of finance issued orders granting one Increment on 1.1.2006 to those Employees whose date of increment was between February and June 2006

Ministry of finance issued orders granting one time measure Increment on 01.01.2006 for all officials whose Increment fell due between February and June 2006. All Govt Employees as on duty on 1.1.2006 and whose date of increment was between February and June 2006 would be now given an increment in the pre revised scale of pay as "one time measure" and then again another increment on 1.7.2006. All such officials whose pay will be refixed wef 1.1.2006 will get arrears and officials who retired after 1.1.2006 will get their pension revised with all consequential retirement benifits.

Click here to view the original order of Ministry of Finance.

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0 Government revises GPF Interest Rate to 8.6% from 1.12.2011

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO. 5(1)-B(PD)/2011

Government of India

Ministry of Finance

(Department of Economic Affairs)

New Delhi, the 19th March, 2012

RESOLUTION

It is announced for general information that during the year 2011-2012, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight per cent) for the period from 1.4.2011 to 30.11.2011  and 8.6% (eight point six percent) with effect from 1.12.2011.

The funds concerned are:—

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0 Postal services including Speed Post will not attract service tax - Proposed in Union Budget 2012-13

While proposing  increase of  service tax from the present 10% to 12% in the Union Budget 2012-13, the Finance Minister has proposed exemption of some services from levying of service Tax. The details of such services exempted from levying of  12% increased service Tax are included in the Negative list of Services. At present, the service tax is levied on the basis of a positive list, meaning that the tax is levied on the specified services only. 

According to the negative list, postal services, including Speed Post provided by the Department of Post, will not attract service tax. 

Other important services, which will not attract the tax, include funeral, burial, mutate services and transport of deceased, Metered taxis, entry to amusement facilities, second-class rail travel,  betting, gambling, lottery, travel by radio taxis and auto rickshaw, Distribution of electricity, trading of goods, agriculture extension and support services, road tolls, renting of residential properties and services relating to bank deposits and sanction of loans.

As regards education, the service tax will not be levied on school, university education and approved vocational courses.The coaching classes and training institutions, however, will continue to be subject to the service tax.As regards sale and purchase of foreign currency, it has been clarified that such activity among the banks and dealers will be kept out of the service tax net. However, by implication, the sale of foreign currency by dealers to individuals will attract the levy.
 

In order to bring as many services as possible in the net, the government has come out with a wide definition of service. With some exception, it has been defined service as “any activity carried out by a person for consideration.''. In addition to the existing services, which are subject to the service tax, the negative list clarified that the tax will be levied on travel by first class and in air-conditioned rail coaches, transport of goods by a transportation and courier agencies.

The date for operation of the negative list, according to the budget papers, will be notified later.

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0 Payment of Speed Post Delivery incentive to postmen

Copy of Business Development & Marketing Directorate letter No. 57-01/2005-BDD&MD dated 12^th March, 2012 is reproduced below.

This is regarding payment of Speed Post Delivery incentive to postmen in the Circles.

2. It has been brought to the notice of this office that there is huge Pendency in the payment of Speed Post Delivery incentive bills pertaining to Postmen in Circles. In this regard, a kind reference is invited to BD&M Directorate letter No. 57-01/2005-BDD dated 17.06.2005 wherein clear instructions/clarifications have been reiterated to effect payment of incentive to delivery staff.

3. In view of the above, it is requested that immediate action may be taken to effect all the payments of speed post delivery incentive bills pertaining to postmen before 31^st March, 2012 after following existing instructions strictly.

4. A compliance report in this regard is expected on or before 15.04.2012.

Sd/-

(Smit Kumar)

General Manager (SP&M)

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0 Rule -38 Transfers in PA cadre of Vijayawada Region

The following transfers under Rule-38 of Postal Manual Volume-IV  in the cadre of Postal Assistants (under DR quota) are ordered by the Competent Authority with immediate effect vide PMG Vijayawada memo no No.ST-I/Rule-38/PA/DR(S)/2011    dated 16-03-2012.

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0 2012-13 వార్షిక బడ్జెట్‌లోని ముఖ్యాంశాలు

కేంద్ర విత్తమంత్రి ప్రణబ్ ముఖర్జీ శుక్రవారం 2012-13 సంవత్సరానికి గాను వార్షిక బడ్జెట్‌ను ప్రవేశపెట్టారు. ఇందులో 2012-13 బడ్జెట్ మొత్తం వ్యయం అంచనారూ.14,19,925 కోట్లుగా ప్రకటించారు. ఇందులో 2012-13 ప్రణాళిక వ్యయంగా రూ.5,21,025 కోట్లు, ప్రణాళికేతర వ్యయం రూ.9,69,900 కోట్లు, 2012-13 సంవత్సరానికి ద్రవ్యలోటు అంచనా 1,85,752 కోట్లుగా అంచనా వేశారు. అయితే పన్ను వసూళ్లలో రూ.32వేల కోట్ల తగ్గుదల కనిపించనుంది. ఈ బడ్జెట్‌లో ద్రవ్యలోటు 5.9 శాతంగా ఉండగా, 2011-12 వృద్ధి రేటు 6.9 శాతం నమోదైనట్టు ఆయన తెలిపారు. ఈ బడ్జెట్‌లో కీలక రంగాలకు కేటాయించిన వివరాలు ఇలా ఉన్నాయి.

* రక్షణ శాఖకు రూ.1,93,407 కోట్లు
* ఆక్వా రంగానికి రూ.5000 కోట్లు
* చేనేత రుణ మాఫీ రూ.3,884 కోట్లు
* బలహీన వర్గాలకు రూ.8,400 కోట్లు
* ఏఐడిపి కార్యక్రమానికి రూ.14 వేల కోట్లు
* మధ్యాహ్న భోజనానికి రూ.11,930 కోట్లు
* సర్వ శిక్షా అభియాన్‌కు రూ.25,555 కోట్లు
* హరిత విప్లవ పథకానికి రూ.1000 కోట్లు
* విద్యుత్ రంగానికి రూ.10 వేల కోట్లు
* కృషి వికాస్ యోజనకు రూ.7860 కోట్లు
* దేశంలో కొత్తగా 7 మెడికల్ కాలేజీలు
* తాగునీరు, పారిశుద్ధ్యం రంగానికి రూ.14 వేల కోట్లు
* తక్కువ ఖర్చుతో ఇళ్ల నిర్మాణానికి అనుమతి
* ప్రధానమంత్రి సడక్ యోజనకు రూ.24 వేల కోట్లు
* చిన్న, మధ్య తరహా పరిశ్రమల కోసం రూ.5 వేల కోట్లు
* జాతీయ గ్రామీణ ఆరోగ్య మిషన్‌కు రూ.20,822 కోట్లు
* వెనుక బడిన ప్రాంతాల అభివృద్ధికి రూ.12,040 కోట్లు
* నీటి పారుదల రంగం బలోపేతానికి రూ.300 కోట్లు
* వ్యవసాయ రుణ లక్ష్యం రూ.5.75 లక్షల కోట్లు
* కేరళ వ్యవసాయ విద్యాలయానికి రూ.100 కోట్లు
* ఆనంద్ రూరల్ మేనేజ్ మెంట్ సంస్థకు 25 వేల కోట్లు
* నేషనల్ స్కిల్ డెవలప్‌మెంట్ కార్పోరేషన్ కు రూ.1000 కోట్లు
* హైదరాబాద్ ఎన్‌జి.రంగా వ్యవసాయ వర్సిటీకి రూ.వంద కోట్ల నిధి
* పరిశ్రమలకు పన్ను మినహాయింపు కోసం టర్నోవర్ రూ.కోటికి పెంపు
* ఎల్‌సిడి, ఎల్‌ఈడి దిగుమతి సుంకం తగ్గింపు, ధరలు తగ్గే అవకాశం
* వితంతు పింఛన్లు రూ.200 నుంచి రూ.300కు పెంపు
* నాబార్డ్, ఇతర వ్యవసాయ బ్యాంకులకు రూ.15,888 కోట్లు
* 1000 మంది జనాభా ఉన్న పల్లెలకు కూడా స్వాభిమాన్ పథకం
* గుంటూరు, ప్రకాశం జిల్లాలో హ్యాండ్లూమ్ క్లస్టర్ల ఏర్పాటు
* రైతులకు స్వల్పకాలిక రుణాలకై నాబార్డ్ ద్వారా రూ.10 వేల కోట్లు
* కుటుంబ లబ్ధి పథకం కింద రూ.10 వేల నుండి రూ.20 వేలకు పెంపు
* 12వ ప్రణాలికలో పారిశ్రామిక మౌలిక వసతుల కోసం రూ.50 లక్షల కోట్లు
* జాతీయ రహదారుల సంస్థకు బాండ్ల ద్వారా 10 వేల కోట్లు సమకూరుస్తాం
* కొత్తగా రాజీవ్ గాంధీ ఈక్విటీ స్కీం, రూ.50 వేలు ఆదాయ పన్ను రాయితీ
* జాతీయ రహదారుల అభివృద్ధి పథకంలో 8,800 కి.మీ. జాతీయ రహదారులు.
* మార్కెట్ ధరకే ఎల్ పీజీ గ్యాస్ అమ్మకం, తొలిదశలో మైసూర్ లో అమలు.

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0 Income Tax exemption limit raised to Rs 2 lakh.

The exemption limit for the general category of individual taxpayers has been enhanced to Rs. 2,00,000 from Rs. 1,80,000 in the General Budget 2012-13, presented by the Union Finance Minister Shri Pranab Mukherjee in the LokSabha here today. This measure will provide tax relief uptoRs. 2,000 to every taxpayer in this category.

 The Finance Minister, Shri Mukherjee introduced the DTC (Direct Taxes Code) rates for personal income tax, marking progress in the direction of movement towards DTC and GST (Goods and Services Tax).

                It has also been proposed to raise the upper limit of 20 per cent tax slab from Rs. 8 lakh to Rs. 10 lakh. The proposed personal income tax slabs are:

Income uptoRs. 2 lakh	Nil
Income above Rs. 2 lakh and uptoRs. 5 lakh	10 per cent
Income above Rs. 5 lakh and upto Rs.10 lakh	20 per cent
Income above Rs. 10 lakh	30 per cent

                In another relief to the individual taxpayers, a deduction of uptoRs. 10,000 has been proposed for interest from savings bank accounts. This would help a large number of small taxpayers with salary incomes uptoRs. 5 lakh and interest from savings bank accounts uptoRs. 10,000 as they would not be required to file income tax returns.

                It has also been proposed to allow deduction of Rs. 5,000 for preventive health check up.

                For senior citizens not having income from business, it has been proposed to exempt them from payment of advance tax.

Source : PIB

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0 Surplus Qualified LGO Candidates - Allotment of Divisions

 Circle Office, Hyderabad has issued allotments to the following surplus qualified candidates of LGO Examination held on 16-10-2011 vide Memo.No.RE/2-2/2011 dated 15-03-2012.

                                   .

Sl.No.	Name of the candidate S/Shri	Division to which belongs.	Division to which allotted.
1.	G.N. Koti Reddy	Guntur	Narasaraopet
2.	S.V. Ramana	Vizianagaram	Parvathipuram
3.	Shaik Chand Basha	Kurnool	Wanaparthy
4.	A. Sanjeeva Reddy	Guntur	Narasaraopet
5.	G. Yadagiri	Nalgonda	Hyderabad GPO
6.	U. Gajendra Reddy	Kurnool	Wanaparthy
7.	Moka Venkatesulu	Kurnool	Hyderabad GPO
8.	G. Bose Babu	Gudivada	Narasaraopet
9.	K. Satyanarayana	Eluru	Tadepalligudem
10.	H. Gareeb Basha	Kurnool	Mahaboobnagar
11.	B. Satyanarayana	Eluru	Rajahmundry
12.	N.S. Nagamalleswara Rao	Guntur	Suryapet
13.	I. Srinivas	Adilabad	Karimnagar
14.	M. Satyam	Pedapalli	Karimnagar
15.	V. Raghupathi	Pedapalli	Hyderabad GPO
16.	K.V.S.R.S. Murthy	Bhimavaram	Rajahmundry
17.	P. Baby Padmaja	Tenali	Vijayawada
18.	B. Govardhana Reddy	Warangal	Suryapet
19.	K. Subba Rayudu	Cadapa	Nellore
20.	B. Abdul Gani	Ananthapur	Secunderabad
21.	N. Krishna Murthy	Bhimavaram	Kakinada
22.	S.V.H. Bapanna Sastry	Bhimavaram	Suryapet
23.	K. Penchalaiah	Gudur	Sangareddy
24.	S. Pandurangaiah	Chittoor	Sangareddy
25.	P. Lakshminarayana	Visakhapatnam	Anakapalli
26.	G. Narayanappa  8375568M	Chittoor	Medak
PART-B (Physically Handicapped)
1.	B. Chandramohan	Hanamakonda	Hyderabad City
2.	Shaik Shabjal	Visakhapatnam	Srikakulam

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