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================ Blog maintained by : P. Radhamohan Nair, Private Secretary to Post Master General, (Retired) Northern Region, Calicut, Kerala Circle=================

Friday, December 16, 2016

Seniority list of Stenographer Grade -1 as 01.01.2011

Seniority list of Stenographer Grade -1 as 01.01.2011

Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency

Press Information Bureau 
Government of India
Ministry of Finance

14-December-2016 13:17 IST

Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency

Under the existing provisions of Section 139(5) of the Income-tax Act, 1961 (‘Act’), Revised Return can only be filed if any person, who has filed a return under Section 139(1) of the Act or in response to notice u/s 142(1), discovers any omission or any wrong statement therein. Post demonetization of the currency on 8th November, 2016, some taxpayers may misuse this provision to revise the return-of-income filed by them for the earlier assessment year, for manipulating the figures of income, cash-in-hand, profits etc. with an intention to show the current year’s undisclosed income (including the unaccounted income held in the form of demonetized currency in current year) in the earlier return. 

It is hereby clarified that the provision to file a revised return of income u/s 139(5) of the Act has been stipulated for revising any omission or wrong statement made in the original return of income and not for resorting to make changes in the income initially declared so as to drastically alter the form, substance and quantum of the earlier disclosed income. 

It is brought to the notice of tax payers that any instance coming to the notice of Income-tax Department which reflects manipulation in the amount of income, cash-in-hand, profits etc. and fudging of accounts may necessitate scrutiny of such cases so as to ascertain the correct income of the year and may also attract penalty/prosecution in appropriate cases as per provision of law.

Proforma of Immovable Property Return

Avail LTC for the block 2014-2015 before it finally expires by December 2016

Home Town Leave Travel Concession applicable for the year 2014-2015 can be either utilised as Home Town LTC or as All India LTC on or before 31st December 2016.

Have you planned for any Home Town Trip or Leave Travel by availing LTC and Encashment of Leave on LTC before this year expires ? Then Carry over provision available under Rule 10 of LTC Rules would be very handy to you.

Rule 10 of LTC provides that A Government servant who is unable to avail of the leave travel concession within a particular block of two years or four years may avail of the same within the first year of the next block of two years or four years.

The Current 4 year LTC Block is 2014-2017 and Two Year Block Year is 2016-2017. However, the home town LTC applicable for the Two year block year of 2014-2015, can be carried over and utilised by Central Government Employees either as home town LTC or as All India before it finally expires on 31st December 2016.

By Carrying Over of LTC for the block year 2014-2015, employees who intend to travel on LTC before 31st December 2016, can avail one more Home Town LTC or All India LTC (if they have converted the home town LTC to All India LTC in the previous 2 year block) before December 2017.

Central Govt Employees, don't need to file assets declaration in 2016

New Delhi: Central government employees need not to file a declaration of their assets and liabilities this year because the new rules under the Lokpal and Lokayuktas (Amendment) Act, 2016 are not ready yet.

So, the extension of deadline for submission of declaration of assets and liabilities till December 31 has become fruitless.

“The extension was given under the old Act of 2014, which is now redundant…We are in the process of drafting the final proforma which only will be valid,” an official in Ministry of Personnel said.

The Lokpal and Lokayuktas (Amendment) Act, 2016 says, “On and from date of commencement of this Act every public servant shall make a declaration of his assets and liabilities in such form and manner as may be prescribed.” Since the filing rules have not been firmed up, there is no requirement for filing of declarations by central government public servants, he added.

The government had extended the deadline of filing assets declaration for the fifth time since the Act came into force.

The Department of Personnel and Training (DoPT) is consulting the law ministry over the final draft of the form for declaration of assets by public servants, so, no fresh deadline fixed yet.

The public servants will now not be required to provide the details of assets of their spouses and other dependents, according to the amendment of the Act, 2016.