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Comments/suggestions invited from the members of public on the Report of the Committee on Digital Payments within 15 days of hosting the Report on the website
After approval of the Cabinet, the Guidelines for the promotion of payments through cards and digital means were issued on February 29, 2016. Among the steps to be taken was the constitution of the Committee by the Department of Economic Affairs (DEA), Ministry of Finance with key industry stakeholders, RBI and concerned Government Departments to review medium term measures necessary to promote the digital payment system in the Country. Accordingly, a Committee was constituted under the Chairmanship of Shri Ratan P. Watal, Former Finance Secretary and Principal Advisor, NITI Ayog on August 23, 2016. The Committee has submitted its Report, which is uploaded on the website of the Ministry of Finance at http://finmin.nic.in.
Comments/suggestions from the members of public are requested within 15 days of hosting the Report on the website of the Department of Economic Affairs, Ministry of Finance. Decision on the Report will be taken after considering the comments/suggestions received on the Report.
Feedback/comments on the said Report may be sent to the Coin and Currency Division of the Department of Economic Affairs, Ministry of Finance at email@example.com within 15 days from the date of uploading of the said Report.
The Report of the Committee is also attached herewith for information and reference of public at large.
Press Information Bureau Government of India Ministry of Women and Child Development
28-December-2016 14:43 IST
Fresh guidelines on Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 issued by DoPT
WCD Ministry will hold consultations on a regular basis on issues pertaining to the Act: Smt Maneka Sanjay Gandhi
The Minister for Women and Child Development, Smt. Maneka Sanjay Gandhi, had held a review meeting on implementation of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 on 26.10.2016. During the meeting, some cases of sexual harassment pending with certain ministries/ departments were also examined. On the basis of the discussions, it was decided that DoPT will issue fresh instructions so that some of the issues can be suitably addressed.
On the basis of the decisions taken, DoPT has issued fresh guidelines regarding Sexual Harassment of Women at Workplace vide their Office Memorandum dated 22.12.2016. According to the O.M., following have to be observed by the ministries/departments and Internal Complaints Committees:
(i) Brief details of the implementation of the Sexual Harassment of Women at Workplace Act including the number of cases received and disposed shall form a part of the Annual Report of all ministries/ departments and authorities there under.
(ii) The enquiry of cases must be completed within 30 days and under any circumstances within 90 days from the date of the complaint.
(iii) The ministries/ departments etc. have to keep a watch on the complainant so as to ensure that she is not victimized in any manner because of her having filed the complaint. The aggrieved woman has been given further option to send representation to the Secretary or head of the organization in case she feels that she is being victimized because of her complaint. The concerned authority will be required to dispose of this complaint within 15 days.
(iv) All ministries/ departments etc. are now required to submit a monthly progress report to the Ministry of Women and Child Development so that the progress can be monitored.
Smt. Maneka Sanjay Gandhi, while appreciating DoPT for having quickly issued the guidelines, stated that the WCD Ministry shall continue to work on issues related to sexual harassment of women at workplace and she will be holding further consultations to see if there are any other areas which need to be looked into. The WCD Ministry will be coming out with a comprehensive plan to train the heads of Internal Complaint Committee under the Central Government Ministries/ Departments, the Minister added.
With your company's accounts department knocking on your door to submit income-tax saving proofs, it's time for you to gather all the relevant papers in one place.
Since April 2016, the department would have been computing taxes on your salary based on the proposed investment declaration submitted by you earlier.
The taxes deducted at source (TDS) are covered under Section 192 of the Income-tax Act, 1961 making it the obligation of the employer to withhold taxes at the time of payment of salaries.
Once the actual proof is submitted, the accounts department will compute the taxes based on the proofs of the actual investments made by you. And for that you will have to furnish the documentary evidence of having actually made the investments as per the investment declaration made earlier You can make tax-saving investments different from those declared by you earlier but the deduction from taxable income will be given only on the basis of the actuals submitted and not on the basis of the proposed declaration made earlier.
The last date for such submissions varies, but most organisations would expect you to submit them by March 10, 2017. However, employers start asking for them in January (in this case Jan 2017) itself as they would like to start deducting tax at source on the basis of tax calculations based on actual investments from January.. This will also enable the employee to finalise tax adjustments, if any, in the balance months of the current financial year (2016-17).If taxes have been deducted in excess or less, accordingly, they will get deducted in the last 3 months of the FY. Do not wait till March as then there wont be any scope for finalising and one could see a huge tax burden in that month and less of take-home pay.
The documents need not be attached or sent to Income-tax Department at the time of tax filing. Instead, it's the employer who has to receive them from employees and deduct tax accordingly.
At times it is found that after taking into account the tax saving investments/expenditures, the tax already deducted by one's employer is in excess and cannot be adjusted in subsequent months. In such cases the excess TDS will reflect in the Form 16 and the refund will have to be claimed by you from the I-T Department by filing the appropriate income tax return.
The important tax saving investment/expenditure proofs include
Investments - Under Section 80C
When it comes to investments such as Equity Linked Savings Schemes (ELSS) of mutual funds (MFs), life insurance, submit the ELSS fund statement, premium paid receipts respectively. For Public Provident Fund (PPF), if it is maintained with a bank or a post office, submit photocopies of the passbook showing all the transactions and the account details.In case of Sukanya Samriddhi Scheme and 5-year tax saving fixed deposit, the deposit receipt or a certificate from the bank has to be submitted to the employer.
In case of tuition fees, submit photocopies of the school receipt carrying the schools' seal and signature of the receiver.
First-time home buyers
For the current financial year, Section 80EE allows tax benefits for first-time home buyers under which the benefit can be claimed on home loan interest. This deduction is over and above the Rs 2 lakh limit under Section 24 of the Income-tax Act. Hard copies of all the relevant documents have to be submitted.
House Rent Allowance Exemption
For those who claim HRA relief, the Permanent Account Number (PAN) of the landlord is mandatory. This condition is not applicable for those whose rent payment is less than or equal to Rs 1 lakh per annum, i.e., Rs 8,333 per month.
A copy of the lease rent agreement or declaration by the landlord in a prescribed format is to be submitted. Further, ownership proof of landlord of rented premises, which can be house tax receipt or the latest electricity bill or share certificate in case of co-operative society houses have to be submitted. The original rent receipts for the period April 2016 till date have to be provided.
Housing loan repayment (principal)
The certificate from a financial institution specifying the principal paid during April 2016 to March 2017 needs to be submitted. Ask the institution to mention the provisional amount for the last 2-3 months of the current financial year as equated monthly instalments (EMIs) would still be pending.
Loss from housing property - interest on housing loan - self occupied
The interest certificate from the bank or financial institution, specifying the break-up of interest and the principal amount for FY 2016-17 would be required. Possession/construction completion certificate are a must for availing the relief by some employers. Further, the date of loan taken and the date of possession are mandatory to avail the benefit.
Loss from housing property - interest on housing loan - let out on rent
If the house for which loan has been availed is let out, the same should be submitted with certificate from a financial institution specifying principal and interest paid during April 2016 to March 2017 (FY 2016-17).
New Pension Scheme (NPS)
There is no need to submit proof of actual Investments in case the investments in NPS is through Corporate Model or Employee Model as the same are recovered and deposited by company in your PRAN (Permanent Retirement Account Number) account. However, if you have opted for investment of Rs 50,000 under NPS on your own, i.e., outside salary, then submission of copies of PRAN card, NPS Transaction Statement for Tier 1 Account is necessary.
Call up the insurer and ask him to send the statement for tax purpose under Section 80D. The premium should not be paid by cash and should be paid by cheque or digital transfer from the bank account.
It's better to get a confirmation on the actual requirement from your accounts department. Not all will be asking for all the above mentioned documents, while few others might have their own set of requirements. The documents, if not submitted within time, may make you end up with excess TDS which would have to be claimed as refund. Also, as a precaution, retain the original copies for personal income-tax assessment.