Tuesday, January 11, 2011

Child Care leave More Clarifications

Now following clarifications based on doubts raised from various quarters have been issued by DOPT.
1. Whether Earned Leave availed for any purpose can be converted into Child Care Leave? How should applications where the purpose of availing leave has been indicated as 'Urgent Work' but the applicant claims to have utilized the leave for taking care of the needs of the child, be treated?
Ans: Child Care Leave is sanctioned to women employees having minor children, for rearing or for looking after their needs like examination, sickness etc. Hence Earned Leave availed specifically for this purpose only should be converted.
2. Whether all Earned Leave availed irrespective of number of days i.e.less than 15 days, and number of spells can be converted? In cases where the CCL spills over to the next year (for example 30 days CCL from 27thDecember), whether the Leave should be treated as one spell or two spells'?
Ans: No. As the instructions contained in the OM dated 7.9.2010 has been given retrospective effect, all the conditions specified in the OM would have to be fulfilled for conversion of the Earned Leave into Child CareLeave. In cases where the leave spills over to the next year, it may be treated as one spell against the year in which the leave commences.
3. Whether those who have availcd Child care leave for more than 3 spells with less than 15 days can avail further Child Care Leave for the remaining period of the current year?
Ans: No. As per the OM of even number dated 7.9.2010, Child Care Leave can not be granted in more than 3 spells. Hence CCL may not be allowed for more than 3 times irrespective of the number of day or times Child Care Leave has been availed earlier. Past cases may not be reopened.
4. Whether LTC can be availed during Child Care Leave?
Ans: LTC cannot be availed during Child Care Lcave as Child Care Leave is granted for the specific purpose of taking care of a minor child for rearing or for looking after any other needs of the child during examination, sickness etc.

Thursday, January 6, 2011

Income Tax for the Assessment Year 2011-12

In case of individual (other than II and III below) and HUF


Income Level
Income Tax Rate
i.
Where the total income does not exceed Rs.1,60,000/-.
NIL
ii.
Where the total income exceeds Rs.1,60,000/- but does not exceed Rs.5,00,000/-.
10% of amount by which the total income exceeds Rs. 1,60,000/-
iii.
Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.8,00,000/-.
Rs. 34,000/- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv.
Where the total income exceeds Rs.8,00,000/-.
Rs. 94,000/- + 30% of the amount by which the total income exceeds Rs.8,00,000/-.

II. In case of individual being a woman resident in India and below the age of 65 years at any time during the previous year:-

Income Level
Income Tax Rate
i.
Where the total income does not exceed Rs.1,90,000/-.
NIL
ii.
Where total income exceeds Rs.1,90,000/- but does not exceed Rs.5,00,000/-.
10% of the amount by which the total income exceeds Rs.1,90,000/-.
iii.
Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.8,00,000/-.
Rs. 31,000- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv.
Where the total income exceeds Rs.8,00,000/-
Rs.91,000/- + 30% of the amount by which the total income exceeds Rs.8,00,000/-.
III. In case of an individual resident who is of the age of 65 years or more at any time
during the previous year:-

Income Level
Income Tax Rate
i.
Where the total income does not exceed Rs.2,40,000/-.
NIL
ii.
Where the total income exceeds Rs.2,40,000/- but does not exceed Rs.5,00,000/-
10% of the amount by which the total income exceeds Rs.2,40,000/-.
iii.
Where the total income exceeds Rs.5,00,000/- but does not exceed Rs.8,00,000/-
Rs.26,000/- + 20% of the amount by which the total income exceeds Rs.5,00,000/-.
iv.
Where the total income exceeds Rs.8,00,000/-
Rs.86,000/- + 30% of the amount by which the total income exceeds Rs.8,00,000/-.
Education Cess: 3% of the Income-tax.
·         SALARY INCOME INCLUDES :- PAY, DP, Band pay, Grade pay, DA, OTA, BONUS, CCA, Honorarium, Children Education Allowance Received, Pension, Subsistence Allowance, Government's Contribution in New Pension Scheme, Transport Allowance above Rs.800/- per month.
·         House Rent Allowance to the extent not exempted under Section 10 (13A) of Income Tax Act.
·         Agricultural Income. 
·          Exemption under Section 10 (13A) in respect of HRA – Calculation Method:
Least of the following amount is to be treated as exempt from Income Tax.
·         Actual House Rent Allowance Received, or
·         Rent paid in excess of 10% of Pay in Pay band and Grade Pay or
·         50% of Pay in Pay band and Grade Pay  if the employee is in Chennai/Mumbai/Kolkatta/Delhi and 40% of Pay in Pay Band and Grade Pay for the employees is in other places.
·         If the employees resides in his/her own house or in a house for which he/she does not pay any rent, no HRA exemption is available.
TAX-INCENTIVE FOR SAVINGS – MAXIMUM LIMIT Rs. 1,00,000/-(Sec 80 CCE)
·         Life Insurance Premium (limited 20% of the sum assured)
·         Subscriptions to the GPF/CPF
·         Subscriptions to the Mutual Fund
·         Contribution toward CGEGIS
·         Investments in NSC VIII & Accrued Interest on NSC deemed to be re-invested;
·         Fixed Deposits for more than 5 years in SBI/Scheduled Banks/Post Office Five Year Time Deposit Scheme
·         Repayment of HBA principal -Government /Bank/LIC/Housing Board/Co-operative Bank
·         Tuition Fee paid limited to two children
·         Subscriptions to equity shares/debentures forming part of any” eligible issue of Capital”—like Infrastructure Bonds   (Sec 80 C)
·         Contribution to any PENSION FUND, ULIP
·         Contribution both by the individual and Government made to New Pension scheme (Sec 80 CCD)
Apart from  this 1 lakh,  amount up to Rs.20,000/- invested in Infrastructre Bond approved by Government is exempted. (Sec 80 CCF)
CHAPTER VI DEDUCTIONS
·         Medical Insurance Premium: Maximum Rs.15,000/- and Rs.20,000 (for Senior Citizen) (Sec 80 D). Also Meducal Insurance Premium up to Rs.15,000 paid for Parents is also allowed to be deducted from the income.
·         Handicapped Dependents- Maximum Rs.50,000/- (Disability) or Rs.75000/- ( Severe Disability) -Sec 80 DD- This claim required certficate under Section 139 of the Income Tax Act.
·         Medical Treatment Expenses: Maximum Rs.40,000/- (Sec 80 DDB) 
·          Higher Education Loan repayment (Sec 80 E)- No limit- 
·          Approved Donation – Section 80G
·         Deduction under Section 80 U – An amount of Rs.50,000 and Rs.1 lakh in the case of self is physically disabled and severely physically disabled respectively. 
·          Deduction under Section 80 GG – Rent paid subject to ceiling as deduction under Section 80 GG if HRA not received.
·         Deduction under Section 80 GGC – Donation paid to Political Parties. 
·          Deduction under Section 80 GGA – Donation paid to Scientific and Research and Rural development.
 Income or Loss on House Property:
Interest paid on Loan obtained for constructing house property can not be deducted as such. It should be treated as loss on house property and income if any such as rent recived from the house property should be treated as an income from House property.
PAN is mandatory for filing income tax return with Income tax department and to implement the same Income tax department has come out with additional income tax liability to the assesses who did not provide their PAN in their income tax returns.  The Extract of CBDT PR No. 402/92/2006-MC (04/2010) dated 20/01/2010, is as follows.
A new provision relating to tax deduction at source (TDS) under the Income Tax Ac 1961 will become applicable with effect from 1st April 2010. Tax at higher of the prescribed rate or 20% will be deducted on all transactions liable to TDS, where the Permanent Account Number (PAN) of the deductee is not available. All deductors are liable to deduct tax at the higher rate in all transactions not having PAN of the deductees on or after 1st April 2010. In order that there is no dispute regarding quoting / non-quoting of PAN or accuracy thereof, the law requires all deductees and dedutors to quote PAN of deductees in all correspondences, bills, vouchers and other documents sent to each other. All deductors are, therefore, advised to intimate their deductees to obtain and furnish their PAN so as to avoid TDS at a higher rate.

Children Education Allowance Scheme - Clarification

What is One Pair of Shoes,Two set of Uniform etc.

How to Install Schoolib2010

Installation  
System Requirements
You require the following os and application installed in your system to run the application successfully:

 
1. Windows XP or Greater Version of any Windows Operating 
    System
 
 2. MSOffice(Microsoft Access and Excel 11.0 or Greater versions )
 3. ODBC Data Sources (32bit)
4.512 MB Ram(Minimum 256 MB)

Settings
Date Setting
The system date should be set in the following format to work the software accurately:dd/mm/yyyy
For example : 
12/10/2008
Currency Setting

 The system default currency should be set in Indian Rupees.
The above settings are required to function the package properly. This should be done by making proper changes in the regional settings by going to the control panel of your system.
Installation
To Install Schoolib2010.Download the Package from www.jnvkottayam.gov.in
 The package is in zipped format. Unzip it first and then open the Folder Schoolib2010
You can see a Setup.Exe file there (a blue computer picture icon)
Double click on this icon and strictly follow the instructions.
 
The package will be installed on your computer.
During the installation some times the system may ask you that
 
some of the components along with the package is older than the same components
 
installed in your computer and as such do you want to keep the original
 
components installed in your computer. You opt for “Yes”. I.e. click on yes.
 
Similarly the system may also tell you that some of the components cannot be
 
installed like msado.dll etc.When such type of problems arises click on “Ignore" button and not the other two buttons.
Now the package is installed in your system.
The package contains a sample database with some sample data in it
It will be automatically copied to the application folder at the time of installation.
You may test the application with this sample data.
The username  is :  unnikrishnan
The Password  is :  unnipp
After satisfying with the testing of the application with the sample data you can start the original data entry work.
But before starting the original work you have to remove the sample data
Follow the steps below to remove the sample data
Open the Unzipped folder containing the Package
There you can see a folder Named "Blank Database"
    1. Go to Data backup option under the main menu .
    2.The data back up window will be displayed
    3.From the left panel select Schoolib database by opening the file in the following manner
            C:\    ->click
            Program Files     ->click
            Schoolib2008V3.0    ->click
            Database     ->click
            Schoolib.mdb  Select it
             (Schoolib.mdb will be highlighted with background colour under "Select theDatabase"
4. From the right panel select the Schoolib database in the following manner
            Select the folder where you have copied the files earlier ->click
            Blank Database ->click
            Schoolib.mdb ->click
           Schoolib.mdb will be highlighted with back ground colour under "List of Backup Files"   
                NOW CLICK THE "Restore Now"Button    The blank Database will be copied in to your Schoolib2010 folder under the program files.After restoring the blank database delete it from the  folder where you have copied it originally.After restoring the blank database close the application and start it again.
   
        Note:The Back up and restore operations should be done very carefully as these may lead to replacement of the original files from the folder.
No need to create any DSNs No need to copy the database as done in the previous versions. Everything will be done by the system itself.
To Uninstall Schoolib2008v3.0
1.     Click the [Start] button.
2.     Select Settings > Control Panel.
3.     Double-click Add/Remove Programs.
4.     Click Install/Uninstall.
5.     Then select Schoolib2008v3.0 from the list of programs that can be automatically removed.
6.     Click the [Remove...] button to uninstall the package
Starting the program 
To start Schoolib2010, click the Schoolib2010 icon
 found in the Start menu, in Programs / Schoolib2010
The default userid is :       unnikrishnan
The default password is :  unnipp
You may change it by going to Update Library Option in the following manner
1.Click on Update library menu
2.Go to the File at the right top of this window
3.Select the Add Library Menu
4.Fill the details and press Save button
5.Your Library details will be added now
6.Again go to the file menu,then select the old library record with username unnikrishnan ,to  delete it select delete library from file menu and press ok.
7.similarly you can add your own username and password by selecting the New user option from the main menu