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30/12/2014

Government to tighten screw on indisciplined government employees

Prime Minister Modi has himself reiterated that he is a hard task master. This version of him has started to reflect on ground. Government has already tighten noose around the neck of indisciplined central government employees by deploying biometric attendance machine in offices. Government is coming up with more stricter rules, please read this news report:-

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Source-govemployees

21/12/2014

Important Tips to save Income Tax

Important Tips to save Income Tax

With insurers, fund houses and others pushing products during this time, do the numbers first
In December, employees typically start getting letters from their human resource department to provide documents to support their tax-saving declaration made in March.
This year, there is a twist in the tale.
The Union Budget, in July, increased the Section 80C limit and home loan interest under Section 24 by Rs 50,000 to Rs 1,50,000 and Rs 2,00,000, respectively.
So, some adjustments will be required.
Step one: Before you start rushing to buy all kinds of products to fill the gap, do some hard numbers.
Look at your annual employee provident fund (EPF) contribution.
If the amount exceeds Rs 1,50,000, then you needn’t worry about tax saving.
The problem lies if the amount is lesser.
Step two: Do you have a home loan? It could solve the problem.
Since Section 80C allows principal payment deduction up to the entire limit, if you are falling short after the EPF contribution, use it.
Also, if you are already paying annual premiums for life insurance policies and have invested in other instruments such as Public Provident Fund, National Saving Certificates and others, use them.
Step three: The need for fresh investments and buying new instruments would only occur two circumstances.
One, you do not want to invest in instruments like PPF or NSC and are still falling short of the 80C limit.
Two, you want to take exposure in more aggressive instruments through the equity route so that while saving tax, you also make more money.
The first choice, in such circumstances should be equity-linked savings schemes. But remember that they have a three-year lock-in period.
The good part: With equity markets looking up and likely to do well for the next few years, they should give good returns.
Also, the returns on redemption will be tax free.
Under Section 80C, the investor in the top income-tax bracket will get a benefit of 30 per cent on the invested amount. You can also use the SIP route.
But given the fact that it is already December, it would be a better idea to use the lumpsum route to save tax.
Step four: Yes, with stock markets on a roll, insurers will push unit-linked insurance plans with a high equity component.
No doubt, this will save tax and have become substantially cheaper, but it will hurt you otherwise because these products do not provide enough insurance or investment.
Choosing a pure-term plan to save tax will be even cheaper.
As Kartik Javeri, director, Transcend India, says: “It will also mean an annual premium payment which will save tax.”
Step five: Since the home loan interest component under Section D has also been increased to Rs 2,00,000, one big step you can take is reduce the tenure of the home loan, if you can afford it and especially if it is a new loan.
Since the interest component is higher in the initial period of the loan tenure, you can maximise your benefits. In case of a joint loan, the annual benefit will be Rs 4,00,000.
“If you in your 20s or 30s, you can also invest the surplus and prepay a larger amount in the later years.
This way, you will forego some tax benefit, but start building wealth for the future,” adds Jhaveri.
Joydeep Ghosh
Source: BS

16/12/2014

Vacation and Breaks in Kendriya Vidyalayas during academic session 2015-16.

Kendriya Vidyalaya Sangathan(HQs)
18 Institutional Area
Shaheed Jeet Singh Marg
New Delhi – 110016
File No. 110334/2012-KVSHQ(Acad.)/.Part II/5280-5285
Dated 10.12.2014
OFFICE MEMORANDUM
Subject:- Vacation and Breaks in Kendriya Vidyalayas during academic session 2015-16.
The Competent Authority has decided the following, schedule for Vacation and Breaks in Kendriya Vidyalayas for the academic session 2015-16, as per decision of 94th BOG dated 28.12.2012.
(A) Summer stations:-
(I) Regions covered :-(Jammu, Chandigarh, Dehradun, Gurgaon, Delhi, Agra, Bhopal, Jaipur, Kolkata, Guwahati, Silchar, Tinsukia, Lucknow, Varanasi, Ranchi and Patna).
1Summer Vacation13.05.2015 (Wednesday)21.06.2015 (Sunday)40 days
2Autumn Break18.10.2015 (Sunday)27.10.2015 (Tuesday)10 days
3Winter Break24.12.2015 (Thursday)12.01.2016(Tuesday)20 days
(II) Regions covered (Ahmedabad, Mumbai, Bangalore, Chennai, Hyderabad, Jabalpur, Raipur, Ernakulum and Bhubaneshwar).
1Summer Vacation03.05.2015(Sunday)21.06.2015 (Sunday)50 days
2Autumn Break13.10.2015 (Sunday)27.10.2015 (Tuesday)10 days
3Winter Break24.12.2015 (Thursday)03.01.2016(Sunday)11 days
(B) Winter Stations:-
1Summer Vacation17.05.2015(Sunday )26.05.2015 (Tuesday)10 days
2Autumn Break18.10.2015 (Sunday27.10.2015 (Tuesday)10 days
3Winter Break12.12.2015 (Saturday)31.01.2016(Sunday)51 days
(C) Long Winter Stations:- KVs at Leh, Kargil, Nubra (J&K) and Tawang (Arunachal Pradesh).
1Winter Break29.11.2015(Sunday)07.02.2016 (Sunday)71 days
(D) A&N Islands:-
1Summer Vacation09.05.2015(Saturday)07.07.2015 (Tuesday)60 days
2Autumn Break18.10.2015(Sunday)27.10.2015(Tuesday)10 days
(E) For KV Kathmandu (Nepal):-
1Summer Vacation16.05.2015(Saturday)30.05.2015(Saturday)15 days
2Autumn Break18.10.2015 (Sunday)27.10.2015 (Tuesday)10 days
3Winter Break05.12.2015 (Saturday)18.01.2016 (Monday)45 days
Note:-
(1) Both dates (days) are inclusive.
(2) if day of opening Vidyalaya is a holiday or declared a holiday by Govt, the Vidyalaya will open on the .
(3) Shipping schedule from A & N lsiands to the main land has not been received so far. Hence vacation dates in the above Vidyalayas of A & N Islands are tentative and will coincide with vacations of State Government Schools to enable all KV teachers to avail facility of ’Teacher’s special Ships’ for visiting mainland during vacations.
(P.K. Koul)
Dy Commissioner (Acad)
SOURCE - http://www.govemployees  .in/

05/12/2014

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