Saturday 24 September 2011

INCOME TAX COMPUTING FOR THE FINANCIAL YEAR 2011-2012 (ASSESMENT YEAR 2012-2013)

                            INCOME TAX  FY 2011-2012 (AY 2012-2013)                        



A. Rates of tax for a Man, resident in India and below sixty years of age at any time during the financial year:
 

   1.  Where the total income does not exceed Rs. 1,80,000/-.Nil
   2.  Where the total income exceeds Rs. 1,80,000 but does not exceed Rs. 5,00,000/-10 per cent of the amount by which the total income exceeds Rs. 1,80,000/-
   3.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-.Rs. 32,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
   4.  Where the total income exceeds Rs. 8,00,000/-.Rs. 92,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.

B. Rates of tax for a woman, resident in India and below sixty years of age at any time during the financial year:

   1.  Where the total income does not exceed Rs. 1,90,000/-.Nil
   2.  Where the total income exceeds Rs. 1,90,000 but does not exceed Rs. 5,00,000/-.10 per cent, of the amount by which the total income exceeds Rs. 1,90,000/-
   3.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-.Rs. 31,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
   4.  Where the total income exceeds Rs. 8,00,000/-.Rs. 91,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.

C. Rates of tax for an individual, resident in India and of the age of sixty years or more but less than eighty years at any time during the financial year:

   1.  Where the total income does not exceed Rs. 2,50,000/-.Nil
   2.  Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-.10 per cent, of the amount by which the total income exceeds Rs. 2,50,000/-
   3.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-.Rs. 25,000/- plus 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-.
   4.  Where the total income exceeds Rs. 8,00,000/-.Rs. 85,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-.

D. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:
   1.  Where the total income does not exceed Rs. 5,00,000/-Nil
   2.  Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-
   3.  Where the total income exceeds Rs. 8,00,000/-Rs. 60,000/- plus 30 per cent of the amount by which the total income exceeds Rs. 8,00,000/-

 
Surcharge on Income tax: Education Cess on Income tax: 
Additional surcharge on Income Tax (Secondary and Higher Education Cess on Income-tax):From Financial Year 2007-08 onwards, an additional surcharge is chargeable at the rate of one percent of income-tax (not including the Education Cess on income tax).
Education Cess, and Secondary and Higher Education Cess are payable by both resident and non-resident assessees.
The amount of income-tax shall be increased by Education Cess on Income Tax at the rate of two percent of the income-tax.
There will be no surcharge on income tax payments by individual taxpayers during FY 2011-12 (AY 2012-13).

PRODUCTIVITY LINKED BONUS FOR THE ACCOUNTING YEAR 2010-2011

File No. 26-07/2011-PAP
Government of India
Ministry of Communications & IT
Department of Posts
(Establishment Division)
Dak Bhawan,Sansad Marg,
New Delhi-110 001
Dated 23rd September, 2011

All Chief Postmasters General,
Postmasters General
All General Managers (Finance)
Director/Deputy Directors of Accounts (Postal)
Subject:- Productivity Linked Bonus for the Accounting year 2010-2011
Sir/Madam,
            I am directed to convey the approval of the President of India for payment of Productivity Linked Bonus for the accounting year 2010-2011 equivalent of emoluments of 60 (Sixty) days to the employees of Department of Posts in Group `D`,Group `C` and non Gazetted Group `B`. Ex-gratia payment of Bonus to Gramin Dak Sevaks who are regularly appointed after observing all appointment formalities and adhoc payment of Bonus to Casual labourers who have been conferred Temporary Status are also to be paid equivalent to allowance/wages respectively for 60 (sixty) Days for the same period.
1.1 The calculation for the purpose of payment of Bonus under each category will be done as indicated below.
2. REGULAR EMPLOYEES:
2.1 Bonus will be calculated on the basis of the following formula:-
Average emoluments X Number of days of Bonus
30.4 (Average no. of days in a month)
2.2 The term "Emoluments" for regular Employees include basic Pay in the pay Band plus Grade Pay, Dearness Pay, Personal Pay, Special Pay (Allowance), S.B. Allowance, Deputation (Duty ) Allowance, Dearness Allowance and Training Allowance given to Faculty Members in Training Institutes. In case of drawl of salary exceeding Rs.3500/- (Rs. Three Thousand Five hundred only) in any month during the accounting year 2009-10 the Emoluments shall be restricted to Rs.3500/- (Rs. Three Thousand Five hundred only) per month only.
2.3 " Average Emoluments" for regular Employees is arrived at by dividing by twelve ,the total salary drawn during the year 2010-11 for the period from 1.4.2010 to 31.3.2011, by restricting each month's salary to Rs.3500/- (Rs. Three Thousand Five hundred only) per month. However, for the periods of EOL and dies-non in a given month ,proportionate deduction is required to be made from the ceiling limit of Rs.3500/- (Rs. Three Thousand Five hundred only)
2.4 In case of those regular employees who were under suspension, or on whom dies-non was imposed ,or both, during the accounting year, the clarificatory order issued vide Paras 1 & 3 respectively of this office order No. 26-8/80-PAP (Pt-I) dated 11.6.81 and No. 26-4/87-PAP (Pt.II) dated 8.2.88 will apply.
2.5 Those employees who resigned, retired, left service or proceeded on deputation within the Department of Posts or those who have proceeded on deputation outside the Department of Posts on or after 1.4.2010 will also be entitled to Bonus. In case of all such employees, the Bonus admissible will be as per provisions of Para 2.1 to 2.3 above.
3. GRAMIN DAK SEVAKS (GDS)
3.1 In respect of Gramin Dak Sevaks who were on duty through out the year during 2010-2011, Average monthly Time Related Continuity Allowance will be calculated taking into account the Time Related Continuity Allowance (TRCA) plus corresponding Dearness Allowance drawn by them for the period from 1.4.2010 to 31.3.2011 divided by 12 (Twelve). However, where the Time Related Continuity Allowance exceeds Rs 2500/- (Rs.Two Thousand Five hundred only) in any month during this period., the allowances will be restricted to Rs 2500/- (Rs.Two Thousand Five hundred only) per month. Ex-gratia payment of Bonus may be calculated by applying the Bonus formula as mentioned below:-
Average TRCA X Number of days of Bonus
30.4 (Average no. of days in a month)
3.2 The allowances drawn by a substitute will not be counted towards Bonus calculation for either the substitute or the incumbent Gramin Dak Sevaks. In respect of those Gramin Dak Sevaks who were appointed in short term vacancies in Postman/Group `D` Cadre, the clarificatory orders issued vide Directorate letter No. 26-6/89-PAP dated 6.2.1990 and No. 26-7/90-PAP dated 4.7.91 will apply.
3.3 If a Gramin Dak Sevak has been on duty for a part or the year by way of a fresh appointment, or for having been put off duty, or for having left service,he will be paid proportionate ex-gratia Bonus calculated by applying the procedure prescribed in Para 3.1
3.4 Those Gramin Dak Sevaks who have resigned, discharged or left service on or after 1.4.2010 will also be entitled to proportionate ex-gratia Bonus. In case of all such Gramin Dak Sevaks, the Ex-gratia Bonus admissible will be as per provisions of Para 3.1 above.
3.5 In case of those Gramin Dak Sevaks who were under put off duty or on whom dies non was imposed, or both during the accounting year ,the clarificatory orders issued vide Para 1 & 3 respectively of this office order No. 26-8/80-PAP (Pt I) dated 11.6.81 and No. 26-4/87-PAP (Pt II) will apply.
4. FULL TIME CASUAL LABOURERS INCLUDING TEMPORARY STATUS CASUAL LABOURERS)
4.1 Full Time Casual Labourers (including Temporary Status Casual Labourers ) who worked for 8 hours a day, for at least 240 days in a year for three consecutive years or more (206 days in each year for three years or more in case of offices observing 5 days a week) as on 31.3.2011 will be paid ad-hoc Bonus on notional monthly wages of Rs.1200/- (Rupees Twelve Hundred only)
The maximum ad-0hoc Bonus will be calculated as below:-
(Notional monthly wages of Rs.1200) X (Number of days of Bonus)
30.4 (average no. of days in a month)
Accordingly , the rate of Bonus per day will work out as indicated below:_
Maximum ad-hoc Bonus for the year
365
The above rate of Bonus per day may be applied to the number of days for which the services of such casual labourers had been utilized during the period from 1.4.2010 to 31.3.2011. In case where the actual wages in any month fall below during the period 1.4.2010 to 31.3.2011 the actual monthly wages drawn should be taken into account to arrive at the actual ad-hoc Bonus due in such cases.
5. The amount of Bonus /Ex gratia payment /Adhoc Bonus payable under this order will be rounded to the nearest rupee. The payment of Productivity Linked Bonus as well as the ex-gratia payment and ad-hoc payment will be chargeable to the Head `Salaries` under the relevant Sub –Head of account to which the pay and allowances of the staff are debited. The payment will be met from the sanctioned grant for the year 2011-2012.
6. After payment, the total expenditure incurred and the number of employees paid may be ascertained from all units by Circle and consolidated figures be intimated to the Budget Section of the Department of Posts. The Budget Section will furnish consolidated information to PAP Section about the total amount of Bonus paid and the total number of employees (category-wise) to whom it was distributed for the Department as a whole.
7. This issue with the concurrence of Integrated Finance Wing vide their diary No. 104/FA/10/CS dated 23-9-2011.
8.    Receipt of this letter may be acknowledged

Wednesday 21 September 2011

BSNL BROADBAND TARIFF FOR 2011

BSNL Nova Net PC is availabe at Rs.2,999 + tax in cities or urban areas of Bihar while at rural area it will cost 1,990 + taxes.
To increase broadband penetration in rural areas BSNL will provide Nova net PC along with CRT Monitor, Modem, Keyboard and Mouse free of cost (under USOF (Universal Service Obligation Fund scheme).
Two Internet plans are available with BSNL Nova Net PC in rural areas:
· @99 Rupees/month – 400MB of Data Download
· @150 Rupees/month – 1GB of Data Download
BSNL Broadband Plans and tariff in India – Bsnl Offers many broadband plans starting from 125/- to 3300/- with 2 Mbps internet speeed.
Bsnl Home broadband plan also includes unlimited data transfer in night from 2 A.M to 8 A.M
Bsnl Home 125 broadband Plan:
· Tariff – 125/-
· Data Transfer Limit – 150 MB
· Broadband Speed – up to 2 Mbps
· Additional usage – 90 paise/1 MB
Bsnl Home 250 broadband Plan:
· Tariff – 250/-
· Data Transfer Limit – 1 GB
· Broadband Speed – up to 2 Mbps
· Additional usage – 90 paise/1 MB
Bsnl Home 500 broadband Plan:
· Tariff – 500/-
· Data Transfer Limit – 2.5 GB
· Broadband Speed – up to 2 Mbps
· Additional usage – 80 paise/1 MB
· Night Unlimited – 2 AM to 8 AM
Bsnl Home 1000 broadband Plan:
· Tariff – 1000/-
· Data Transfer Limit – 5 GB
· Broadband Speed – up to 2 Mbps
· Additional usage – 80 paise/1 MB
· Night Unlimited – 2 AM to 8 AM
Bsnl Home 1800 broadband Plan:
· Tariff – 1800/-
· Data Transfer Limit – 10 GB
· Broadband Speed – up to 2 Mbps
· Additional usage – 70 paise/1 MB
· Night Unlimited – 2 AM to 8 AM
Bsnl Home 3300 broadband Plan:
· Tariff – 3300/-
· Data Transfer Limit – 20 GB
· Broadband Speed – up to 2 Mbps
· Additional usage – 70 paise/1 MB
· Night Unlimited – 2 AM to 8 AM


Bsnl Home Combo Broadband Plans and tariff in India – BSNL offers landline connection along with Broadband plans to home users at very cheap tariff
Bsnl Home Combo 199 broadband Plan:
· Tariff – 199/-
· Broadband Speed – 256 kbps
· Data Transfer Limit – 250 MB
· Additional Charges – 90 paise/1 MB
· Call charges – 1.20 Rupees/Pulse
· Free Calls – N/A
Bsnl Home Combo 299 broadband Plan:
· Tariff – 299/-
· Broadband Speed – 256 kbps
· Data Transfer Limit – 1 GB
· Additional Charges – 90 paise/1 MB
· Call charges – 1 Rupees/Pulse
· Free Calls – N/A
Bsnl Home 500 C broadband Plan:
· Tariff – 500/-
· Broadband Speed – up to 2Mbps
· Data Transfer Limit – 1.5 GB
· Additional Charges – 80 paise/1 MB
· Free Calls – 175
Bsnl Home 500 C Plus broadband Plan:
· Tariff – 600/-
· Broadband Speed – up to 2Mbps
· Data Transfer Limit – 2.5 GB
· Additional Charges – 80 paise/1 MB
· Free Calls – 50