Tuesday, July 1, 2014
N F P E News
All Circle/Divisional/Branch Secretaries
Your Attention please
Memorandum submitted to 7th CPC by (1) JCM Staff side on Common demands and (2) NFPE & FNPO on Postal demands are exhibited in our website. Please download and discuss it in your committees and General Body meetings. Any further suggestions/additions/alterations/deletions required should be intimated by e-mail to mkrishnan6854@gmail.com before 15th July. We will submit a supplementary memorandum before 20th July, if required. Last date for submission of memorandum is 31st July 2014. Please take it seriously and HURRY UP.
M. Krishnan
Secretary General
NFPE
Confederation News
ATTENTION, ALL C-O-Cs, NATIONAL SECRETARIAT MEMBERS AND CHIEF EXECUTIVES OF ALL AFFILIATED ORGANISATIONS OF CONFEDERATION
Dear Comrade,
Sub: Memorandum to 7th Central Pay Commission.
We invite your reference to the Memorandum on common issues submitted to the 7th CPC by the Staff Side of the JCM on 30th June, 2014. We have placed a copy thereof on our website. We request you to kindly g o through the same thoroughly. As you are aware, we have on several occasions from February, 2014 to date, discussed the issues to be covered in the common memorandum and the approach we should make on each issue. Many of our suggestions have been found acceptance with the Staff Side and the same has been incorporated. National Secretariat of the confederation is again meeting on 17th afternoon to consider the suggestions from various quarters whether any left out common issues on which we should submit a memorandum. We are also at liberty to have a different view on certain matters. We will discuss all these in the meeting on 17th. To enable a meaningful discussion, we request you to kindly intimate us by 14th July your suggestion in the matter, so that the Secretariat will be able to take a decision and act quickly.Confederation’s memorandum will be submitted to the 7th CPC before 20th July incorporating all omissions and new suggestions, if any.
The last date for submission of memorandum to 7th CPC is 31st July, 2014. The Commission has accepted the proposal made by us through staff side in the matter and accordingly extended the date. All affiliates must ensure that their memorandum on department specific issues are finalised well in time and submitted before the due date. Awaiting immediate response.
Email ID: confederationhq@gmail.com
With greetings,
Yours fraternally,
M. Krishnan
Secretary General
Budget 2014: Finance Ministry may double tax exemption limit under 80C to Rs 2 lakh
Seeking to boost household savings, the Finance Ministry is considering doubling the exemption limit for investments by individuals in financial instruments to Rs 2 lakh.
Presently the investments and expenditures up to a combined limit of Rs 1 lakh get exemptions under Sections 80C, 80CC and 80 CCC of the Income Tax Act.
Sources said the revenue department is assessing the burden on the exchequer in case of increase in the benefit limit. The announcement is expected in the Budget.
The Budget for 2014-15 will be presented by Finance Minister Arun Jaitley in the Lok Sabha on July 10.
There have been demands from bankers and insurers to hike the tax exemption limit from Rs 1 lakh per annum to encourage household savings.
The savings rate has come down from over 38 per cent of GDP in 2008 to 30 per cent in 2012-13.
The hike in the exemption limit, sources said, would provide much needed relief to the salary earners who are reeling under the impact of high inflation.
The Direct Taxes Code (DTC) too has recommended that the combined ceiling for investments and expenditures be raised to Rs 1.5 lakh per annum.
The financial instruments which enjoy exemption include life insurance premium, public provident fund, employees provident fund, National Savings Certificates, repayment of capital on home loan, equity linked saving schemes sold by mutual funds and bank FDs of five year maturity.
Presently the investments and expenditures up to a combined limit of Rs 1 lakh get exemptions under Sections 80C, 80CC and 80 CCC of the Income Tax Act.
Sources said the revenue department is assessing the burden on the exchequer in case of increase in the benefit limit. The announcement is expected in the Budget.
The Budget for 2014-15 will be presented by Finance Minister Arun Jaitley in the Lok Sabha on July 10.
There have been demands from bankers and insurers to hike the tax exemption limit from Rs 1 lakh per annum to encourage household savings.
The savings rate has come down from over 38 per cent of GDP in 2008 to 30 per cent in 2012-13.
The hike in the exemption limit, sources said, would provide much needed relief to the salary earners who are reeling under the impact of high inflation.
The Direct Taxes Code (DTC) too has recommended that the combined ceiling for investments and expenditures be raised to Rs 1.5 lakh per annum.
The financial instruments which enjoy exemption include life insurance premium, public provident fund, employees provident fund, National Savings Certificates, repayment of capital on home loan, equity linked saving schemes sold by mutual funds and bank FDs of five year maturity.
Source:-The Economic Times
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