Flash news on parity

Dear Members


                         OUR CSSS PARITY CASE  REGISTERED UNDER  OA No.709/13  FILED BY SECRETARY GENERAL, CAICGSA AND 6 OTHER MEMBERS ONE FROM INCOME TAX, CENTRAL EXCISE, AG, PASSPORT, POSTAL AND SC/ST COMMISSION.

                        OUR MAIN DEMAND IS  CSSS PARITY   WEF  1-1-2006  AND UPGRADATION OF  PRESENT SR.PS POST TO PPS(EQUAL GRADE AND GP WITH CSSS)

SG,CAICGSA

Retirement Wishes to Shri.R.Krishnan

Dear Members,

                         Shri.R.Krishnan, PS to Chief PMG,Chennai  is retiring today after a long unblemished service in the Department.  He is the founder Secretary General of  the Confederation.  His leadership quality and valuable services rendered to the confederation is praiseworthy.  His retirement is a great loss to the confederation.  I hope that  his valuable  advice,guidance will help us to reach new heights.

                         On behalf of the Confederation I wish him a happy, peaceful and healthy retired life.


M.Harisuthan
SG,CAICGSA

Before independence on 1917 our Indian one rupee is equal to 11.50 USD. Surprising isn't it?

by Admin

In the year 1947 one Dollar is equal to 1 Indian Rupee. Afterwards, the value of Indian Rupee steadily declined and reached 48 rupees to 1 US Dollar. In the period 2000–2007, the Rupee stopped declining and stabilized ranging between 1 USD = INR 44–48. In late 2007, the Indian Rupee reached a record high of Rs.39 per USD, on account of sustained foreign investment flows into the country. 

Click here to view the Dollar - Rupee exchage rates right from the years 1913.

       FLASH NEWS



      CASE FOR CSSS PARITY FILED BY THE CONFEDERATION AND OHTER SIX MEMBERS BELONGS TO VARIOUS SUBORDINATE DEPARTMENTS, AT CAT KOCHI.   LET US HOPE FOR THE  POSITIVE OUT COME,

        I REQUEST MEMBERS TO  DONATE VOLUNTARILY TO MEET THE EXPENSES AS  NO FUND IS  AVAILABLE IN CONFEDERATION ACCOUNT. 

SG,CAICGSA

Dear Members,


                            It is  happy to inform that  though delayed  Confederation could able to file the case.  Filing of case   for parity with  CSSS is in advanced stage and 99% work is completed and  most probably case will be filed before the  Hon'ble CAT, Ernakulam, Kerala on 15th July 2013.   The following will join with the case.

                           Secretary General,CAICGSA-M.Harisuthan  -On behalf of all subordinate Stenos

                            Shri.Srinivasan, PS to Commissioner of IT,Kozhikode
                            Smt.Ligy   S.R  PS to Commissioner of Central Excise,Trivandrum
                            Shri.P.S.Anirudhan, Stenographer  o/o Princiapl AG, Trivandrum
                            Shri.G.Ramdas,  Stenographer  o/o SC/ST Commission,Trivandrum

                           I request  support from  all the members


M.Harisuthan,Secretary General,CAICGSA

Five tax filing mistakes to avoid this year

Monday, July 8, 2013

Five tax filing mistakes to avoid this year

As the 31 July deadline approaches to file your returns, here's how to ensure you don't commit errors and receive a tax notice.

1) Availing of deduction twice

This is a common error that many salaried taxpayers commit. If you had switched jobs during the previous financial year, you might have got the Form 16 from both employers. While the first company may have deducted the tax correctly, the second might have deducted very little. It would have considered only the income for the rest of the year and given you the basic exemption of Rs 2 lakh, as also the deduction under Section 80C. However, these must have already been factored in by the previous company. "You might have to pay additional tax in such a situation," says Sudhir Kaushik, co-founder of tax filing portal, Taxspanner. com.

Don't think you can escape by ignoring the previous income in your tax return. The computerised scrutiny will immediately detect the discrepancy. There will also be a mismatch in your TDS details because the previous employer would have deposited the TDS on your behalf, along with your PAN and other details.

2) Not mentioning exempt income

Dividends are tax-free. So are longterm capital gains from stocks and equity funds, as well as the interest on your PPF investments and tax-free bonds. There is also no tax to be paid on agricultural income and gifts from specified relatives. Even though these are tax-free, all exempt incomes must be mentioned in the tax return. Ignore this at your peril.

The new rules for tax filing announced this year state that if the total exempt income during the year exceeded Rs 5,000, you will have to use ITR 2 to file your return.

3) Not including interest

Last year's budget had introduced a new Section 80TTA, which gives a deduction of up to Rs 10,000 on interest earned on your balance in the savings bank account. Many taxpayers think this deduction also includes the interest earned on bank deposits. The interest earned on fixed deposits and recurring deposits is fully taxable at the normal rate. You have to mention it under the head 'Income from other sources' in your tax return.

Tax is payable even if the TDS has been deducted. TDS is only 10% (20% if you haven't submitted your PAN details), and if you are in the 20-30% bracket, you need to pay additional tax. The interest on NSCs is also taxable.

4) Not checking TDS details

Before you file your returns, check whether the tax you had paid for last year has been correctly credited to your name. The Form 26AS has details of the tax deducted on behalf of the taxpayer and can be easily checked online. It is easier if you have a Net banking account with any of the 35 banks that offer this facility.

Otherwise, you can go to the official website of the Income Tax Department and click on 'View your tax credit'. The first-time users will have to register, but it takes less than 5 minutes before you can log on and view your details.

5) Not mailing ITR V in time

The ITR V is the acknowledgment of your tax return. It is to be submitted along with your return if you file offline. If you have efiled your return without a digital signature, you need to take a print of the ITR V, sign it and send it to the CPC in Bangalore by ordinary mail.

This should be done within 120 days of uploading your return. The filing process is complete only after the ITR V is received at the CPC. You can check the status of your ITR V on the official website of the Income Tax Department. If it has not been received within 7-10 days of mailing, call up the Ayakar Sampark Kendra or send another copy.