Payment of interest in respect of PPF (HUF) accounts


F.No.7/4/2008-NS II 
Ministry of Finance 
Department of Economic Affairs 
(Budget Division)

New Delhi, the 1 st June, 2011.

To
The CGM (DGBA),
Reserve Bank of India,
Department of Government & Bank Accounts,
Central Office, Byeulla Office Building,
4th Floor, Opp. Mumbai Central Railway Station,
Byeulla, Mumbai-400008.

Sub: Payment of interest in respect of PPF (HUF) accounts.

Sir,

I am directed to say that as per the provisions contained in Public Provident Fund (PPF) Scheme, 1968, prior to 13th May, 2005 accounts could be opened by individuals and on behalf of HUFs. With effect from 13th May, 2005 opening of PPF accounts has been restricted to “individuals” only. In this regard, a clarification was issued by Finance Ministry vide letter No. F.2/8/2005-NS II dated 20.5.2005 intimating that PPF accounts of HUFs shall continue till maturity and deposits/withdrawals in/from these accounts shall be allowed to be made in accordance with the rules of the scheme. However, any extension of existing accounts shall be subject to the amendment dated 13th May, 2005.

2. As per Paragraph 9(3) of PPF Scheme, 1968 a subscriber to the account, any time after the expiry of 15 years from the end of the year in which the initial subscription was made, if he so desires, can apply for withdrawal of the entire balance standing to his credit. Further, as per proviso below Paragraph 9(3), the subscriber may, if he so desires, make withdrawal of the amount standing to his credit from time to time in installments not exceeding one in a year.

3. An amendment has been made to PPF Scheme, 1968 vide this Ministry’s Notification No. G.S.R. 956(E) dated 7th December, 2010. A new Proviso below Sub Paragraph 3 of Paragraph 9 of PPF Scheme, 1968 has been inserted, according to which PPF accounts opened On behalf of HIJFs prior to 13th May, 2005 shall be closed after expiry of 15 years from the end of the year in which initial subscription was made. In respect of those HUF accounts where the initial period of 15 years had already been completed prior to the issue of Notification dated 7.12.2010, such accounts were to be 
closed on31 March 2011.

4. Some of the subscribers of PPF (HUF) accounts had closed the accounts on maturity or thereafter between 13th May, 2005 to 7.12.2010 (before the issue of the aforesaid amendment). Some of such account holders, were not paid interest at PPF rates on the deposits retained beyond the maturity period (without further subscriptions). Those subscribers had been representing that interest at PPF rate may also be paid to them on the deposits that were retained in PPF accounts beyond maturity period. The matter has been examined in this Ministry and it has been decided that interest at PPF rate would be paid on those PPF (HUF) accounts, which had attained the maturity after 13.5.2005 but closed by the subscribers before 7.12.2010,subject to the conditions that the accounts had not been extended thereafter and the deposits were retained in such accounts without further subscriptions.

5. The above decision may be circulated to all concerned for compliance.

6. This issues with the approval of Secretary (EA).

Yours faithfully, 
(M.A. Khan) 
Under Secretary the Govt. of India

finmin.nic.in

Payment of Composite Transfer Grant


Government of India/Bharat Sarkar 
Ministry of Railways/Rail Mantralaya 
(Railway Board)

RBE No.76/2011.

No. F (E) I/2010/AL-28/46                                                      New Delhi, dated 26.05.2011.

The General Managers,
All Indian Railways, etc.
(As per Standard Mailing List)

Sub:- Payment of Composite Transfer Grant.

   Representations have been received from various quarters for doing away with the condition of production of documentary evidence for transportation of personal effects from one station to another for admissibility of 100% CTG, where transferee/retiree submits self declaration of having transported personal effects by own means, without availing of the facility of Kit Pass, VPU and Goods/Container.

   The matter has been examined and it has been decided by the Board that henceforth:

     (i) When transferee / retiree submits self declaration that transportation of personal effects has been made by own arrangement and facility of Kit Pass/VPU/Goods Train/ Container has not been availed of, production of documentary evidence of such transportation of personal effects by own arrangement need not be insisted upon, Subject to fulfillment of other conditions. Proof of journey/change of residence will however continue to be required. In the cases where Kit Pass has been availed by the railway employee for transportation of personal effects, extant provision under the rules would continue to be applicable to regulate quantum of Composite Transfer Grant.

     (ii) For short distance transfers/settlement after retirement within the same Station or to an outstation within 20 Kms., where transportation of personal effects is generally carried out by road, CTG may be granted at prescribed rates. i.e 1/3rd of Basic Pay on production of documentary. Proof of change of residence, as a result of transfer/retirement subject to fulfillment of other conditions.

sd/- 
(Sonali Chaturvedi) 
Dy. Director Finance (Estt) 
Railway Board.

source-AIRF

‘No Filing of returns’ scheme for salaried class earning less than Rs. 5 Lakh to be notified by June, 2011


‘No return’ scheme for salaried class earning less than Rs. 5 Lakh to be notified by June

The Chairman of Central Board of Direct Taxes ( CBDT), Sudhir Chandra, today said the scheme to 
exempt salaried people earning up to Rs 5 lakh annually from filing income tax returns will be notified in the first week of June. The scheme was announced in the Union Budget 2011-12 by Finance Minister Pranab Mukherjee.

“A category of small-salaried tax payers whose net salaried income is not above Rs 5 lakh and whose tax is deducted at source by the employer who files return, will be exempted from filing returns,” Chandra told reporters here.

“The scheme for this category will be notified in the first week of June,” he said. “But if the taxpayer is claiming a refund from the l-T department, then he will have to file the return.”

The scheme will provide relief to about 70 to 80 lakh people from filing l-T returns. “We are also trying to exempt small bank-interest income, the tax on which has been deducted at source, under this scheme,” he said.

“A new facility has been introduced on filing of electronic returns. At the click of the mouse, a portal will open…on which you can view every month how much money your employer has deducted, and whether it has been deposited in the government kitty,” Chandra said.

Source- PTI


Financial up gradation under MACP to Running Staff


GOVERNMENT OF INDIA 
MINISTRY OF RAILWAYS 
(Railway Board)

No PC-V/2010/MACP/4/fed                                                          New Delhi, dated 31-05-2011

The General Secretary
AIRF
4, State Entry Road,
New Delhi-110055

Sir,

Sub:-Resolution No.6:- financial up gradation under MACP to Running Staff.

   The undersigned is directed to refer to AIRF’s D.O No. AIRF/55(116), dated 06-05-2011 on the above subject and to state that a reference has been made to DoP&T, the nodal department of Govt. on MACP regarding how the cases of MACPS be regulated where promotional post is also in same Grade Pay.Reply from DoP&T is still awaited and a final reply would be communicated on receipt of the same from DoP&T.

Yours faithfully, 
sd/- 
for Secretary/ Railway Board

source-http://www.airfindia.com

Amendments in the Central Lists of Other Backward Classes (OBCs)


The Union Cabinet today approved the inclusion of the names of some castes and communities in the Central List of OBCs.

The National Commission for Backward Classes advised the Central Government for amendment in the Central list of Other Backward Classes (OBCs) for the States of Andhra Pradesh, Bihar, Goa, Gujarat, Himachal Pradesh, Karnataka, Madhya Pradesh, Maharashtra, Orissa, Rajasthan, Tamil Nadu, Uttar Pradesh, Uttarakhand, West Bengal and Union Territories(UTs) of Andaman & Nicobar Islands & Puducherry.

Accordingly, the Ministry of Social Justice & Empowerment will make amendments in the Central lists of OBCs in respect of these States and UTs. Inclusion of these castes/communities in the Central list of OBCs would enable them to avail the benefits of reservation in Central Government services and posts as well as in the Central education institutions, thus contributing to the goal of equity and inclusiveness.

source-pib


Fixed Medical Allowance to beneficiaries of New Pension Scheme drawing additional relief on death/disability of government servant


NO.4/27/2009-P&PW(D) 
GOVERNMENT OF INDIA 
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES & PENSIONS 
(DEPARTMENT OF PENSION & PENSIONERS’ WELFARE)

3rd Floor, Lok Nayak Bhawan, Khan Market, 
New Delhi-i 10003, Dated the 24th May,2011.

OFFICE MEMORANDUM

Subject: Fixed Medical Allowance to beneficiaries of New Pension Scheme drawing additional relief on death/disability of government servant.

The Fixed Medical Allowance (FMA) is granted to Central Govt. Pensioners/Family pensioners who at the time of retirement/death are governed by CCS (Pension) Rule 1972 or other corresponding rules in operation prior to commencement of these rules and are eligible for medical facilities after retirement as per instructions contained in this Departments’ OM No.45/57/97- P&PW(C) dated 19.12.97 as clarified from time to time.

2 Grant of FMA to the beneficiaries of New Pension Scheme drawing additional relief on death/disability of government servant in terms of Department of Pension and Pensioners’ Welfare OM No. 38/41/06/P&PW(A) dated 5th May, 2009 has been examined in consultation with the Ministry of Health & Family Welfare and Deptt. of Expenditure. Since the serving employees who are covered by NPS and residing in areas covered under CGHS are availing CGHS benefits and similarly the serving employees, covered under NPS, who are residing in non-CGHS areas are covered under CS (MA) Rules, hence, the NPS pensioners drawing additional relief on death/disability of  government servant in terms of Department of Pension and Pensioners Welfare OM No. 38/41/06/P&PW(A) dated 5th May, 2009 and staying in areas not covered by CGHS/corresponding health scheme of other Ministries can get a pensioners Medical card by paying appropriate amount in the nearest CGHS/ corresponding health scheme of other Ministries covered city to their residence to enable them to obtain indoor treatment. They are also entitled to draw Fixed Medical Allowance as fixed by the government. As and when the Health Insurance Scheme is introduced, the New 
Pension Scheme pensioners would be shifted to the Health insurance Scheme.

4. These orders are issued with the concurrence of the Ministry of Health and Family Welfare vide their ID No. S.11015/3/2010-CGHS(P) dated 18.11.2010 and Ministry of Finance (Deptt. of Expenditure) vide their UO No. 78/EV/2011 dated 22.3.2011 and in consultation with the comptroller and Auditor General of India vide their UO No. 4-Audit(Rules)/17-2009 dated 4.4.2011.

5. Hindi version will follow.

(K.K. Mittl) 
Director

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