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SUN TV ~ Live Tv At Online

, by indianmilitaryveterans

SUN TV ~ Live Tv At Online

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EXPECTED DEARNESS ALLOWANCE FROM JULY 2012

, by indianmilitaryveterans


Expected DA from July 2012
Perhaps it is very early to calculate the status of  additional Dearness allowance from July, 2012 for Central Government employees and Pensioners, before releasing the AICPIN for the balance of two months i.e.May and June. Enquiries are being poured as comments and received emails to our inbox about the expected DA from July, 2012. We can assume that the AICPIN will certainly go up, because of the essential commodities prices are going high with non stop. Anyway we can assume the additional Dearness allowance from July 2012 will be minimum 7%. The existing Dearness allowance is 65%, it will become as 65% + 7% = 72%.

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No service tax to be levied on NRI remittances: FinMin

, by indianmilitaryveterans


No service tax to be levied on NRI remittances: FinMin
Sanjeev Sharma/TNS

New Delhi, July 10
The Finance Ministry today clarified that no service tax would be levied on NRI remittances from overseas.

The clarification by the Central Board of Excise and Customs (CBEC), which functions under the Finance Ministry, follows concerns over reports that there was a move to levy 12 per cent tax on money sent back home by Indians abroad under the changed service tax regime from July 1.

The CBEC said in a circular “that the matter has been examined and it is clarified that there is no service tax per se on the amount of foreign currency remitted to India from overseas”. In the negative list regime, “service” excludes transaction in money. As the amount of remittance comprises money, the activity does not comprise a “service” and is not subjected to service tax, the circular clarifies.

It further added that “in case any fee or conversion charges are levied for sending such money, they are also not liable to service tax as the person sending the money and the company conducting the remittance are located outside India. Such services are deemed to be provided outside India and thus not liable to service tax”.

It has been further clarified that even the Indian counterpart bank or financial institution which charges the foreign bank for the services provided at the receiving end, is not liable to service tax as the place of provision of such service is outside India.

The clarification will alleviate concerns of NRIs as India is one of the top recipient of remittances ($64 billion in 2011), according to the World Bank data. Given the dire need for dollar at a time when current account deficit is high and Rupee is under pressure, any move to levy service tax on NRI remittances would have been disastrous.

CMs of Punjab and Kerala, which are among the states receiving the largest remittances from NRIs, had taken up the matter with Prime Minister Manmohan Singh.

M Rafeeque Ahmed, president, Federation of Indian Export Organisations (FIEO), said that towards addressing the trade deficit, remittances were the single largest source of unconditional flow of foreign exchange into India, according to estimates by the World Bank. Given the slowdown and declining levels of foreign exchange, service tax could only act as a deterrent to precious incoming foreign exchange, he added.

He said the waiver of service tax on the same would ensure that this stable source of foreign exchange would continue to maintain the delicate balance of payments position of India at this moment of global crisisClick here

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, by indianmilitaryveterans


Amarnath pilgrims at Khalsi base camp before commencing their journey
through a glacier to the Amarnath cave shrine.
Photo: K.R. Deepak
 

Monsoon clouds hover over Kolkata's skyline as dusk
descends on the city.
Photo: Arunangsu Roy Chowdhury
Pilgrims at the Khalsi base camp o their way to the Amarnath cave shrine.
Photo: K.R. Deepak

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Not so Adarsh

, by indianmilitaryveterans

Even if the Adarsh society case does not end in convictions, enough ignominy has been heaped on former Maharashtra Chief Minister Ashok Chavan who was charge sheeted in the scam along with 12 others. Mr. Chavan has been accused of criminal conspiracy and abusing his official position when he was Revenue Minister over a decade ago to include civilians in the society and grant other favours. In turn, his mother-in law and other relatives got flats. There is a feeling in some sections that Mr. Chavan has been unfairly targeted and two other former Chief Ministers, Vilasrao Deshmukh and Sushilkumar Shinde, were also responsible. The CBI investigation is still open in the case of these two. While Mumbai is full of such frauds involving valuable land, what sets Adarsh apart is the nexus that was unravelled between politicians, bureaucrats and promoters — most of whom managed to cadge flats for their family members in a building which was blatantly illegal. The CBI is yet to officially reveal the details of the benami flats but there is evidence that this could involve more politicians or people close to them.

In comparison with Union Minister Vilasrao Deshmukh, whose career graph shoots up every time the courts pass strictures against him, Mr. Chavan seems to lack a guardian angel. His cup of woes is full as he is also at the centre of a paid news controversy and his election has been contested on those grounds. If the CBI can prove the charges it has framed in the Adarsh case, it will definitely set a precedent. It is essential that the politicians and officers responsible for violating the laws of the land, abusing their office, and flouting the coastal regulation zone (CRZ) notification are given exemplary punishment. Real estate and housing equals power in Mumbai and few get caught for the numerous illegal transactions that take place. There is no need to be dismissive about the relatively small size of the scam in rupee terms when compared to other, more massive frauds. What is untenable too is the constant carping that Mr. Chavan is less culpable than the others and that he only grabbed “a few flats.” Instead of blaming the media for targeting bureaucrats and politicians, the State government should launch a comprehensive investigation into fraudulent housing societies, not to speak of the sharp practices that go on throughout Mumbai in the name of slum redevelopment.
 Not so Adarsh

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CSD PRICE LIST

  • CSD-Price-List-for-Volkswagen-Cars---Post-GST-Rates