Tax-free limit for gratuity hiked to Rs 20 lakh

Tax Free Limit of Gratuity is being increased from Rs. 10 Lakh to Rs. 20 Lakh. But what about other demands by Unions like abolishing the 5 years of continue service, minimum 10 employees in organisation, revising the formula from 15 days in 26 days month to 30 days months for a year etc. If it happens, No doubt it would be one of the biggest labour law reforms in years. On the one hand Govt is reducing corporate income tax rates, on the other ways, creating such provisions for companies to pay more in other forms. Like “Men will be Men” Commercial, Yeh to Kahna Banta hai, “Govt will be Govt”. Thanks. 

Link: http://economictimes.indiatimes.com/news/economy/finance/budget-impact-gifts-of-shares-assets-in-corporate-restructuring-now-taxable/articleshow/56950659.cms

AAP govt approves around 37% hike in minimum wages

As per the Cabinet's decision, the minimum wages for unskilled persons will be Rs 13,350 per month against the existing Rs 9,724 per month. For semi-skilled and skilled persons, it will increase from Rs 10,764 to Rs 14,698 and from Rs 11,830 to Rs 16,182 per month respectively. 

After increase in ESI Eligibility Limit from Rs. 15,000/- to Rs. 21,000/-, Now about 37% increase in minimum wages by Delhi Govt - Good News for Junior Salaried People but tough time for Industry, as direct cost and cash flow both will get hit. 

Link : http://economictimes.indiatimes.com/news/politics-and-nation/aap-govt-approves-around-37-hike-in-minimum-wages/articleshow/57344818.cms

EPFO claims settlement: Narendra Modi govt makes withdrawal easier, scraps multiple forms

Having faced flak for the delays in claim settlements, the Employees’ Provident Fund Organisation (EPFO) has decided to introduce a single-page claim form, instead of current multiple forms for withdrawing funds accumulated with the retirement fund body.

Link : http://www.financialexpress.com/economy/epfo-claims-settlement-narendra-modi-govt-makes-withdrawal-easier-scraps-multiple-forms/561596/

Why Supreme Court upheld Sasikala’s conviction ?

जब आज प्रात: काल समाचारों मे शशिकला (तमिलनाडु स्वम्भू भावी मुख्यमंत्री ) के खिलाफ माननीय सर्वोच्च न्यायालय का आदेश सुना तो कई प्रश्न मन में थे कि क्या ये फैसला राजनीति से प्रेरित है ? अमित शाह का कोई खेल ? पनीरसेल्वम की नरेंद्र मोदी जी से घनिष्ठा का परिणाम ? अम्मा की आत्मा का कोप ? ये आदेश इसी समय क्यों आया ? फिर इस पर कई लेख और टिप्पणियां पढ़ी तो कई सवालों का जवाब मिला । ज्ञात हुआ की जन सेवा की बात करने वाले राजनेता कैसे विलासपूर्ण जीवन जीते हैं । उन्ही मे से एक लेख आपके साथ share कर रहा हूँ, इसी में दिये गए Link से आदेश की प्रति भी Download या Read की जा सकती है । पर उस देश मे जहाँ गरुड़ पुराण पढ़ने और सुनने के बाद भी भ्रष्ट राजनीतिक आत्माओं को नर्क एवम भगवान से भय नहीं लगता तो इस आदेश से क्या उनमे कोई सुधार आएगा ये तो वक़्त ही बताएगा, पर यदि ऐसा हुआ तो ये Judgement एक मील का पत्थर साबित होगी ।

http://www.indialegallive.com/news-of-the-day/analysis/why-supreme-court-upheld-sasikalas-conviction-20069

Copy of Judgement:

http://www.pdf.investintech.com/preview/b24248e8-f2a9-11e6-89aa-002590d31986/index.html

Airtel Payments Bank - Every Mobile Number can become an Account Number

Government is talking about digital payments. Banks are talking about Internet/Mobile Banking. Directly or Indirectly  they all are talking about telecom services and when a telecom giant Airtel decided to enter into Banking World establishing JV with Kotak Mahindra Bank Ltd. We can guess what next. Initially banking would be limited at Airtel, but with Over 1 million merchants onboarded across India, 2.5 lakh banking points in all 29 states and Investment of over Rs. 3000 Crore, Offering  High Interest Rate on Saving A/c &  Most of Services totally Free, Mr. Sunil Bharti Mittal has revealed his Intention. He could envision - Every Mobile Number is a Bank Account Number. Innovation has no limit for a true entrepreneur like Mr.  Sunil Bharti Mittal. 

AIRTEL BANK

Score Card of Indian Inter-Net Start-ups

Except Book My Show. All Companies are in loss as on 31.03.16. Heavy Advertisement Cost on Wrong Medium, Wrong Discount Policies, No Manpower Planing, Fail to outsource some projects, Excessive Fixed Cost, Misuse of Funding, Low Quality Standards are few reasons for the same other than other than Government strange Policies and Plans causing pain to many industries including e-commerce (for few short term but for many may lasting many months).

How to get free credit report score from CIBIL

How to get free credit report score from CIBIL. Unfortunately in India even some very honest people get low credit score or rating for their no fault. Credit Card Companies, Mobile Service Providers, Banks submit false reports, as while issuing credit card, it is given as life time free card, but next year charge annual fees and in case of non-payment/dispute ....... Similarly Telecom Companies & Banks mis-represent facts. So, It is good to have access over own credit scores. Even now, It does not give complete basics, still you may know, if there is something wrong with your credit score.

Link: http://www.simpletaxindia.net/2017/02/how-to-get-free-credit-report-score-cibil.html

Removal of limits on withdrawal of cash from Saving Bank Accounts.

Removal of limits on withdrawal of cash from Saving Bank Accounts

RBI/2016-17/224
DCM (Plg) 3107/10.27.00/2016-17

February 08, 2017

All Banks

Dear Madam / Sir,

Removal of limits on withdrawal of cash from Saving Bank Accounts

1.Please refer to our circular DCM (Plg) 2905/10.27.00/2016-17 dated January 30, 2017 on the captioned subject.

2. In the wake of withdrawal of Specified Bank Notes (SBNs) since November 09, 2016 Reserve Bank had placed certain limits on cash withdrawals from Savings / Current / Cash credit /Overdraft accounts and withdrawals through ATMs. On a review of the pace of remonetisation, Reserve Bank partially restored status quo ante by removing the restrictions on cash withdrawals from Current / Cash credit / Overdraft accounts and ATMs effective January 31, 2017 and February 01, 2017 respectively. However, the limits on cash withdrawal from Savings Bank accounts continued to be in place.

3. In line with the pace of remonetisation, it has now been decided to remove the restrictions on cash withdrawals from Saving Bank accounts (including accounts opened under PMJDY) in a two step process as under:

i.  Effective February 20, 2017, the limits on cash withdrawals from the Savings Bank accounts will be enhanced to ₹ 50,000 per week (from the current limit of ₹ 24,000 per week); and

ii. Effective March 13, 2017, there will be no limits on cash withdrawals from Savings Bank accounts.

4. Please acknowledge receipt.

Yours faithfully,

(P Vijaya Kumar)
Chief General Manager              

                            

GST Impact on Supply without Consideration & Importation of Services

GST Impact on Supply without Consideration & Importation of Services

Cash handling charges on Savings/ Salary A/c Revised

Bill Passed In Lok Sabha: Wages To Be Paid Through Cheque, E-Transfer

A bill, under which specified industrial units will have to pay salaries and wages to workers only either through cheques or by electronic transfer to their bank accounts, was passed by the Lok Sabha.

“The initiative is aimed at promoting the welfare of workers,” Labour Minister Bandaru Dattatreya said, adding that the legislation was aimed at bringing transparency, promoting digital economy and timely payments of wages to workers.

The Payment of Wages (Amendment) Bill 2017, which was passed by a voice vote, enables the Centre and states to specify the industries which will come under the ambit of the new provision for which the Government had brought an Ordinance in December, he said, observing that the bill was a tribute to the memory of Bhim Rao Ambedkar.

Asked why the government had brought an Ordinance on the issue, the minister said it was an extra ordinary situation.

“If you will give more support, we will do more for workers…we need to further improve the situation of workers,” he said, adding more and more bank accounts of workers would help them get full wages.

During a discussion on the bill, MPs from almost all political parties including Congress, Trinamool Congress and TDP supported the measure but came down hard on the government for taking the Ordinance route to bring the provision, saying it was the result of “post demonetisation syndrome”.

As per the bill, employers will have to pay wages to workers through cheques or credit their bank accounts without obtaining written authorisation of the employees.

It replaces the Payment of Wages (Amendment) Bill 2016, which was introduced in Lok Sabha on December 15, 2016 and also seeks to repeal the Payment of Wages (Amendment) Ordinance 2016 promulgated on December 28, 2016.

The Minister said the ordinance was promulgated because the bill introduced on December 15, 2016 could not be taken up for consideration and passage in Lok Sabha. The decision to adopt ordinance route to amend the Act was taken by the Union Cabinet on December 21.

“The legislation will benefit the workers who are vulnerable to exploitation. It will also help them get minimum wages, provident funds and other benefits,” he said.

Participating in the debate, N K Premachandran of RSP slammed the government for promulgating the Ordinance saying such a route is taken in an extraordinary situation. He also accused the government of encroaching on the law-making domain of Parliament.

“This government has taken the Ordinance route 26 times and 11 times, Ordinance was repromulgated…It is a fraud on the Constitution,” he said.

Adhir Ranjan Chowdhury (Congress) also attacked the NDA government for the promulgating the Ordinance and cited certain loopholes in the current legislation. He also demanded that adequate infrastructure be put in place to implement the provision.

Source: http://newsworldindia.in/business/bill-passed-in-lok-sabha-wages-to-be-paid-through-cheque-e-transfer/

Scenarios where you cannot Avail Input Tax Credit.

Scenarios where you cannot Avail Input Tax Credit.

http://blogs.tallysolutions.com/scenarios-where-you-cannot-avail-input-tax-credit/

Prayer - A Talk with God

एक बेटी ने एक संत से आग्रह किया कि वो घर आकर उसके बीमार पिता से मिलें, प्रार्थना करें |

बेटी ने ये भी बताया कि उसके बुजुर्ग पिता पलंग से उठ भी नहीं सकते |

जब संत घर आए तो पिता पलंग पर दो तकियों पर सिर रखकर लेटे हुए थे |

एक खाली कुर्सी पलंग के साथ पड़ी थी | संत ने सोचा कि शायद मेरे आने की वजह से ये कुर्सी यहां पहले से ही रख दी गई |

संत – मुझे लगता है कि आप मेरी ही उम्मीद कर रहे थे !

पिता – नहीं, आप कौन हैं ?

संत ने अपना परिचय दिया और फिर कहा – मुझे ये खाली कुर्सी देखकर लगा कि आप को मेरे आने का आभास था |

पिता – ओह ये बात ! खाली कुर्सी … आप …आपको अगर बुरा न लगे तो कृपया कमरे का दरवाज़ा बंद करेंगे |

संत को ये सुनकर थोड़ी हैरत हुई, फिर भी दरवाज़ा बंद कर दिया |

पिता – दरअसल इस खाली कुर्सी का राज़ मैंने किसी को नहीं बताया | अपनी बेटी को भी नहीं |

पूरी ज़िंदगी, मैं ये जान नहीं सका कि प्रार्थना कैसे की जाती है ! मंदिर जाता था, पुजारी के श्लोक सुनता, वो सिर के ऊपर से गुज़र जाते , कुछ पल्ले नहीं पड़ता था |

मैंने फिर प्रार्थना की कोशिश करना छोड़ दिया, लेकिन चार साल पहले मेरा एक दोस्त मिला | उसने मुझे बताया कि प्रार्थना कुछ नहीं भगवान से सीधे संवाद का माध्यम होती है |

उसी ने सलाह दी कि एक खाली कुर्सी अपने सामने रखो, फिर विश्वास करो कि वहां भगवान खुद ही विराजमान हैं |

अब भगवान से ठीक वैसे ही बात करना शुरू करो, जैसे कि अभी तुम मुझसे कर रहे हो |

मैंने ऐसा करके देखा, मुझे बहुत अच्छा लगा | फिर तो मैं रोज़ दो-दो घंटे ऐसा करके देखने लगा | लेकिन ये ध्यान रखता कि मेरी बेटी कभी मुझे ऐसा करते न देख ले |

अगर वो देख लेती तो उसका ही नर्वस ब्रेकडाउन हो जाता या वो फिर मुझे साइकाइट्रिस्ट के पास ले जाती |

ये सब सुनकर संत ने बुजुर्ग के लिए प्रार्थना की, सिर पर हाथ रखा और भगवान से बात करने के क्रम को जारी रखने के लिए कहा |

संत को उसी दिन दो दिन के लिए शहर से बाहर जाना था, इसलिए विदा लेकर चले गए |

दो दिन बाद बेटी का संत को फोन आया कि उसके पिता की उसी दिन कुछ घंटे बाद मृत्यु हो गई थी, जिस दिन वो आप से मिले थे |

संत ने पूछा कि उन्हें प्राण छोड़ते वक्त कोई तकलीफ़ तो नहीं हुई ?

बेटी ने जवाब दिया – नहीं, मैं जब घर से काम पर जा रही थी तो उन्होंने मुझे बुलाया, मेरा माथा प्यार से चूमा,

ये सब करते हुए उनके चेहरे पर ऐसी शांति थी, जो मैंने पहले कभी नहीं देखी थी |

जब मैं वापस आई तो वो हमेशा के लिए आंखें मूंद चुके थे | लेकिन मैंने एक अजीब सी चीज़ भी देखी,

वो ऐसी मुद्रा में थे जैसे कि खाली कुर्सी पर किसी की गोद में अपना सिर झुकाया हो | संत जी, वो क्या था ?

ये सुनकर संत की आंखों से आंसू बह निकले, बड़ी मुश्किल से बोल पाए – काश, मैं भी जब दुनिया से जाऊं तो ऐसे ही जाऊं |

Source: http://hindishortstory.com/inspiring-stories-in-hindi/prayer/