PENSIONERS OWN MEDIA ' RPND' PUBLICATION MARCH 2019 ISSUE
Sri.S.Ramasundaram from Kadapa has donated a
sum of Rs.1000/- for our building fund. Sri.P.V. Samuel from Kottayam has
donated a sum of Rs.1000/- towards our building fund. Sri.P.Soma Sekharan,
Executive committee member, NFRP has donated a sum of Rs.1000/- towards our
building fund. NFRP is moved by the spirit of solidarity shown towards our
Federation by these subscribers and is extremely thankful to them.
An open letter for the kind attention of Dr
Jitendra Singh, Hon’ble Minister of State in the
Ministry of Personnel, Public Grievances and Pensions;
SCOVA is the forum to ventilate the
grievances of Pensioners before Minister of State in charge of the Department
of Pension and Pensioners’ Welfare. National Federation of Railway pensioners
wishes to bring to the kind notice of your good self that major federations of
Pensioners’ Associations are ignored by the DOP&PW while reconstituting
SCOVA. Associations with poor representation are inducted in the SCOVA in the
name of identified Pension Association. They are sanctioned grant by the
Government. Tax payers’ money is spent to conduct SCOVA meeting. According to
our information no major issue concerning the pensioners was solved in the
meeting. Thus, the intention of formation of SCOVA to redress the grievance of
Pensioners is defeated. It is time to constitute SCOVA with handpicked major
representatives of pensioners and give it the status of JCM, thus making ensuring
that the decisions taken by this body are implemented by concerned departments.
Railway Pensioners are having following
grievances on the pension drawing banks. We request Hon’ble Minister to look
into these grievances and arrange to take action as deemed fit:
1) According to the
instructions issued by the Government, the pension paying banks are responsible
to recover the Income tax from the pension amount. While deducting the Income
tax, the Bank is not taking into account the deduction and relief admissible to
the Pensioners. Form 16 is not issued in time to the pensioners to file tax
return within the due date.
2) Some pensioners are
having fixed deposit in the banks from the settlement amount received from the
Railways at the time of retirement. This federation brings to your notice that
income tax at the rate of 10% is being recovered by the banks in the name of
TDS. Up to 5 lakhs, the deduction can be made at the rate of5% of the income in
addition to cess. While furnishing the income tax return, the pensioners are to
seek refund from the income tax Department. Of course, the Income tax
Department is arranging refund with interest.
3) In the month of
November every year, the pensioners have to furnish life certificate to the
bank for the continued drawal of pension. The Government had issued orders
clearly indicating that pensioners can furnish digital life certificate. But
the orders are not followed by the banks. When the pensioners approach the
banks for the purpose of furnishing digital certificate during this year, they
were given forms with three pages to furnish details. The banks should be
advised to accept digital life certificates without any supplementary queries.
Similarly, when the pensioner wishes to present himself in person, digital life
certificate should not be insisted since some pensioners have difficulty in
getting their finger print matched.
4) Reserve bank has
issued instructions that disbursal of pension should be spread over the last
four working days of the month except the month of March. It has been brought
to our notice that some do not follow this schedule.
Even though SCOVA is the common forum for all
Central Government Pensioners, the problems faced by Defence Pensioners,
Railway Pensioners and Central Government pensioners are different from each
other. Very often, the problems of some departments have to be carried forward
for next meeting for want of time. We request that the feasibility of
conducting separate meetings for Railways, Defence and other Central Government
pensioners may be considered to provide greater scope for redressal of
grievances.
Government of India; Ministry of Finance, Department of Expenditure
No. 1/1/2019-E-II (B)North Block, New
Delhi Dated the 27th February, 2019.
OFFICE MEMORANDUM
Subject: Grant of Dearness Allowance to Central
Government employees - Revised Rates effective from 1.1.2019.
The undersigned is
directed to refer to this Ministry's Office Memorandum No. 1/2/2018-E-ll (B)
dated 7th September, 2018 on the subject mentioned above and to say that the
President is pleased to decide that the Dearness Allowance payable to Central
Government employees shall be enhanced from the existing rate of 9% to 12% of
the basic pay with effect from 1st January, 2019.
2. The term 'basic pay' in the revised
pay structure means the pay drawn in the prescribed Level in the Pay Matrix as
per 7th CPC recommendations accepted by the Government, but does not include
any other type of pay like special pay, etc.
3. The Dearness Allowance will
continue to be a distinct element of remuneration and will not be treated as
pay within the ambit of FR 9(21).
4. The payment on account of Dearness
Allowance involving fractions of 50 paise and above may be rounded to the next
higher rupee and the fractions of less than 50 paise may be ignored.
5. The payment of arrears of Dearness
Allowance (from January to March) shall not be made before the date of
disbursement of salary of March, 2019.
6. These orders shall also apply to
the civilian employees paid from the Defence Services Estimates and the
expenditure will be chargeable to the relevant head of the Defence Services
Estimates. In respect of Armed Forces personnel and Railway employees, separate
orders will be issued by the Ministry of Defence and Ministry of Railways,
respectively.
7. In so far as the employees working
in the Indian Audit and Accounts Department are concerned, these orders are
issued with the concurrence of the Comptroller and Auditor General of
India.Sd/-(Nirmala Dev) Deputy Secretary to the Government of India
S.No. PC-VII/ 127 RBE No.
23/2019
GOVERNMENT OF INDIA MINISTRY OF RAILWAYS, RAILWAY BOARD
No. PC-V/2016/MACPS/1 New Delhi, dt.
12-02-2019
The General Managers All Indian
Railways and PUs.
Sub: Fixation of pay of the employees who got
promoted to the post of higher Pay level after being granted the benefit of pay
fixation on grant of financial upgradation under MACPS.
The issue regarding regulation of pay
fixation when the promotion to a higher pay level takes place in the 7th CPC
period after the employee has already availed the benefit of pay fixation on
grant of Financial Upgradation under MACPS has been under consideration for
quite some time. It has been decided in consultation with DoP&T that the
pay fixation benefit on grant of MACP after 7thCPC may be regulated
in the following manner:-
(i) Benefit of pay fixation available at
the time of regular promotion shall also be allowed at the time of financial
upgradation under the Scheme (as prescribed in Para 13 of RS(Revised Pay)
Rules, 2016).
(ii) There shall, however, be no further
fixation of pay at the time of regular promotion if it is in the same pay level
as granted under MACPS.
(iii) However, at the time of actual
promotion if it happens to be in a post carrying higher pay level than what is
available under MACPS, then he shall be placed in the level to which he is
promoted-at a cell in the promoted level equal to the figure being drawn by him
on account of MACP. If no such cell is available in the level to which
promoted, he shall be placed at the next higher cell in that level. The
employee may have an option to get this fixation done either on the date of
promotion or w.e.f. the date of next increment as per the option to be
exercised by him.
2. This has the approval of the
Finance Directorate of Ministry of Railways.
3. Hindi version is enclosed.sd/-(Subhankar Dutta)Dy. Director, Pay Commission-V Railway Board
GOVERNMENT OF INDIA; MINISTRY
OF RAILWAYS, (RAILWAY BOARD)
2016/F(E)III/1(1)18, New Delhi, dated: 25.01.2019.
The
GMs/Principal Financial Advisors, All Zonal Railways/Production Units,
Sub: Settlement Forms to be filled by the
retiring Railway servant.
Attention of the Zonal Railway/Production
units is invited to Board’s letter of even number dated 12.11.2018 on the above
subject vide which a set of settlement forms to be filled in by the retiring
railway employees was circulated. The said set of settlement forms has been
modified to include the option for Cashless Treatment Scheme in Emergency
(CTSE) as well.
2. Accordingly, in
partial supersession of the letter dated 12.11.2018, a modified set of
settlement forms is enclosed herewith for compliance and guidance. Other
instructions contained in the letter dated 12.11.2018 will remain the same.
3. Please Acknowledge
receipt. (G. Priya
Sudarsani) Director, Finance(Estt.) Rly Bd.
D.A.: As above.
Attention of the Zonal Railway/Production
units is invited to Board’s letter of even number dated 12.11.2018 on the above
subject vide which a set of settlement forms to be filled in by the retiring
railway employees was circulated. The said set of settlement forms has been
modified to include the option for Cashless Treatment Scheme in Emergency
(CTSE) as well.
GOVERNMENT OF INDIA; MINISTRY
OF RAILWAYS, (RAILWAY BOARD)
No. F(E .(E)II1/2008/PN1/12 New Delhi, Dated :04.02.2019RBE
No. 17/2019
The GMs/Principal Financial Advisors, All
Zonal Railways/Production Units,
Subject:- Revision of pension w.e.f.
01.01.2006 of Pre-2006 pensioners who retired from the 5th
cpc scale of Rs/- 6500-10500/- regarding.
A copy of Department of Pension and
Pensioners’ Welfare (DOP&PW's) O.M No. 38/33/12-P&PW(A) dated 4th
January, 2019 on the above subject is enclosed for information and compliance.
These instructions shall apply mutatis mutandis on the Railways also. CCS
(Revised Pay) Rules, 2008, correspond to Railway Services (Revised Pay) Rules,
9008. The Ministry of Finance, Department of Expenditure’s O.Ms No. 1/1/2008-IC
dated 30.08.2008 and 43.11.2009, mentioned in the DOP&PW's O.M. dated
04.01.2019, have been adopted on Railways vide this office's latter No.
PC-VI/2008//RSRP/1 dated 11 09.2008 and PC-VI/2009/I/RSRP/8 dated 22.12.2009
respectively.
2. The Railway Board's
instructions corresponding to the DOP&PW's instructions referred to in
their aforesaid O.M. dated 04" January, 2019 are given under:-
DOP&PW’s instructions | Railway Board’s
corresponding instructions.
O.M. No.
38/37/08-P&PW(A) dated 01.09.2008 | Letter No.F(E)II/2008/PN1/12 date
08.09.2008
O.M. No.
38/37/08-P&PW(A) dated 28.01.2013 | Letter No.F(E)III/2008/PN1/12 dated
11.02.2013
O.M. No.
38/37/08-P&PW(A) dated 30.07.2015 | Letter No.F(E)INI/2008/PN1/12 dated
31.07.2015
G. Priya Sudarsani)Director, Finance (Estt.),Railway
Board.
GOVERNMENT OF INDIA; MINISTRY
OF RAILWAYS, (RAILWAY BOARD)
No. 2016/AC-11/21/8/Pt
III New Delhi, dated: 13.02.2019RBA No. 9/2019
PFAs and
PCPOs, All Indian Railways & PUs
Sub:
Minutes of meeting of Board (FC & MS) with PFAs and PCPOs of CR, ER, NR and
WR held
on 08.02.2019 in Board's office to discuss
issues related on NPS and Pension
Minutes of
the meeting held on 08.02.2019 in Railway Board by Board (FC & MS) with
PFAs and PCPOs of CR, ER, NR and WR is enclosed for information and necessary
action.
DA: As
above.(Anjali Goyal) Pr. Executive Director/Accounts Railway Board.
Minutes of meeting of Board (FC & MS)
with PFAs and PCPOs of CR, ER, NR and WR held
on 08.02.2019 in Board's office
A meeting
was held in Board's office chaired by Board (FC & MS) on 08.02.2019 with
the PFAs and PCPOs of CR, ER, NR and WR to discuss the issues related to
National Pension System (NPS) and Pension. The list of participants is at
Annexure I. Minutes of the meeting are as under.
1.0 Opening Address:
1.2 FC
mentioned that the main two areas of staff grievances are National Pension
System and Revision of Pension.
1.2 FC invited
attention to the Gazette notification issued on 31.01.2019 after Cabinet
decision regarding compensation for non-deposit or delayed deposit of
contributions.
1.3 He
emphasized the importance of regular deduction of subscription against each PRAN
of eligible employees and timely upload of details on NPS-CRA website and
transfer of funds to the Trustee Bank as per stipulated time line.
1.4 He also
stressed the need to review the MIS available on the Dashboard by Nodal
Personnel and Accounts officials, periodically, and take corrective measures on
lapses/delays observed therein.
1.5 He
emphasized that Railways are the custodian of employee's funds and thus
Railways are duty bound to ensure that there are no lapse on their part.
1.6 FC stated
that another area of concern is delay in revision of Pension, mainly due to
non availability of Service Records of a no. of pensioners.
1.7 He
mentioned that while most of the Railways have made commend able achievement,
some are lagging behind badly.
1.8 MS mentioned
that the Railways are relying on the ARPAN data but much of the data is not
available in ARPAN.
1.9 He
emphasized need to review the gap between Pension Scrolls i.e the no. of
pensioners to whom revised pension is being made and the no. of Pension revised
- PPO issued.
1.10 MS also
highlighted complaints non-inclusion of names in PPOs like that of widowed
daughter/unmarried daughter/disabled children etc. in the revised PPOs. This
aspect should be looked upon.
1.11 As
regarding NPS, MS stated that there are many cases regarding non-issue of PRAN
during the initial period of NPS. PRAN should be generated within the specified
time and 100% subscription deducted from the employees should be accounted for.
1.12 There has
been demand for withdrawal of NPS as the employees are not aware of the
advantages of the scheme. Their doubts need to be allayed.
1.13 The PFAs
and PCPOs should try to understand the problems and put in efforts to bring out
solutions to these problems.
2.0 Agenda
Items:
2.1 National
Pension System (NPS)
WR and ER
informed that the delay in subscribers’ registration was mainly of Bungalow
peons, substitutes and Apprentices. For permanent employees, the number is very
less.
CR informed
that there were many cases where the subscribers were absconding after joining
Railways. PED/A informed that such cases should be flagged and brought to
notice of NSDL. It was reiterated to make it mandatory for new entrants to
submit PAN, Bank Account details and PRAN registration form duly filled along
with joining report. CR brought out that delay in many cases pertain to RPF as
they have their own establishment. FC & MS desired that instructions on
subject should be disseminated to CSC/RPF by PCPOs and PFAs.
All old
cases should be cleared within next two months by deputing Welfare Inspectors
wherever felt necessary.
Railways
also suggested to explore the feasibility of online submission of PRAN
Registration forms, which was agreed to. PED/A mentioned that PRAN generation
is being delayed due to rejection of registration forms also. Personnel and
Accounts should ensure completeness of forms w.r.t. employment details,
mandatory details and required documentation etc. so that the rejection of the
CRSF1 form is minimized. Information about rejection is made available on NPS
website accessible to both Personnel and Accounts, immediately.
Position of
NPS fund deducted from subscribers without PRAN is available to respective PAOs
(Personnel/Accounts in IPAS). This implies that the NPS fund is retained by
Railways in suspense and will lead to loss of interest to subscribers.
Immediate action required is required in this regard.
NSDL has deactivated the non-active Non-IRA
PRANs in the system. However, there are cases where there are active Non-IRA
PRANs.
PRANs that
have not received a single credit since PRAN generation need to investigate
these cases to rule out any irregularity.
Substantial
data gaps also exist in No. of Registered Subscribers and those receiving
Credits. The contributions should be remitted on date of payment of salary
itself and non-credit cases must be only those cases where salary is not drawn
for any reason.
Nomination
and Mobile no. should be collected from every subscribe to prevent issues at a
later stage.
Review of
the data also shows a no. of PAOs have not submitted funds. Railways mentioned
that this is due to merger of Accounting Units. PED/A mentioned that PAOs with
NIL subscribers should be deactivated in consultation with NSDL.
Railways
should ensure that the Transaction ID of the SCFs uploaded on N PSCRA website
are matched at the time of fund transfer to Trustee Bank so that there are no
rejections. The Railways need to review and ensure strict compliance of the
instructions.
Railways
should also streamline the system to ensure crediting of NPS fund to correct
subscriber. There are a number of instances where funds are credited to PRAN
1instead of PRAN 2, Excess/wrong Transfer to a PRAN etc.
Personnel
and Accounts Dept should also ensure timely resolution of grievances in the
Central Grievance Management System.
A no. of
withdrawal cases (Death Superannuation, exit) are pending for verification/
authorisation by Personnel and authorised by Accounts. Railways may review and
ensure timely action
In a few
cases, funds remitted by Trustee Bank to subscribers (on account of withdrawal
request) or to Railways (non-NPS withdrawal or excess transfer etc) are
returned back to Trustee Bank for want of correct/incorrect Bank Account no. ,
invalid IFSC code, Bank account closed etc. Railways need to ensure that
correct bank details are provided while processing case.
There are
withdrawal requests pending for purchase of annuity as the subscriber has not
chosen the Pension plan in these cases. Employees that have exited should be
asked to make the option.
There are
cases of pending pension/family pension under NPS in Railways. These issues are
being raised by Union/Federations and also by the beneficiaries in various
forums. Railways may take necessary action in the matter immediately and that
no delay on part of Railways.
Complaints
are also received regarding non-revision of NPS pension as per recommendation
of 7th CPC. Railways need to expedite and take necessary action.
2.2 Pension
Revision
There are
1,14,069 cases in IR where revised PPOs are not initiated. Railways informed
that these are hard core cases where data is not available. These need to be
pursued and revised PPOs be issued at the earliest. The option of getting a
copy of PPOs from Banks should be explored to fast track revision of pension
cases due to non-availability of records with Railways
Similarly,
PPOs of those drawing pension through Post offices and Treasuries need to be
speeded up.
Railways
may interact with Banks and keep Accounts Dte. informed of the meeting so that
the issue can be taken up with highest level of Banks centrally.
e-PPOs need
to be adopted for error free, delay free transmission and also for MIS reports.
Issues, if any, need to be brought to the notice of Accounts Dte in Board
office for taking up with CRIS and Banks.
Spot check
by Welfare inspectors are also needed apart from Accounts Dte.
Dedicated
cells should be formed in Personnel Department for Pension and NPS matters to
coordinate with counterpart teams in Accounts. PED/A requested MS to nominate
an Executive Director in Railway Board also for coordination with Railways on
NPS and Pension matters.MS agreed for the same. DG/Personnel shall issue
necessary orders in the matter.
3.1 Conclusion
PED/A
summarized the decision taken in the meeting for necessary action as under:
Online
registration for generation of PRAN shall be explored.
PRAN
registration form should be sent with appointment letter and obtained at the
time of joining PRAN generation be ensured within one month of joining so that
there are no cases where deductions are made and money is lying in suspense.
DDOs/PAOs
need to access the dashboard and analyse the MIS reports about NPS performance.
As regards
revision of pension, Railways need to get in touch with CPPC of bank and get
the details/PPOs for processing revision in a time bound manner.
All
Railways shall ensure that e-PPOs are issued on banks covered in the scheme. In
case of any problem, the same may be brought to the notice of Board (Accounts
Dte) so that the same can be taken up with Banks/CRIS. Now that CRIS has an
upgraded its system, no bank should have problem in accepting the ePPO file.
PFAs shall
ensure check of the pension debits to see that pension is being paid as per
revised PPOs.
Railways
may form dedicated cell for pension and NPS in Personnel Department. Further,
there should be a designated ED in charge of all pension related in Estt
Directorate also matters as a counterpart to Accounts Dte.
4.0 Vote of
thanks.
Meeting
ended with vote of thanks to the chair.
GOVERNMENT OF INDIA; DEPARTMENT OF EXPENDITURE MINISTRY OF FINANCE
CENTRAL PENSION
ACCOUNTING OFFICE
TRIKOOT-II, BHIKAJI CAMA PLACE,NEW Delhi-110066
CPAO/IT &Tech/Master data/14
(Vol-III)/2018-19/226 28.02.2019
Minutes
of the Meeting
Kindly find enclosed the Minutes of the
Meeting held on 24.01.2019 at 11:00 AM at Conference Hall of Central Pension
Accounting Office (CPAO) with all Heads of CPPCs/ Government Business Divisions
of State Bank of India to review the implementation of 7thCPC
pension revision and to discuss other issues under the Chairmanship of Chief
Controller (Pensions) for information and further necessary action.
Sr. Accounts Officer (IT & Tech)
Minutes
of the meeting held on 24.01.2019 with all the Heads of CPPCs/ Government
Business Divisions of State Bank of India (SBI) to discuss various issues.
A Meeting was held on 24.01.2019 under the
Chairmanship of Chief Controller (Pensions) with the representatives of Heads
of CPPCs/ Government Business Divisions of State Bank of India (SBI) to discuss
the timely payment of revised pension and arrears under 7th CPC and other
pension related issues. At the outset, Asstt. Controller of Accounts (ACA)
welcomed all the participants and emphasized on the need of timely payment of
revised pension and arrears in the accounts of the pensioners by the banks.
After that agenda items of the meeting were discussed in detail and following
decisions were taken.
List of participants is attached at Annexure.
Agenda Item No. 1- Implementation of 7th CPC
Pension Revision and its reporting by Banks
It
has been observed from the reports as on 21st Jan, 2019 that there are delays
in crediting the revised pensions as well as arrears of pensions/family
pensions by the banks. As per the reports, there are many cases which are
pending for more than 31 days. Bank wise details of the pending cases was
handed over to all the representatives of the concerned banks. But most of the
banks reported that in some cases they had already revised and credited pension
to the pensioner /family pensioner accounts. It was decided that all the CPPCs
would reconcile the status of revised pension cases provided to them by 1st
March. 2019.
(Action: SBI CPPCs/ NIC CPAO)
Agenda Item No. 2 - IT related issue w.r.t.
e-Revision and fresh Pension cases
Acknowledgement of SSA
SBI is requested to ensure forwarding the
acknowledgement of SSA electronically to CPAO at the earliest so that the
difference between SSA forwarded by the CPAO and SSA received by the Bank could
be nullified. Bank was also provided the format for Acknowledgement.
(Action: SBI/ NIC CPAO)
Development of e-PPO Booklet
Earlier, CPAO shared the format of electronic
PPO booklet for making necessary changes in the pension processing software of
banks for consuming the electronic PPO booklet with banks. All banks were
instructed to make necessary changes in their software in the meeting held on
31st Jan, 2018 and 27th June, 2018. Copy of format of e-PPO with sample
e-PPO,files have been e-mailed to all the Banks. SBI is requested to take
necessary action.
(Action : SBI CPPC)
Agenda Item No. 3- Compliance of Internal
Audit observations on 7th CPC revisions.
It has been observed that clear and complete
compliance reports are not being submitted by the CPPCs. The CPPCs were
requested to give full details of the objection raised by Internal Audit Wing
in their compliance reports so that the same could be verified and settled.
Internal control in Bank to be improved and strengthened so that errors should
not take place.
Agenda Item No. 4- Timely commencement of
family pension, additional pension & restoration of commuted portion of
pension by banks
It has been observed that family pension,
additional pension and commuted portion are not timely commenced/restored.
Since these issues are regularly discussed in the various meetings i.e. SCOVA
Meeting, High Level Meeting, Standing Committee Meeting, etc. All the CPPCs
need to commence this timely to mitigate the grievances.
(Action: SBI CPPCs)
Agenda Item No. 5- Timely submission of Life
Certificates-
CPAO is responsible for the disbursement of
death/disability pension under NPS Additional Relief. First time
identification of the pensioners is being done by the Bank branches based on
the KYC details available with the Banks where the pensioners/ family
pensioners have opened their pension accounts. CPAO starts the pension payment
based on the first time identification report received from Banks. Also these
banks branches are responsible for sending the life certificates of the
pensioners/family pensioners to CPAO for the continuation of pension to NPS-AR
pensioners, in the month of November as CPAO is the disbursing authority under
NPS-AR cases. However, it is noticed that in many cases, despite submission of
life certificates by the pensioners, bank branches have not forwarded the same
to CPAO. Bank for advised to ensure that these reports /certificates are
furnish to CPAO in time so that pensioners are not put under any financial
hardship.
Keeping in view the hardship being faced by
the family pensioner s, concerned SBI was advised to send the outstanding life
certificates to CPAO without any further delay.
(Action: SBI CPPCs & NPS Section)
Agenda item No.6 - Return of Old PPO by the
Banks.
Allotment of 12 digits PPO Number
It has been observed that the 12 digit PPO
number has not been obtained by the banks in respect of 4951pensioners from the
CPAO and still incorporating the old alpha numeric cod e in the payment scroll.
Bank wise details are also provided to them. Banks were requested to obtain the
12 digit PPO number from CPAO so that pensioners could avail the facility
provided by the CPAO viz lodging grievances, know their PPO status and also
check their payment details due to non-allotment of 12 digit numeric PPO
number.
Return of Inactive PPOs.
Pension Payment orders which are not in
operation / inactive may be returned to CPAO for deletion from the CPAO
database. It is noticed from the database of CPAO that the old PPO which are
inactive are not being forwarded by the bank to the CPAO.
(Action: SBI CPPCs)
Agenda Item No. 7- Submission of e-scrolls
and Master Data Reconciliation
Submission of e-scrolls
It has been observed that there is no
improvement in submission of e-scrolls by CPPCs. The bank wise details were
also provided to the banks. Banks should ensure that e-scrolls are updated on a
daily basis to CPAO after matching it thoroughly with the pension payments
made. The Banks should further ensure that the date of scroll should match with
date of transaction appeared in the put through statement issued by RBI.
(Action: SBI CPPCs)
Master Data Reconciliation
It has been observed that there is inordinate
delay in uploading of Master Data by the banks. For updating on Master Data at
CPAO level, it is required that whenever any value in the pension of a
pensioner/family pensioner is changed the same is reported by the bank through
Format-F of e-Scroll. However, it is noticed that banks are not providing the
changed information to the CPAO. All the banks were instructed for
reconciliation of Master Data and submission of changed information in Format-F
on "quarterly" basis instead of on "annual" basis. It was
also decided to nominate one Nodal Officer by each CPPCs of all authorized
banks and CPAO as well.
(Action: SBI CPPCs and NIC)
Agenda Item No. 8- Any other point with
permission of the chair
a) Grievances: -
Under Grievances module of WRPS, up to 18th
Jan, 2019; 6040 grievances have been disposed of through WRPS and 1098
grievances are pending with CPPCs of State Bank of India. Out of these pending
grievances, 1 grievance IS pending for more than 90 days which is a cause of
concern. Banks are requested to ensure that all the grievances are disposed of
which are pending with them within one month and update the same on the WRPS
portal so that pensioners are informed accordingly.
(Action: SBI CPPCs/(NIC) CPAO /Grievance
Cell)
b) Officials from PCDA, Allahabad, Deptt. of
Telecommunication (DOT) and Deptt of Post were also invited as per Meeting
Notice vide CPAO/IT &Tech/Master data/14 (Vol JU)/2018-19/184 .Their.
issues are follows: -
i) Defence Accounts: -
a) SBI was suggested
to develop a mechanism for acknowledgement of e-PPOs.
b) It has been
observed from the e-scrolls received in the O/o PCDA that some of the CPPCs are
crediting pension and Family pension very late in the account of pensioner.
CPPCs were requested to improve their performance and credit the pension/family
pension on time.
c) All the CPPCs are
requested in the meeting to provide PPO image to them to facilitate data
purification.
d) It was also pointed
out that SBI Hyderabad is receiving cases which pertain to SBI Amravati.
e)
All the CPPCs of SBI were requested to attend the meeting as and when it is
convened by the PCDA.
(Action : SBI CPPCs)
ii) Department of
Telecommunication: -
a) Outstanding amount
of excess / overpayment made by the banks to the pensioners are not recovered
by the banks.
b) Pension Payment
orders which are not in operation / inactive may be returned for deletion from
the database.
c) Banks were advised
to ensure that there should not be any delay in timely payment of Pension/
Family Pension.
d) SBI CPPCs were
advised to reconcile the data and credit the payment of revision of pension to
the pensioners as per 7th CPC.
(Action: SBI CPPCs)
iii) Ministry of
Railways
a) It was pointed out
in the meeting that the CPPCs are not submitting the E-scroll in time. Banks
has been requested to reconcile the data at the earliest.
b) All the CPPCs are
suggested to develop a mechanism for acknowledgement of e-PPOs.
(Action: SBI CPPCs)
Reconciliation of Suspense Balance: -Reconciliation
of suspense account have been a major issue. Generally, payment scrolls are to
be submitted on next day of payment to CPAO. But the payment scrolls are not
submitted by the banks on time. Some banks reported that scrolls are shown
successful but there are not recorded on CPAO's website. NIC, CPAO is to look
into the matter to solve the issue. CPPCs are requested to clear the suspense
balance at the earliest.
(Action: SBI CPPCs)
The meeting ended with a vote of thanks to
the chair.
DISCLAIMER: For detailed provisions and
regulations, please refer PFRDA (Exit and Withdrawal under National Pension
System) Regulations 2015 and subsequent amendments under it.
Question
& Answer
1. What is an exit?
An exit is defined as closure of individual pension
account of the subscriber under National Pension System.
2. When can I exit from NPS?A subscriber can exit from NPS at any point
but complete withdrawal is subject to certain conditions.
3. Whether pre-mature exit and voluntary retirement are same or not?
Yes, under NPS both are same. Pre-mature exit is defined under NPS as exit
before the superannuation/retirement age. Under NPS, Voluntary retirement is
treated as pre-mature exit.
However, eligibility & terms of Voluntary retirement are defined/
governed by service rules and regulations of the respective organization.
4. What shall be my benefits, if I opt for pre-mature exit from NPS?
a).Pre-mature exit
or Voluntary retirement-
Minimum Annuitisation-
80% of accumulated wealth.
Maximum Lump sum
Withdrawal- 20% of accumulated wealth.
If the accumulated
pension wealth of the subscriber is equal to or less than one lakh rupees or a
limit to be specified by the Authority, such subscriber shall have the
option to withdraw the entire accumulated pension wealth without purchasing any
annuity.
b). In Case of
disability/incapacitation of subscriber
Minimum
Annuitisation- 40% of accumulated wealth.
Maximum Lump
sum Withdrawal – 60% of
Accumulated wealth.
Authority has also
notified regulations under PFRDA(exit and withdrawal under NPS) (third
amendment) 2018, for facilitating
normal exit from NPS to the subscribers with disability and incapacitation
during the accumulation phase, if
employer certifies that the subscriber has been discharged from the services of
the concerned office on account of invalidation or disability.
5. What shall be my benefits, if I retire / superannuate from NPS?
Retirement I Superannuation –Minimum
Annuitisation- 40% of accumulated wealth.
Maximum Lump sum Withdrawal- 60% of accumulated
wealth.The Subscriber may choose to purchase an annuity for an amount greater
than 40 percent also.
If the accumulated pension wealth of the subscriber is equal to or less
than two lakh rupees, or a limit to be specified by the Authority, such
subscriber shall have the option to withdraw the entire accumulated pension
wealth without purchasing any annuity.
6. What are the provisions to
settle the cases in the unfortunate death of the NPS subscriber during the
service?
1. As per Office
Memorandum No. 38/41/06/P&PW (A)
dated. 05.05.2009, the central
government subscribers covered under NPS are eligible for family pension
in case of death/ disability during the
service.
2. If the family member opts for family pension, as per regulations all
the accumulated wealth shall be transferred to the bank account of the nodal
office for further settlement as per government directives.
3. However – our exit regulations say (not applicable as
mentioned above)
i. In case of Death: Minimum
Annuitisation- 80% of accumulated wealth.
Maximum Lump
sum Withdrawal- 20%
of accumulated wealth.
4. If the accumulated pension wealth of the subscriber is equal to or less
than two lakh rupees, or a limit to be specified by the Authority, such
nominees/legal heirs shall have the option to withdraw the entire accumulated
pension wealth without purchasing any annuity.
7. What are the provisions to
settle the cases in the unfortunate death of the NPS subscriber during the
service and no nomination has been provided in the account?
Where no valid nomination exists in accordance with
these regulations, at the time of exit of such subscriber on account of death,
the nomination, if any existing in the records of such subscriber with his or
her employer for the purpose of receiving other admissible terminal benefits
shall be treated as nomination exercised for the purposes of receiving benefits
under the National Pension System. The employer shall send a confirmation of
such nomination in its records, to the National Pension System Trust or the
central record keeping agency, while forwarding the claim for processing.
8. Can I defer my lump sum in No. case of pre-mature exit from the system? No
9. Can I defer my lump sum in case of retirement / superannuation? If yes,
what are the provisions and requirements to avail this facility? Yes.
The lump sum can be deferred till the age of 70
years which can be withdrawn at any time
superannuation and 70 years of age or every year till age of 70 years. The
subscriber has to give in writing (intimation to the employer) in the specified
form at least fifteen days before the attainment of age of superannuation and same should be
authorized by the associated Nodal office in the CRA system. If deferment is
availed by the subscriber, subscriber has to bear the maintenance charges like
CRA, PFM etc.
10. Can I defer my annuity at the time of retirement/superannuation? If
yes, what are the provisions?
Yes. Annuity purchase can also be deferred for
maximum period of 3 years. The subscriber has to give in writing (intimation to
the employer) at least fifteen days before the attainment of age of superannuation
and same should be authorized by the associated Nodal office in the CRA system.
If the death of the subscriber occurs before such due date of purchase of
an annuity after the deferment, the annuity shall mandatorily be purchased by
the spouse.
11. Can I defer both lump sum and annuity at the time of
retirement/superannuation? Yes.
12. Can I keep on contributing in my Tier-1 account even after retirement /
superannuation?
Yes. The Subscriber shall have the option to do so
by giving in writing and up to which age he would like to contribute to his
individual pension account but no exceeding seventy years of age.
In such scenario, subscriber has to shift his/her PRAN to any POP or
e-NPS. Nodal office shall not assist in
uploading of contribution after the date of superannuation. Subscriber has to
operate account in his/her individual capacity only.
Such option shall be exercised at least fifteen days
prior to the age of attaining sixty years or age or superannuation, as the case
may be, and same should be authorized by the associated Nodal office in the CRA
system.
Such subscriber who has not exercised the option
within the period of fifteen days, so stipulated, but desires to continue with
his individual pension account under National Pension System, beyond the age of
sixty years or the age of superannuation, as the case may be, and to the extent
so permitted, may do so by making an application in writing with reasons for
such delay to the National Pension System Trust, within one hundred and eighty
days of attaining such age or superannuation.
Where an application is received by the National
Pension System Trust, from any subscriber, beyond the period of one hundred and
eighty days, together with justification and sufficient cause, so shown by the
subscriber, the National Pension System Trust, shall cause to forward such
application along with its recommendation thereon, for consideration and
approval of the Authority.
Subscriber has to bear the maintenance charges like
PoP, CRA PFM etc.
13. If I continue my Tier-1 account even after retirement / superannuation,
Can I avail the facility of deferment of lump sum and annuity during the
extended period?
No, Upon exercise of the option of continuation
after the superannuation, the other options of deferment of benefits (lump sum
and annuity) shall not be available to superannuation, such a subscriber.
14. Can I terminate my extension any time before the attaining the age of
70 years or I have to continue the Tier -1 till the age of 70 years?
Even after exercise of such option, the subscriber
may exit at any point of time from National Pension System, by submitting a
withdrawal request as prescribed.
15. Who shall bear the transaction and other charges, if I avail the
facility of continuation of Tier-1 account after the retirement /
superannuation?
Subscriber has to bear all the applicable charges
including maintenance charges like PoP, CRA, PFM etc., if he avails such
facility.
16. Can I continue my Tier-2 account after the closure of Tier -1 account? No.
Upon exit from Tier-1 account, the Tier-2 account
gets closed automatically.
17. Can I continue my Tier-2 account, if decide to continue Tier-1 account
even after the retirement / superannuation?
Yes. A subscriber can contribute to his Tier 2
account till the time he has an active Tier 1 account.
18. What is annuity? An annuity is a
product that pays out regular income. It
is a contract for deferred payment. The main objective of an annuity is to give
regular income to the subscriber even after retirement working age.
19. In case of pre-mature exit, when will my annuity start, i.e.
immediately or after the or age of 60 years?
Annuity starts immediately after the minimum age
required for purchasing any annuity. (Depending upon choice of ASP and Annuity
scheme. For e.g. 30, 35 38) from any of
the empanelled annuity service providers. Subscriber need not wait till the age
of 60 years.
20. What are the annuity options available to me under NPS?
The following are the most common variants that are
available:
a. Default scheme: Annuity for
life of the subscriber and his or her spouse (if any) with provision for return
of purchase price of the annuity- After
the demise of such subscriber, the annuity will be re-issued to the family members
in the order specified hereunder:
b. living dependent mother;
c. living dependent father.
After the coverage of all the family members specified
above, the purchase price shall be returned to the surviving children of the subscriber
and in the absence of children, the legal heirs of the subscriber, as may be
applicable.
If subscriber does not want to purchase default
annuity scheme, he may choose any of the following schemes:
b. Annuity for life with return of
purchase price(amount given to annuity service provider) on death– Employee
shall get annuity (monthly pension) till he/she is alive and payment ofannuity
ceases on the death and the purchase price is returned to the nominee.
c. Annuity guaranteed for 5,10, 15 or 20 years and for life
thereafter
• On death
during the guarantee period – Employee shall get annuity and after his/her
death during the guaranteed period, annuity is paid to the nominee till the end
of the Guaranteed period after which the same ceases and no return of purchase
price to the nominee.
• On death after the guarantee period –Employee
shall get payment of annuity till he/she is alive even after the guaranteed
period and annuity ceases after his/her death and no return of purchase price
to nominee.
d. Annuity for life – Employee shall get payment of annuity till he/she is
alive &payment of annuity ceases on death and no return of purchase price
to nominee.
e. Annuity for life increasing at simple rate of 3% p.a. Employee shall get payment of annuity till
he/she is alive & payment of annuity ceases on death and no return of
purchase price to nominee.
f. Annuity for life with a
provision for 50% of the annuity to the spouse of the annuitant for life on
death of the annuitant- Payment of annuity ceases on death of subscriber and
50% of the annuity is paid to the surviving named spouse during his/her life
time. If the spouse predeceases the annuitant, payment of annuity will cease
after the death of the annuitant. It can be with or without return of purchase
price.
g. Annuity for life with a provision of 100% of the annuity payable to
spouse during his/her lifetime on death of the annuitant. - Payment of annuity
ceases after death of the annuitant and full annuity is payable to the
surviving named spouse during his/her life time. If the spouse predeceases the
annuitant, the annuity ceases after death of the annuitant. It can be with or
without return of purchase price.
Subscriber can also add spouse in any of the
variants (Other than default) above.
All ASPs may not provide all the variants. It may
vary from ASP to ASP.
Pricing of annuity also varies ASP to ASP.
21. Whether I have to go by the default annuity or I have a choice to
decide other annuity type also?
The subscriber can choose any other annuity, other
than default annuity, available with the empanelled Annuity Service Providers
(ASPs).
22. Where can I check the rates offered by the annuity service providers on
various types of annuities? Details of annuity rates and other details may be
checked on CRA website (link given below).https:llwww.npscra.nsdl.co.in/annuity-service-providers.php
23. Can I change my annuity service provider or annuity type any time?
Once an annuity is purchased, the option of
cancellation or reinvestment with another Annuity Service Provider or in other
annuity scheme shall not be allowed unless the same is within the time limit
specified by the Annuity Service Provider, for the free look period as provided
in the terms of the annuity contract or specifically provided by the Insurance
Regulatory and Development Authority.
24. What functions are performed by Annuity Service Providers (ASPs)?
Annuity Service Providers (ASPs) are empanelled by
PFRDA to annuity to subscribers through their various schemes. Subscribers will
have the option to invest their amount into one annuity scheme upon retirement/
resignation. ASPs would be responsible for
delivering a regular monthly pension
(annuity) to the subscriber for the rest of his/her life.
25. Is it mandatory to purchase annuity under NPS at the time of exit?
Yes, but there are some scenarios where the subscriber/nominees/legal
heirs can withdraw the whole accumulated wealth.
26. Which companies are empanelled under PFRDA as Annuity Service Providers
(ASPs)?
1. Life Insurance Corporation of India
2. SBI Life Insurance Co. Ltd.
3. ICICI Prudential Life Insurance Co. Ltd.
4. HDFC Standard Life Insurance Co Ltd
5. Star Union Dai-ichi Life Insurance Co. Ltd
*Subject to change from time to time.
27. Will get back the amount invested for annuity purchase?
Only in annuity types where there is a provision of return
of purchase price.
28. In case of retirement /
superannuation, when should I submit my withdrawal request i.e. after the date
of retirement or before the retirement? CRA
network sends a communication 6 months before the superannuation/ retirement date
generating a Claim ID to the subscriber and nodal office. It is advisable that
the subscriber should submit all the documents to the nodal office at least 1
month before the superannuation/retirement date.
29. Can I withdraw before attaining the age of retirement / superannuation?
Yes, it is termed as Partial Withdrawal.
30. If yes, how much amount can be withdrawn?
Up to 25% of the contribution made by the subscriber
(without considering the appreciation/returns on the amount) as on date of application
of withdrawal.
31. Can I withdraw any number No. of times during the service?
A subscriber is allowed to withdraw only three times
during the entire tenure of service.
32. What are the conditions under which partial withdrawal can happen?
Conditions:
1. The subscriber shall have been in the National Pension System at least
for a period of three years from the date of his or her joining;
2. Withdrawal is allowed for some
specific purposes only.
a. For the higher education of
children
b. For the marriage of children
c. For the purchase/construction of
residential house or flat in his or her own name or in a joint name with his or
her legally wedded spouse. In case, the
subscriber already owns either individually or in the joint name a residential
house or flat, other than ancestral property, no withdrawal under these
regulations shall be permitted.
d. Treatment for prescribed illnesses – suffered by subscriber, his
legally wedded spouse, children including a legally adopted child and dependent
parents.
Prescribed illnesses include: (i) Cancer;(ii)
Kidney Failure (End Stage Renal Failure);
(iii) Primary Pulmonary Arterial Hypertension; (iv)
Multiple Sclerosis;(v) Major Organ Transplant;(vi) Coronary
Artery Bypass Graft; (vii) Aorta Graft Surgery;(viii) Heart Valve
Surgery; (ix) Stroke;(x) Myocardial Infarction;(xi) Coma; (xii)
Total blindness; (xiii) Paralysis;(xiv) Accident of serious/ life
threatening nature.(xv) Any other critical illness of a life-threatening
nature as stipulated in the circulars, guidelines or notifications issued by
the Authority from time to time.
e. To meet medical and incidental expenses arising out of the disability
or incapacitation suffered by the subscriber.
f. Towards meeting the expenses by subscriber for skill
development/re-skilling or for any other self-development activities, as may be
permitted by the Authority by issuance of appropriate guidelines, in that
behalf
g. Towards meeting the expenses by subscriber for establishment of own venture or any start-ups, as may be
permitted by the Authority by issuance of appropriate guidelines, in that
behalf.
33. If I avail partial withdrawal facility, will I get the same benefit as
applicable at the time of retirement/superannuation? Yes.
34. Whether I am eligible for Gratuity? Yes, as per latest OM No. 7/S/2012-P&PW (F)/B dt.
26.08.2016 issued by Department of Pension and Pensioners Welfare, the Central
Government employees covered under NPS are eligible for ‘Retirement Gratuity and
Death Gratuity’.
35. What are tax benefits available under IT Act, 1961 for Tier 1 Account?
I. On Contributions: -Employee’s
own Contribution- Eligible for tax deduction under sec 80 CCD
(1) of Income Tax Act up to 10% of salary
(Basic + DA) within the overall ceiling of Rs. 1.50 Lakhs under Sec. 80 C of
the Income Tax Act. From F.Y. 2015-16, subscriber will be allowed tax deduction
in addition to the deduction allowed under Sec. 80CCD(1) for contribution in
his NPS account subject to maximum of
Rs.50,000/- under sec. 80CCD 1(B).
Employer’s
contribution: Upto 10% of Basic & DA (no upper monetary ceiling) under
80CCD (2). This rebate is over and above 80 C. (This tax benefit is only
Available for NPS subscribers).
II. Partial Withdrawal- Tax free.
III. Lump sum Withdrawal- In case of superannuation, lump sum withdrawal (40
% of the accumulated corpus) is tax free.
IV. Annuity- Amount utilized for purchase of annuity is not taxable in the
hands of the subscriber.
36. What are tax benefits available under IT Act, 1961 for Tier 2 Account?
No tax benefit is available for Tier 2 account.
37. Whether employer can withhold the contributions under NPS? Yes; Employer
can withhold its co-contribution along
with income accrued on it under Tier-I account of the subscriber and the
investment income accruing thereon, for the purpose of recovery of the whole or
part of any pecuniary loss caused, provided such loss is established, in any
departmental or judicial proceedings, initiated against such subscriber by the
employer concerned
2. Right of withholding shall have to be exercised prior to the date of
superannuation of the subscriber, pursuant to a notice to be given to the
National Pension System Trust or an entity to whom such authorization has been
given, and seeking to withhold the said pension wealth of such subscriber. Upon
such right of withholding being validly exercised-
i. the pension wealth which are
payable under the National Pension System shall not be paid to such subscriber
until the conclusion of the departmental or judicial proceedings, as the case
may be and subject to the final orders, passed in such proceedings.
ii. the amount withheld as specified in sub-clause (i) shall remain
subscribed to the scheme in the mode and manner in which it was held prior to
resorting to such action by the employer specified, and the final settlement of
the withheld amount shall be made by the National Pension System Trust, or any
intermediary or other entity, authorized for this purpose by the Authority, in
normal course within ninety days of the receipt of an appropriate order from
the concerned employer;
iii. the amount withheld becomes payable to the subscriber on the final
settlement, as certified by the employer specified, which has sought
withholding of such benefits, and shall be paid to the subscriber as soon as
possible and in no case beyond ninety days of receipt of the final order by the
National Pension System Trust or any other entity or person, authorized for the
purpose by the Authority;
38. What happens if the nominee predeceases the subscriber?
If the nominee predeceases the subscriber, the
nomination shall so far as it relates to the right conferred upon the said
nominee, become void and of no effect;
39. Can I distribute amount/percentage of fund under nomination?
Yes, a subscriber may in his nomination distribute
the amount that may stand to his credit in the fund amongst his nominees at his
own discretion;
40. Can I make nomination in favour of a person not belonging to his
family? If a subscriber has a family at the time of making a nomination, the
nomination shall be in favour of one or more persons belonging to his family.
Any nomination made by such subscriber in favour of a person not belonging to
his family shall be invalid; the expression “family”,
i. in relation to a male subscriber, means his legally wedded wife, his
children, whether married or unmarried, his dependent parents and his deceased
son’s widow and children;
ii. in relation to a female subscriber, means her legally wedded husband,
her children, whether married or unmarried, her dependent parents, her
husband’s dependent parents and her deceased son’s widow and children;
Explanation II - In either of the above two cases,
if the child of a subscriber [or as the case may be, the child of a deceased
son of the subscriber] has been adopted by another person and if, under the personal
law of the adopter, adoption is legally recognized, such a child shall be
considered as excluded from the family of the subscriber.
41. Nomination made before such marriage shall be valid or not? A fresh
nomination is required to be made by the
subscriber on his marriage and any nomination made before such marriage shall
be deemed to be invalid. Source: npstrust
Please refer the original circular for further clarification NFRP
FINANCE CORNER [31.03.2019] VAANI
By : Pranav S. Desai Mobile no.9824006712 / e-mail- desaips786@gmail.com
Preamble: There are 3 Tax
Related Items worth knowing -
(i) Income Tax Rules for
F.Y. 2018 – 19 (To file in July 2019)
(ii) Income Tax Rules for
F.Y. 2019 – 20 (Tentative / Not Final)
(iii) Proposed Direct Tax
Code (For F.Y. 2020 - 21 ………?)
Please note that I.T. Rules for F.Y. 2018 –
19 were described in 31.03.2018 Writeup, and were illustrated with a numerical
example on 25.12.2018 already. [These write-ups can be eMailed upon request].
Still they are summarized below. As for F.Y. 2019 – 20, they were made ready on
08.02.2019 (with a correction sheet on 11.02.2019) – to be covered in VAANI
shortly. But real Final Rules for F.Y. 2019 – 20 will be passed & signed by
President of India in August 2019 (not now). Direct Tax Code expected
03.03.2019.
1. Who Has To
File In July 2019 ? (ITR - 1 / ITR - 2) :
Detailed guidelines on New Income Tax Return
(ITR) forms will be given in June 2019 or so. Here let’s review whether you
have to file at all? (Please
note : I am NOT familiar with ITR – 3 / 4.)
(i) If you have to get a
REFUND, obviously you must file.
(ii) If you were born
AFTER 31.03.1959 and your Gross Total Income is > 2.5 Lakh Rs. you have to
File.
(iii) If you were born
BEFORE 01.04.1939 and your Gross Total Income is > 5.0 Lakh Rs. you have to
File.
(iv) If you were born
BETWEEN the above 2 dates (inclusive) and your Gross Total Income is > 3.0
Lakh Rs. you have to File.
(v) If you have any
Foreign Asset / Income, you have to File
The
3 above figures (2.5, 3, 5 Lakhs) are THRESHOLDS (no tax below them).
What
is meant by Gross Total Income? You can take off Standard Deduction (40000 Rs.
from Salary / Pension; 15000 Rs. from Family Pension), any Professional Tax
paid to State Govt., and Interest on Home Loan upto 2 Lakh Rs. (Section 24.1),
disregard any Exempt Incomes (e.g. PF / PPF Interest, Mutual Funds’ &
Shares’ Dividends, Retirement Benefits, U.N. Payments – but Honoraria are NOT
exempt), then add up all your Incomes. In case of Capital Gains on Gold, House
/ Plot, Shares, Mutual Funds etc., all such Gains are also to be added EXCEPT
that : on LTCG (Long Term Capital Gain – held > 1 year) on shares & EOMF
(Equity Oriented Mutual Fund, Share % > 65) the first 1 Lakh is Exempt (Sec.
112 - A). Adding up all the incomes, with the above conditions, you arrive at
GTI (Gross Total Income). Here other deductions like 80-C (for specified
savings, children fees etc), 80-G (donations) etc. i.e. entire Sec. 80 deductions,
are NOT YET to be taken off in computing GTI. Add also CLUBBED incomes (if any)
of your spouse and daughters-in-law.
One category of persons MAY (not MUST, but
MAY) File Returns: Even with GTI below Threshold as indicated above, though you
are NOT required to File, you may still File (Zero Tax Return) because, often
Banks while sanctioning Loan, want to see 3 years’ Tax Returns. This applies to
Low Income persons, for example your maid – servant, gardener, cook et al. You
can pay their CA Fee Rs. 600 and help them File. Give salary by cheques.
2.
What Do You Have To Collate?
You have to separately collate (a) Normal Rate Incomes and (b) Special Rate Incomes, and (c) All the Taxes Deducted at Sources -
these are Form 16 (TDS from Pension or Salary) and Forms 16 – A (Quarterly TDS
from Interest), and (d) Sec. 80 Deductions.
Normal Rate Incomes include 4 types: Pension
or Salary, House Property Income, Income from Other Sources (e.g. Interest,
Annuity, Family Pension, Honoraria, Gifts from non – specified relatives or non
– relatives exceeding 50000 etc) and Short-Term Capital Gains (except on shares
/ EOMF’s). Note that from Interest of Banks / P.O., deduction is available
(10000 / 50000 by 80 TTA / TTB for age < 60, > 60).
Special Rate Incomes include Short Term
Capital Gains on Shares / EOMF’s (15% tax), Long Term Capital Gains on Shares /
EOMF’ (10% tax on any excess gain over & above 1 Lakh exempt), Long Term
Capital Gains on all other items (20% tax).
NB:-
(a) For Shares / EOMF’S,
short / long junction is 1 year; for others, 3 years.
(b) For Long Term Capital
Gains on Shares / EOMF’s, cost of item bought before 31.01.2018 is original or
31.01.2018 (higher).
(c) Short Term Capital
Gains on all assets AND Long-Term Capital Gains on Shares / EOMF’s are simple
nominal non-indexed profits. But Long-Term Capital Gains on all other Assets
means Indexed (using ratio of Cost Inflation Indexes). To waive tax on such
LTCG, deposit in 54-EC Bonds for 3 years OR buy House. (If sold House, use Cap.
Gain to buy House; any other sold: Use Total Sum).
(d) Among Sec. 80
deductions, 2 were raised from F.Y. 2018 – 19 : 80 – D (Health Insurance Premia
+ Max. 5000 Health Check Up Fee) raised from 30000 to 50000 ; 80 – DDB
(Specific Ailment Care) raised to 1 Lakh.
These limits are for Senior Citizens (>
60). For <60 -="" 18="" 19="" 2017="" 2018="" 25000="" 40000="" 80="" :="" ay="" continue="" ddb="" f.y.="" for="" he="" i.e.="" in="" issue="" limits="" list="" march="" o:p="" old="" sec.="" tabular="" unchanged.="" was="">
3.How To Arrive At Total Income & Tax? Total Income means
Net Taxable Income = All Incomes (GTI) Less Deductions (E.g. 1.5 Lakh 80-C). From the Net Taxable
Income, first find tax on ‘Special Rate Incomes’ at 10%, 15% or 20% as
indicated above. On the balance (i.e. NET NORMAL RATE INCOME after accounting
Sec. 80 deduction), find slab-wise taxes and add them up.
(i) On excess over 10
Lakhs, tax 30% on the excess
(ii) On 5 – 10 Lakhs span,
tax 20% on excess over 5 Lakh
(iii) On threshold to 5
Lakhs span, tax 5% on excess over threshold (But :> 80 persons do NOT have
this slab). Adding (i) + (ii) + (iii) you get the Normal Rate Tax.
Now add the Normal Rate Tax and all Special
Rate Taxes.
Claim Relief 89.1 if bunched - up arrears
pushed you unduly into higher tax slab. But this is easier said than done !
On balance tax, now add 4% cess. THAT IS YOUR
TOTAL TAX LIABILITY. Add interests @ 1% pm if you are < 60 and shortfall
existed in your Advance Taxes. If >60 : 207 (2) Sec. exempts you from
Interest.
Now from your total liability (Tax + Cess +
Interest) subtract TDS to arrive at SELF ASSESSMENT TAX – pay by 31.07.2019 in
Challan ITNS – 280 ticking 21 & 300 Boxes. Quote the Bank BSR & Challan
No. in ITR. FILE BY 31.07.2019, ELSE : FINE & PENAL INTEREST.
Special Case of Net Taxable Income upto 3.5
Lakh : You are eligible for ‘Rebate from Tax’ (Sec. 87A) = Tax upto max. 2500.
Eg. Age < 60, Net Income 3.35 Lakhs, Tax = 4250 – 2500 = 1750 + 4% Cess 70 =
1820.
4.Should You Use Pre-Filled ITR Return? A big NO ! You will do a fault if you just ‘okay’ your pre-filled
ITR which ITO is planning to send to everybody. There will be many lacunae in
it ! Incidentally, Govt. claims Efficient Assessment (2 days). It will be
‘impersonal’ / incognito.
5.Exempt Income:Though you have not to pay tax on it,
you have to declare in ITR.
39th Annual General Body Meeting of the Railway
Pensioners' Association, Palakkad-2
was held at the Anugraha Kalyana Mandapam,
Olavakode, Palakkad on 2-3-2019. Before commencing the meeting, members assembled at the venue
and Association's Flag was hoisted by Sri Syed Mohammed, President /RPA. Open
session then commenced. Sri. P.Syed Mohamed, Presided over the meeting. After
prayer by Smt. Sneha, Sri. A.Krishnankutty, Vice-President welcomed the
invitees and gave a brief account of the various activities being undertaken by
the RPA / Palakkad. Thereupon, Open Session was formally inaugurated by Sri. M P
Lipin Raj, Sr. DPO / PGT by lighting the ceremonial lamp. In his inaugural
address, Sri. Lipin Raj, expressed
happiness over the functioning of the Association in handling the grievances of
pensioners and about the welfare activities undertaken by RPA.
Shri.P.
Syed Mohamed, President, RPA in his
address, briefed the history of pension and the
struggle for achieving the same. He also stressed the need tomaintain
parity in pension between the old and current pensioners who formed a homogeneous
unit. Here quested all the members to unite as one to achieve our demands and keep
up the status of the pensioners high. Sri. K.C.Krishnankutty, President, NFRP / Palakkad who spoke next,
explained the steps being taken by the NFRP and other Federations to secure the
legitimate demands of the pensioners. He sought co-operation of all Pensioners
Associations in this regard. Cash assistance by the Association for medical
treatment for three pensioners was given by Sr. DPO / PGT. Thereafter 4 students
of Class X and 8 students of Class 12 (Plus2) who stood first in the Xth and
Plus 2 examinations of 6 Secondary / Higher
Secondary Schools situated in and around Olavakkode were given cash award of Rs.
1001/- each in recognition of their proficiency by Sr. DPO / PGT on behalf of RPA. Then, 18 pensioners
who have attained 80 years of age, were honoured with Ponnadai and a plaque by
Sri. T .Kumardas, IRTS, Chairman (Rtd), RCT, Sri. K. C. Krishnankutty, President, NFRP and Sri. K. Bhaskaran, Dy.
FA&CAO.,KRCL (Retd). The open session came to a close at 12.00
noon with Vote of Thanks, by Shri M. Prabhakaran, General Secretary.
The post
lunch session confined to members started at 02.00 p.m. SriP. Syed Mohammed,
President, RPA presided.He focused on the steps being taken by the RPA to serve
the interests of the pensioners and family
pensioners and sought the co-operation
of the members to move forward with more vigour. Sri M Prabhakaran, general
Secretary welcomed the members of General Body.
New Executive Committee for the years 2019-2022 was elected. Sri. R.Venugopalan,
functioned as the Returning Officer and declared as elected Sri. A. Krishnan kutty
as President, Smt. Janette Gowe and Sri. K. Anandaraj as Vice-Presidents, Sri. M. Prabhakaran as General Secretary and Sri. V
Venkiteswaran as Treasurer of the new Executive Committee. The following
members were nominated as Secretaries:
Sri.
B.K.Vivekanandan, Secretary(Office), Sri. V. Mohanan, Secretary(Office), Sri. R.
Ashok Kumar, Secretary(Office), Sri.P.Balan, Secretary (Rail Pensioner)
(Office), Sri. M.Sivasankaran, Secretary (Welfare).
Sri M.Prabhakaran,
General Secretary, RPA presented the Secretary's Annual Report for the period
from 1.1.2018 to 31.12.2018 and explained the salient features therein. Sri K.
Anand Raj, Treasurer, RPA presented the Accounts of the RPA, including those
relating to 'Rail Pensioner' and Welfare Fund for the Y.E. 31.12.2018. S/Sri.
V.K.Sreekumar, K.Thankappan, Antony Edathara, A.Devassy, Sukumaran,
K.Ramachandran, P.K.Panchaman and P.Vijayakumar took part in the discussions. General
Secretary's Report and the Financial Accounts were then passed unanimously. Sri.
V.Mohanan, Office Secretary, RPA moved the Resolutions, 20 in number. He also
moved a resolution for increasing the annual subscription for the tri-monthly Rail
Pensioner magazine from Rs. 50/- to
Rs. 60 with
effect from the year 2020 .After discussion, all the Resolutions were passed unanimously.
Smt. Janette Gowe, Vice-President, proposed vote of thanks and the meeting
concluded at 05.00P.M with singing of 'National Anthem'.
S.No
|
Name, Subs No.
& Station
|
S.No
|
Name, Subs No.
& Station
|
1
|
S.A.Pandian,
A 0563, TNKSI
|
32.
|
Abraham
Kandathil A4088 TRVLA
|
2.
|
N.S.Nanjundaiah,
A2427, BNC
|
33.
|
Rose
Alex Antony A4092 CNGRY
|
3.
|
Mahaprasad,
A2873, J.khand
|
34.
|
M.T.Abraham A4098 KTYM
|
4.
|
K.K.K.Menon,A2904,
PGT
|
35.
|
K.C.Rajasekharan
Panikkar A4099 KTYM
|
5.
|
Santhosh
Roy, A2906, WB
|
36.
|
V.G.S.Panikkar
A4110 TRVLA
|
6.
|
K.V.Nagaraj,
A2908, SA
|
37.
|
G.Sanjeeva
A4127 BAY
|
7.
|
Ganshyam
Prasad, A 3165, K.Khand
|
38.
|
K.K.Venugopal
A.4251 ALLP
|
8.
|
L.Nagarajan,
A3227, CBE
|
39.
|
C.Balachandran
A4252 TVM
|
9.
|
M.Krishnadas,
A3401, CBE
|
40.
|
John
Joseph A4257 ALLP
|
10.
|
M.V.Bhaskaran
Nair, A3479, TCR
|
41.
|
N.Rajendraprasad
A4260 KYYM
|
11.
|
O.P.Mohan,
A3483, CAN
|
42.
|
V.M.Thomas
A4261 KTYM
|
12.
|
S.Jayaram,
A3544, BNC
|
43.
|
V.Padmanabhan
A4265 ED
|
13.
|
P.Tata
Rao, A3546, Durg
|
44.
|
A.M.Kumaran A4270 CLT
|
14.
|
N.P.Janardhanan,
A3550, CAN
|
45.
|
Basel
Gabriel A4388 CLT
|
15.
|
P.V.Rajendran,
A3635, CAN
|
46.
|
T.V.Somanathan
4389 HSSN
|
16.
|
R.Vishnu,
A3659, PTJ
|
47.
|
K.R.Radhakrishnan
A4391 KTYM
|
17.
|
S.Vijayan,
A3673, TVM
|
48.
|
P.Thurpani A4398 CLT
|
18.
|
P.V.Dinesh,
A3806, CAN
|
49.
|
U.NarayananKutty A4405 PGT
|
19.
|
T.K.Dasan,
A3832, PGT
|
50.
|
K.Unnikrishnan
A4409 PGT
|
20.
|
R.Santha
Devi, A3857, PGT
|
51.
|
T.Balakrishnan,
A4408 PGT
|
21.
|
T.Mohammad,
A3901,CLT
|
52.
|
K.Chandrasekharan
A4479 PTJ
|
22.
|
K.K.Gopalan,
A3903, CLT
|
53.
|
P.V.Unnikrishnan
4492 KN
|
23.
|
M.K.RemaMadhavan
A3904, MLPRM
|
54.
|
C.P.Athmaraman A4493 CEN
|
24.
|
T.Balaram,
A3907, CLT
|
55.
|
T.Jose A4494 KTYM
|
25.
|
K.N.Anandan,
A3919, TCR
|
56.
|
M.P.Alexander
A4495 PGT
|
26.
|
P.O.Variath A3923,AFK
|
57.
|
K.P.Kunhammed A4496 CLT
|
27.
|
T.M.Mathews,
A 3927, ERN
|
58.
|
D.Jojikutty
A 4497 VYND
|
28.
|
V.Venkatachalam,
A3991, ED
|
59.
|
O.Mohanan
A4498 W.Hill
|
29.
|
K.Ramachandran,
A4026, CLT
|
60.
|
K.P.Aravidakshan
A.4499 MLPRM
|
30.
|
Shaik
Basheed, A4044, BAY
|
61.
|
V.K.K.Nair
A4500 CLT
|
31.
|
T.V.Prabhakaran,
A4057,PGT
|
Ensure
your overall health as you age with these healthy eating tips.
First,
the bad news: As you age, your metabolism slows down, your senses weaken and
you're more likely to develop chronic conditions. The good news: You can help
ensure your overall well-being over time, by making smart, healthy eating
choices. Here are 10 ways to improve your nutritional health as you age:
1.
Consume more liquids - As you age, your sense of thirst becomes lessens. To combat this,
MyPlate, a healthy eating initiative by the U.S. Department of Agriculture,
suggests drinking plenty of water throughout the day to stay
hydrated even if you don't exactly feel thirsty. Fat-free milk and 100-percent
juice are other options to consider besides water.
2. Eat a
variety of foods - Consuming
a variety of foods will ensure you're getting all of the nutrients you need.
According to the National Council on Aging, a healthy meal should
consist of a lean protein, fruits and vegetables, whole
grains and low-fat dairy.
3. Plan
your meals - If you
plan your meals throughout the week, you'll be less likely to stop following
your healthy eating habits. Consider preparing a week's worth of dinners, then
keeping them frozen until you need them.
4.
Minimize your use of table salt - As you age, your sense of taste declines. More
often than not, you'll want to season your dishes with salt to increase the
flavor. Unfortunately, the U.S. Food and Drug Administration reports that
consuming too much salt can lead to high blood
pressure, which
can ultimately lead to heart disease, stroke and kidney disease. Make sure
you're consuming no more than 2,300 milligrams of sodium every day.
5. Season
with herbs and spices - Instead of seasoning your foods with salt, use fresh herbs and spices.
Cayenne pepper, basil, sage, rosemary and turmeric are healthy choices that
are packed with flavor.
6. Read
nutrition labels - When
shopping for packaged and canned foods, check the nutrition label before making
the purchase. Even if it's advertised as a healthy choice, it could be loaded
with added fat, sodium and sugar that you won't find unless you read the label
carefully.
7. Follow
recommended servings - In order to maintain a healthy weight, it's very important to follow the
recommended serving sizes. Talk to your doctor if you want advice that caters
to you personally.
8. Reduce
sugar consumption - Refined
sugars are loaded with empty calories that offer no nutritional
value,
according to Help guide. Slowly reduce the sugary treats in your diet and start
eating whole foods that are naturally sweet, such as fruits, sweet peppers and
yams.
9. Choose
healthy fats - You
shouldn't cut all fats from your diet. Instead, just eliminate the saturated
and trans fats. Healthy monounsaturated and polyunsaturated fats can help
protect your body against disease and support mood and mental well-being. Olive
oil, avocado, nuts and fish high in omega-3 fatty acids are
excellent choices.
10.
Consider supplements - Eating fruits and vegetables is the best way to get the nutrients you
need, but sometimes, it's not enough. You may want to consider talking to your
doctor about taking supplemental vitamins and minerals to ensure your overall
health.
The doctor
said, "Your mother suffered a mild stroke.
She was brought to the hospital in time by the elderly couple sitting
there.The son thanked the elderly couple profusely. "I am sorry I don't
recognise you", he said. The lady replied that they didn't know him
either. The son was surprised.
"How do
you know my mother?" he asked. The
gentleman replied, "she is a member of our WhatsApp group". The son
looked dazed. The gentleman continued, "we
have a group on WhatsApp -The 60 Plus
Group”.
Everyone
sixty and above is a member. It is the duty of the members to enroll those in
their neighbourhood.Everyone has to send a "Good
Morning" message every day. Similarly, in the afternoon and night. The members can chat, exchange views, etc,
also. If we do not receive the mandatory messages every day, the neighbouring
members are alerted and they make it a point to visit the member.
This
morning, we didn't get the message from your mother. That's why we are here.
"It is not enough if you have provided your parents with all the
facilities money can buy," he continued. "They need people to talk
to. When was the last time you visited your mother?"
The son
couldn't answer immediately. "See, that's why we have this group.
Otherwise, we 60+ people would be talking to walls and windows", the
couple said as they left.
Don't forget
that while you are busy growing up, your parents are growing older.
Dedicated to
all those, who think, “WhatsApp is
nonsense”.
The secret of health for both mind and body is
not to mourn for the past, not to worry about the future, or not to anticipate
troubles, but to live in the present moment wisely and earnestly. Buddha
Date of Publication
28thMarch, 2019
RNI Registration No
KERENG 2012/47175 DATED 01.01.2013 Title RPND
REGISTERED under
Postal Registration No PGT/041/2019-2021.
G/100/RNP/RPND 28.09.2018
Licensed
to post without pre-payment.
License No. KL/PMG/NR/WPP/9-5/PKD/2019-2021
Posted at
RMS/Palakkad – 678002
Date
|
Name and station
|
ID No.
|
Amount in Rs.
|
Purpose
|
13.02.2019
|
S.Radhakrishnan, Hanamkonda
|
A2966
|
500
|
Building fund
|
13.02.2019
|
S.Ramasundaram, Kadappa
|
A3140
|
1000
|
Building fund
|
14.02.2019
|
P.V.Samuel, KTYM
|
A3896
|
1000
|
Building fund
|
07.03.2019
|
P.Somasekaran, PGT
|
LM051
|
1000
|
Building fund
|
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