Wednesday, July 30, 2014

Thank you Chronicle !

Thank you Chronicle for greeting the Muslim retirees on the occasion of 
Eid-ul-Fitr (Ramzan Festival) in a beautiful format.
This indicates that the Chronicle is mindful of all religions.
Thank you once again.

(...and a little proud too about that secular mind. -Ed.)

Defence Ministry fixes anomalies in rank pay case

Vijay Mohan
Tribune News Service
Chandigarh, July 27
The Ministry of Defence (MoD) has rectified some of the anomalies contained in its orders issued earlier to implement the judgment of the Supreme Court in the rank pay case pertaining to the Fourth Pay Commission.
On implementation of the Fourth Pay Commission, the component rank pay had been deducted from the salary of officers, while calculating their total emoluments and fixing their status vis-à-vis civilian officials. Consequently their emoluments were fixed lower than what they should actually have been if rank pay had been included in the calculations.
Similar anomalies also existed in the Fifth Pay Commission. The anomaly was only discovered years later and thereafter commenced a long legal battle, with the apex court finally ruling in 2010 that the deduction of the rank pay had been illegal.
When the MoD issued orders to implement the SC’s judgment, some phrases were “twisted”, resulting in not only the benefits being restricted to lesser number of officers, but also denying rectification of similar anomalies in the Fifth Pay Commission.
The SC had ruled that officers were entitled to befits and arrears “with effect from” January 1, 1986, but the MoD order stated that benefits would be given to officers in service “as on” January 1, 1986.
This implied officers who got commissioned after this date would not be granted the benefits even though the same pay commission was applicable to them. The service community had contended that the MoD’s orders were not in sync with the essence and sprit of the SC judgment.
While the Service Headquarters took up the issue with the government, a number of veterans, whose arrears and pension fixation were also affected, moved a contempt petition against the MoD. The MoD had also referred the matter to the Attorney General, who had given his opinion in favour of the officers on several issues.

The MoD’s orders issued on Thursday state that the words “as on 1.1.1986” in the earlier order be substituted by “w.e.f.1.1.1986”. New clauses have also been incorporated in the new order which state that similar benefits would also be extended for recommendations of the Fifth Pay Commission, which too contained the same anomaly pertaining to rank pay."
Received thru RK Sahni

Welfare measures to Retirees in Canara Bank

To Executive Director (P), LIC, Mumbai

Message attached for information and appropriate decisions for the benefit of LIC pensioners as it may be deemed proper.

Kind regards.
C H Mahadevan
(The following Canara Bank Retirees Federation letter alongwith true extract of the H.O. Memo No.70 :2014 dated 26.07.2014 from Human Resources Wing of Canara Bank relating to benefits to retired employees/family pensioners has been forwarded to LIC.)

Tuesday, July 29, 2014

Apply, apply - No reply

Dear sir,

Daily I see posts in the Chronicle about 100% DA
neutralisation and pension upgradation in RBI BANKS
BWDB B'LORE, etc but nothing about the progress in
our case. We have submitted memorandums and
met MPs, Ministers including Finance Minister
Arun Jaitely who promised to look into the matter to
settle our issues. Alas, no result has come out so far.
Association leaders want us wait patiently till 12 08 2014.
But what is the guarantee that it will not be adjourned...

We can not achieve our goals unless 1. SC gives a firm
verdict in our favour 2. LIC takes a decision to honour
HC/SC judgements (which will never happen) 3.The
Mof  directs LIC to honour HC/SC judgements.
Will any of these happen?

A V Subbaraman Coimbatore Division


Sri Arun Jaitley,
Finance Minister,
Government of India.
Most Revered Sir,

We draw your attention to the following facts for your consideration and immediate action.
1) Sri Muneeswarnath Bhandari,Single Judge of Jaipur Bench of Rajasthan High Court admitted two writ petitions filed by Sri Krishna Murari Lal Asthana on12th January 2010 with regard to
a) 100% Neutralisation of Dearness Allowance to Pre-August retirees of LIC
b) To revise pensions according to wage revisions effected in 1992, 1997, 2002 and 2007.
The Judge directed LIC to implement the resolution of the LIC Board dated 24th November, 2001.
The resolution was in respect of
i) Neutralisation of D.A and
ii) Upgradation of pension according to every wage revision.

The appeal of LIC challenging the above verdict was dismissed by the division bench of Rajasthan High Court on 21st January 2011. The review petitions filed by LIC on this verdict were dismissed by the Rajasthan High Court on 19th August 2011. The Punjab & Haryana High Court, Chandigarh High Court quoted the judgement of Sri MN. Bhandari and ordered LIC to pay the amounts due to pensioners with 12% interest. The Delhi High Court also quoted the Judgement of Sri MN. Bhandari and made it applicable to all pensioners. Two special leave petition filed by LIC before Supreme Court to set aside the judgement of Sri M.N.Bhandari were dismissed by the Supreme Court on 19th August 2013.
The Supreme court on 30-9-2013 rejected the prayer of LIC to grand stay on the operation of the judgement of Chandigarh High court in respect of Sri Mc Jain v/s LIC. This relates to fixation of pension according to wage revisions from 1992 to 2007. The above facts manifest the deliberate defiance court verdicts by LIC and its disregard for the majesty of the courts of law in our country.
We pray your good self to give proper directions to LIC to obey and take immediate steps for implementation of the verdicts of the courts. Nearly 10,000 pensioners died during this 16 year old litigation. It is not uncommon to hear regularly about the passing away of fellow pensioners. Please help us to live in peace in the twilight years of our lives by an equitable and just dispensation according to the verdicts of courts.
The memorandum dated 7th June 2014 handed over to Hon. Shri Venkaiah Naidu is already in your ministry. We earnestly hope that our prayers will be promptly addressed by you.
Thanking you,
Yours faithfully,
KKD.Hanumantha Rao,

31st July deadline to file your tax returns

Scrambling to file your tax returns before the 31st July deadline - If you haven’t filed your return yet, it’s time to get cracking. Here are the quick steps you can take to start filing NOW!
Getting Organized
  • You will need your Form 16. Your Form 16 has all the details you need to get started. Part A of this form has information of PAN, TAN and Address details of your Employer. You will need these details since you need to fill these fields in your Return. Part B of Form 16 has your salary details. Total Taxable Salary, Deductions, Tax Deducted and any tax due or refundable to you. Luckily, if you have disclosed all your incomes to your employer, your employer would have already deducted tax on those and considered those in this Form.
  • Another document you will need is your Form 26AS : Form 26AS is a storehouse of information all linked to your PAN number. Tax Deducted on your PAN, Advance Tax paid by you, self assessment tax paid by you. When banks deduct TDS on your income, it shows up on your Form 26AS. Similarly all the TDS deducted by your employer also shows up here. Use this summary to know of all the incomes you need to report and the tax deducted thereon.
  • Other documents like your bank statement – this will have your interest income. You’ll need interest payment and principal repayment details on your housing loan.
Start E-filing
  • E-filing really is smooth sailing, embrace it! Create your login on one of the e-filing portals. Online portals like ClearTax automatically populate your return when you upload your Form 16, you can even upload multiple Form 16s. You can enter the information manually too, if that feels more comfortable.
  • You can automatically populate your TDS details, ClearTax can pull out all our TDS information directly from the IT department’s website. A few clicks and all the data you need is there on your IT Return. You always choose to enter these details manually too.
  • Make sure you have captured all Incomes you have earned during the financial year and input them under relevant heads.
  • Take some time to review your Return for omissions, if any and tally in the final tax refund/liability if there is.
  • If all looks ok to you, click on E-file!
  • You are not done yet! Once you have successfully e-filed, your ITRV will be sent to your email id. You can also download it yourself.
  • Take a print of the ITR-V, sign it in blue ink and send it by ordinary or speed post (no couriers) to CPC, Bangalore. Remember, you need to send this document within 120 days of filing your return. You can check whether CPC received your ITR-V here.
  • Upon receiving your ITR-V, the IT department will send you an acknowledgement on email. That completes your Return filing process!

Don’t wait for the eleventh hour, File your return pronto!


that unending, futile search for happiness...
(Recd thru RK Sahni)

Monday, July 28, 2014

celebrated in Kerala on 29th July 2014

Acche Din Aane Wale Hai?

Parliament Members are soon to get a 75 per cent hike in their Pensions. That is from Rs.20000 to Rs.35000/-.

There is also a proposal to give service weightage to these public servants. If they are MPs for period in excess of 5 years there will be additional monthly pension for them. This increase would be 2000 p.m. 

There is no requirement of minimum service to be rendered.

Everyone must feel happy about this. Because the country will be happy and peaceful if peoples' representatives are kept happy and comfortable. 

does it happen in India...
Let us hope with this proposed increase which they grant themselves, they will not resort to twisting of mikes and breaking of furniture to give vent to their democratic outrages. They also get an allowance for attending parliament . Mind you " for attending." Even if the live footage shows empty benches. No wonder their example is followed by people. Do you not see vacant seats in offices inspite of full attendance? " Yadha Raja Tadha Praja." 

Now that the needs of parliamentarians is being met, we appeal to them to consider favourably the long pending issues of updation of pension etc., in financial sector

Employees get pensions on retirement. Do the politicians and parliamentarians retire on attaining certain age? It is the ungrateful people who force retirement on them? Even then they do not retire. Defeated parliament members can still hope for gubernatorial postings if they belong to ruling party. Whoever said Politics is a thankless job? 



'Wisdom' by Shri Dayal Sharan on facebook page.

"एक भारतीय ने अमेरिका के एक स्कूल में दाखिला लिया,स्कूल का पहला दिन था, अध्यापिका बच्चों से सवाल कर रही थी : : अध्यापिकाः आईये अमेरिका के इतिहास पर नजर डालकर पढ़ाई शुरु करते हैं। बताओ किसने कहा था ‘मुझे आजादी दो या मौत दे दे’ : पूरी क्लास खामोश रही सिर्फ भारतीय ने जवाब दियाः पेट्रिक हैनरी 1775 : अध्यापिकाः बहुत अच्छे, अब बताओ ये वाक्य किसका है, ‘धरती से जनता के लिए, जनता द्वारा, जनती की सरकार नहीं समाप्त होनी चाहिए’ : इस बार भी पूरी क्लॉस खामोश रही सिर्फ भारतीय ने जवाब दियाः अब्राहम लिंकन 1863 : अध्यापिकाः पूरी क्लॉस को शर्म आनी चाहिए,एक भारतीय छात्र को अमेरिका का इतिहास ज्यादा मालूम है। : इस पर एक छात्र पीछे से बोलाः ‘इंडियंस को मारो’ : अध्यापिका (गुस्से में)- ये किसने कहा : भारतीय - जनरल क्लस्टर 1862 : भारतीय के इस एक और जवाब पर एक अमेरिकी बच्चा बोला,

‘मैं उल्टी कर दूंगा’ : अध्यापिका (झल्लाते हुए)- अब ये किसने कहा : भारतीय - जार्ज बुश ने जापानी प्रधानमंत्री से 1991 में : अब पूरी क्लास झल्लाने लगी, एक अमेरिकी छात्र बोल पड़ा,‘ओह्ह ये, सक दिस’ : यह सुनकर भारतीय अपनी सीट से खड़ा हो गया अध्यापिका की ओर चिल्लाते हुए बोलाः बिल क्लिंटन टू मोनिका लेविंस्की, 1997 : : भारतीय के इस एक और जवाब पर पूरी क्लास का दिमाग खराब हो गया, किसी ने चिल्लाते हुए कहा, ‘अगर अब तुमने एक शब्द भी बोला तो मैं तुम्हारी जान ले लूंगा’ : यह सुनकर भारतीय पूरे जोश के साथ चिल्लायाः माईकल जैक्सन, अपने खिलाफ गवाही दे रहे बच्चे से, 2004 में : भारतीय के इस जवाब पर अध्यापिका बेहोश हो गई, सारे बच्चे उसके चारों और इकट्ठा हो गए। किसी एक ने कहा, ‘ओह्ह शिट, हम बुरी तरह फंस गए हैं’ इस पर भारतीय बोलाः जार्ज बुश, इराक युद्ध के दौरान 2007 : : भारतीय के इस जवाब से सारे बच्चे बेहोश हो गय"
(Recd thru RK SAHNI)


AIBRF Circular No. 2014/96 Dated 14.06.2014


A) We are happy to inform you that in the bipartite talk of 14-06-2014 the retiree issues were discussed and IBA informed as under:-

(1) IBA is favourably inclined to consider 100 percent 
Dearness Allowance to all retirees including pre-2002 retirees 
and have written to the government for approval. Approval is awaited.

(2) As regards improvement in family pension, IBA is favourably 
inclined to consider and will recom- mend to the government 
for approval after studying cost implications.

(3) As regards updation exercise for the past retirees, IBA is 
apprehensive about it in view of huge cost involved in it.

We feel it is big move forward on retiree issues. However we have to be vigil till our all demands are achieved in this settlement. We convey our thanks to UFBU leadership for taking the retiree forward..
UFBU Circular No. 24


After the last round of negotiations held on 14-3-2014, another round of discussions took place with IBA on 13-6-2014 in Mumbai in the background of the new Government taking over at the Centre after the general elections.

UFBU meeting: Prior to the discussions with the IBA, meeting of the UFBU was held. The meeting observed a minutes' silence to pay homage on the death of Dr Shanti Patel, veteran trade union leader of HMS and Port and Dock Workers. The meeting took stock of the developments since our last meeting held in March, 2014. The meeting welcomed the new Government under the Prime Ministership of Shri Narendra Modi and hoped that the basic problems of the people and workers would be addressed by the new Government. The meeting noted that in addition to the pending demands of  UFBU for wage revision, there are other challenges too like the recommendations of P J Nayak Committee, talks of dilution of Government's capital in Banks, merger of Banks, etc. The meeting decided to take a delegation of UFBU to the Finance Minister to apprise him of our issues and demands. Discussions with IBA: In the wage revision talks, the IBA was represented by Mr. T M Bhasin, Chairman of the Negotiating Committee along with other members. UFBU was represented by all the Constituent Unions.

Opening up the discussions, Mr. Bhasin explained the present banking scenario where the profits of the Banks have come down as on 31-3-2014 adding to the constraints of the Banks to take up any huge financial burden in the form of wages. After submissions from UFBU, IBA informed that they are willing to improve their offer from earlier 10% to 11% on the cost of Pay Slip components of the wage bill which would amount to Rs.3,465 crores and which would be exclusive of other costs on retirement benefits, LFC, hospitalization expenses, etc. From UFBU, we expressed our inability to accept this offer as the same was quite inadequate.

B) As regards other issues discussed with the IBA in the last two rounds of discussions, IBA informed that they are favourably inclined to consider the demand of extending 100% DA for all pensioners and the same is awaiting the approval of the Government. On our demand for improvement in Family Pension, IBA's response was positive but they informed that the cost implication has to be properly worked out and Government's approval is necessary for the same. As regards updation of pension, IBA was apprehensive about the same since it involves substantial financial burden to the Banks. IBA also informed that our demand for extending appointment on compassionate grounds in the Banks on the lines of Government scheme is under the active and positive consideration of the Government and their decision is awaited.

C) Since UFBU refused to accept the IBA's offer of 11% increase, IBA wanted to know the expectation of the UFBU for which it was informed that our minimum expectation is 25% increase in the Pay Slip components cost. IBAexpressed their total inability to accept the same as it is beyond the paying capacity of the Banks. With this,the talks ended inconclusively. Thereafter UFBU decided that since IBA has not come up with any adequate increase in their offer, further course of action would be taken shortly after mutual consultations amongst the Constituent Unions and also after meeting the Finance Minister in this regard. Further developments would be informed to units in due course.

D) NUBE Circular 5 of 2014 dated 14-06-14 states

The meeting of 13th June 2014 turned to be yet another futile, symbolic meeting with the yawning gulf separating policy pronouncements from the ground reality. Thus the 10th Industry-wide Bipartite Wage Settlement negotiations in the Banking sector have dragged on for more than one-and-a-half years now without making much headway.
After a gap of 3 months with the last negotiations held on 14-3-2014 which was especially for non- monetary issues raised by the unions, another round of discussions took place with IBA on 13-6-2014 in Mumbai. As usual, all the eleven unions have participated in this round also. IBA informed, profits of the Banks have come down as on 31-3-2014 and therefore they can offer maximum of 11% (increase of meager 1% our emphasis!) on the cost of Pay Slip components of the wage bill which would amount to Rs.3,465 crores and 4. which would be exclusive of other costs on retirement benefits, LFC, hospitalization expenses, etc. Since negotiating unions rejected the offer of 11% increase, IBA wanted to know the expectation of the union. A representative of the umbrella of nine unions informed that their minimum expectation is 25% It is pertinent to note that the 11% of pay-slip is not in consonance with the prevailing wages of comparable concerns. This is contrary to the views expressed in the Sastri Tribunal. Hence demand of the Bank employees for ensuring parity with Government employees / comparable institutions in fair just and right.
25% increase in the Pay Slip components cost.

It is pertinent to mention here that NUBE was the only union which while submitting its exhaustive charter of demands of 102 pages for tenth bipartite as early as 16-06-2012 itself, with justifications apriori demanded 45% over all increase on the establishment cost which works to 26.5% (Rs.8348 Crores) in pay slip costs.
IBA expressed their total inability to accept the same as it is beyond the paying capacity of the Banks. This stubborn stand of IBA is preposterous and is unacceptable to NUBE
 in view of the following reasons:

1. In all the previous settlements salary increase was given a load to total establishment expenses. In this wage negotiations we have been offered on fixed pay components. As against the total establishment expenses of Rs.56292 crores the pay slip component is only Rs.31503 crores.
2. While offer of 11% on establishment cost will work out to Rs.6192 crores, 11% of pay slips components expenses will amount to a measly figure of Rs.3465croresonly. Hence the offer of IBA for one million Bank employees is far below the amount offered during last bipartite settlement.
3. The first round of negotiations started only on 22-2-2013. During this 15 month period Gross non-performing assets (NPAs) of 40 listed Banks shot up by 35.2% or Rs.63,386 crore for the nine months ending December 2013 to cross the Rs.2.4 lakh crore mark. This jump of 35.2% was higher than the 27% rise witnessed in the first six months of the current financial year according to a study done by NPA, a portal which focuses on resolution of assets. Even if an infinitesimal of 1.83% of these NPA is recovered in tune with the policy plan of the present Finance Minster is expedited with all the seriousness, the demand of the union can be easily met without increase in the exchequer. If amount due from four largest willful defaulters which is around Rs.9384 crores, is recovered with all sincerity, it is enough to meet the demand of the unions without any burden and the so called capacity to pay peddled by the IBA will fall flat on four legs. The unions will be ever willing to support IBA/government if it initiates appropriate steps.
5. Even with 25% hike we will be just inching towards some semblance of parity with pay of government employees if we evaluate the projected salary in anvil in the wake of 7th Pay Commission.

E) On other issues : The only silver lining in the meeting was that IBA is favourably inclined to consider demand of extending 100% DA neutralization to all pensioners. IBA also seems to have shown positive response to improvement in Family Pension.  However, unions still need to do lot of work as IBA has not committed anything and only shown positive response. Thus, a ray of hope continues for pre-2002 retired Bank employees for 100% DA. As regards updation of pension, IBA has outlined it involves substantial financial burden to the Banks. This means in all sectors, including Central and State Government, whenever there is an industry wise wage increase, pension will also be increased. In Banking Sector it is not so. Hence a G.M retired 10 years back is drawing less pension than a clerk retiring now. IBA onceagain reiterated that our demand for extending appointment on compassionate grounds in the Banks on the lines of Government scheme is under the active and positive consideration of the Government and their decision is awaited. Needless to underscore here that proposal agreed between Unions and IBA is pending with Government for considerable period of time, therefore brooks no further delay.

F) Regarding Improvement of Hospitalisation Expenses, IBA reiterated that the scheme provided by them should be considered by the Union. A letter of reassurance from the service provider was also given to the Unions on the negotiation table.

On the issue of five days week, IBA said that looking to the approach of the new government at the centre for more working hours, it is not possible for them to pursue the issue any further.

G) Comrades, The preposterous, stubborn stand of IBA has shattered our hopes and battered our dreams of an early settlement. The entire workforce have felt the insult inflicted by IBA, who failed to live upto the expressions made by IBA Chairman in the first round of discussions held on 22-03-2013 that "the settlement would be concluded at the earliest with reasonable, respectable and comparable wage revision compared with external factors".
We should take a call on these adverse developments in toto and chalk out further agitational programmes of higher form to seize 10th Bipartite Wage Revisions from the unyielding hands, no holds barred.

H) Pension Updation: 
The relevance of the demand for Pension updation became more poignant in the light of the acceptance of one-rank one pension principle for retired defence Personnel announced in the recent interim budget of the GOI.
We prepared a note on our demand for pension updation and submitted it to Hon'ble Sri. P. Chidambaram, Finance Minister on 24-02-14 wherein we sought immediate implementation of pension updation for Bank pensioners also. A subsequent development is the following one.
Government gives in-principle agreement to implement Pension updation in Reserve Bank of India.

The following significant editorial has appeared in Reserve Bank Retired Employees' Association Mumbai Bulletin, Retirees' HITGUJ ISSUE DATED !5th APRIL 2014.
" At long last, Government accorded in principle approval for updation of pension with certain conditonalities which is a positive and encouraging development. The proposals are as under:

1. Pension updation once in 10 years as in Government,
2. Pension to be computed on pay and grade pay as in Government (this will require amendment to Pension Regulations),
3. Revision of pay scales once in 10 years,
4. All perks to be rationalised,
5. Pension option to be opened alongside.
This is a package

The Forum expressed their reservations and apprehensions. There is at present stalemate. Our Association sought audience with Shri R L Das, CGM, HRDM, for an update, on 19-03-2014. It emerged from the discussions that Govt. has accepted in principle that there is need for updation in RBI and the pension is expected to be aligned with the revision of pay scales effective from 1-11-2012 which is expected to result in same rank same pension. This information will be simulated. CGM also indicated that RBI can act within the provisions of RBI ACT, to take care of any misalignment with the Govt. salary and the Banking industry. CGM also told that the GOVERNOR was instrumental in breaking the ice on updation which was eluding for 6 long years. CGM also assured that representatives of our Association will be invited for discussions on matters concerning pensioners / retirees whenever occasion arises” AIBRF in one of its recent communication has stated "We have come to know from unconfirmed sources that Labour Minister and Department of Personnel in Home Ministry have prepared detailed note on pension updation in financial sector to be placed before the new government.

I) In this connection, we also invite reference to the memorandum submitted by us in November 2013 to Hon'ble Shri.V.Narayanasamy, then Minister of State Prime Minister office Ministry of Personnel, Public Grievancesand Pensions,GovernmentofIndia and which was receivedon 09-12-13 and registered as a grievance by the Ministry of Personnel, Public Grievances and Pensions, Dept of Pension & Pensioners' Welfare. Our representation was forwarded to Sri. S.C.Das, Deputy Secretary, Dept. of Financial Services (Banking Division) on 17-12-13 requesting him to have the representation examined and the grievance redressed within the time frame of 60 days. Thus you will find that all the above developments are inter connected and our organization has played a very significant role in making these things happen.

The third meeting of our Central Committee was held in Chennai on 19th April 2014. The Committee discussed about the various developments. The CC was appraised about SLP filed by our Association in Supreme Court of India and the in-principle agreement given by Govt for Pension updation in RBI. The Committee also discussed various organizational issues and chalked out various steps to strengthen our organization

Collections : R.B.KISHORE, VP, AIRIEF

Sunday, July 27, 2014

Re: filing returns


Due date for Filing Income Tax Return for Assessment Year 2014-15 for  Salaried Persons and other Assessees who are engaged in business and profession and whose turnover is less than  Rs. 100 lakh (in the case of business) and Rs 25 lakh (in the case of profession) is 31st July 2014.  In this article we have detailed in the form of Question answers Consequences of Delay in Filing Return of Income or of Filing Return after the due date.
Question:-First, what are the due dates?
Answer:- Assessees having income from salary have to file return of income before July 31 of the assessment year. This is the `due date’ prescribed in section 139(1) of the Income Tax Act, 1961.
Self-employed businessmen and professionals, and those deriving
income from let-out property too have to file their returns by this date.
However, businessmen and professionals with aggregate turnover/annual receipt exceeding Rs 100 lakh (in the case of business) and Rs 25 lakh (in the case of profession) have time up to September 30 for filing their return of income.
Question:-Are there any benefits in filing by the due date?
Anwer:- An assessee filing return by the `due date’ provided in the statute is eligible to file a revised return if he discovers any omission or wrong statement therein. Time limit for filing revised return is one year from the end of the assessment year or before completion of assessment. No penalty would be levied for filing a revised return on voluntary basis.
Question:-So, by filing late, does one lose the revision option?
Answer:- Yes. If an assessee does not file his return within the `due date’ and files his return subsequently, he cannot have the benefit of revising the return, as the return filed beyond the `due date’ is treated as `belated return’.
Question:-Any other advantages of sticking to the deadline?
Answer:-The taxpayer gets the advantage of carry forward and set off of losses, such as loss from business and loss under the head `capital gains’. If the return is filed beyond the `due date’ mentioned in section 139(1), these losses cannot be carried and set off against the income of subsequent years.
Yet another advantage of filing return before `due date’ is the eligibility for interest ontax refund from April 1 of the assessment year.
Question:-Can delay, therefore, be wasteful for `refund’ cases?
Answer:-Yes, because where the return is filed after the `due date’, interest on refund is paid only for the period from the month of filing the return to the date of refund. In other words, no interest is paid for the period from April 1 of the assessment year to the date of filing the `belated return’.
Question:-Do those with `nil’ tax liability have anything to fear?
Answer:-Where the return is filed beyond the `due date’, the taxpayer has to pay interest if any, on tax liability existing beyond tax deducted at source (TDS) or tax collected at source (TCS) or the advance tax paid. The question of interest does not arise where tax due for payment is `nil’, as would be in the case of most salaried people who pay their taxes through the TDS route. Legally, a taxpayer can file his return before the end of the assessment year without any penalty (however with penal interest under section 234A). Again, the question of penal interest does not arise in the `nil’ cases discussed above. For the assessment year 2014-15, return of income could be filed up to March 31, 2015.
Question:-How costly can delay in filing IT return be?
Answer:-Apart from interest and penal interest, there are other implications. If the return is filed after March 31, 2015 but before March 31, 2016 the AO (Assessing Officer) could levy a penalty of Rs 5,000 under section 271F. Even when there is no further tax payable on the income admitted, penalty under section 271F is leviable for the delay. If the return is filed after March 31, 2016 then such return would become an invalid return.
- See more at:

The bright days ahead !

Taking cue from the wishes of Sri KK Sheri, HK Aggarwal, and Jalaramaiahji, I join all of them to wish all the best in his battle for the ultimate victory.

desire to support Asthanaji's Intervention application to Supreme Court in the matter of  C.A. NO. 9223 OF 2013. His efforts to protect the interest of all sections of the pensioners from the hands of those who have been shedding crocodile tears for only a section of the pensioners knowing it well that their efforts will not bring any justice for any of the pensioners.  

Subir Kumar Mazumder

Just a minute off...

a reassurance of support...
Hats off to you for your determination and perseverance !
We stand by you and pray for your success.







E-Filing - Do's and Don't

Impact of Errors made while filing returns 

Returns can be classified as defective u/s 139 (9) and in some scenarios the return can be declared in valid / Non Est. ITD is not introducing this concept to cover certain types of errors in order to prevent future grievances
Computation Errors - In electronic filing it has been noticed that most of the errors are due to data errors as filed by the assessee This includes non filling of key schedules, wrong details etc resulting in rectification requests etc which delay closure of processing
Inability to pay refunds to the assessee.  

Key rules to be followed to ensure trouble free processing 

Once E filing is done (without digital signature), ITR V needs to be sent in time to CPC. In case ITR V acknowledgement is not received within reasonable time, the assessee may call up the CPC call centre to verify status Nearly 10% of assessees have failed to send the ITR V to CPC after E filing.

Assessee needs to fill his email address, mobile no correctly to ensure appropriate communication from the Income Tax Department. The use of the Tax practioner/CA's email address may not be appropriate.  

The assessee should make sure the correct (latest) address, bank account, MICR no. is filled.  

The assessee should verify tax credits available in Form26AS/NSDL websites. Mismatches are the single largest cause of incorrect tax computation. Non credits may be taken up with the TDS deductor and/or the banker as soon as they are noticed.

Saturday, July 26, 2014

Shape of things to come...

My dear Sir,

             Re :  ' I ' BETWEEN ' RUN ' & 'RUIN ' ?  NEVER !

You have wisely given the above thought-provoking concept at the right time !

As often repeated, it is " NOW !" OR " NEVER !" .

It is the fervent wish & hope of the entire pensioner fraternity that all the
stake-players in the field realise this before it is too late, iron out any small
differences in approach, shed the " I " and work in unison to achieve the
and deserve the gratitude of the dwindling group, by helping them to live
a life of self-dependence with dignity in the remaining short span of their 
lives !

Let us not do anything which negates the series of wins achieved over more
than a decade under the proficient captaincy of Shri K.M.L.Asthana !

The efforts of AIRIEF in supporting the legal battle spear-headed by Shri K.M.L.
Asthana at Jaipur and the late Shri M.L.Gandhi at Chandigarh, ever since its 
6th General Council Meeting held at Jabalpur during February, 2008,  and its
efforts to apprise the Leaders of the ruling political establishment deserve
the whole-hearted acclaim from everyone of us !

With best regards,

Shape of things to come...

" Shape of things to come, be forewarned & forearmed, Win we MUST "

The article ( like his other contributions ) by the VP, AIRIEF Shri R. B. Kishoreji has covered all vital issues of pension updation, DA/DR cases pending in various courts in a nut shell. He has also touched the critical aspects of pension related issues of the PSBs and the RBI. He has tried to caution pensioners of PSBs and RBI while cautioning pensioners of LIC. The article is precise, yet comprehensive worth reading more than once/twice for better understanding, appreciation. The article is refreshing, soothing as well.

" Shape of things to come, be forewarned & forearmed, Win we MUST", the article has been predictably green- signalled (the caption is in green) by the Editor. " Win we MUST, YES, LIC PENSIONERS WOULD WIN and would set a precedent for pensioners of other institutions / organisations.

SN ( a 1992 pensioner )

Dear friends,

D-Day is coming. Beware the ides of August. Our Motherland’s 
Independence day is on August 15th, 67th Anniversary. Freedom 
from foreign British rule, we really became true Indian citizens, 
breathing fresh air of liberty, equality & fraternity & 
feeling elated with the aroma of Patriotism. Did we not say & 
articulate in ever so many briefs, replies,charts, rejoinders, 
dissertations, clarifications that we are Indians 1st & 
Indians last, we are LICians 1st & LICians last, we are 
Pensioners 1st & Pensioners last? 

We had pride in our profession & we were & are proud of our organization, which won accolades from every quarter,undiluted ,unadulterated praise & tribute. LIC is still the darling of the masses, milch cow for Government, Rock of Gibralter, undeclared Navratna & an economic Tajmahal. A distinct & unique institution must be able to summon courage to penetrate the veils of bureaucracy & render unto pensioners what pensioners richly deserve. 

It is not for the asking we want pension upgradation. It is not for the asking we plead for end of discrimination to grant Full DR to pre-8/1997 pensioners who were left in the lurch. Let a hundred flowers bloom, similarly a 1000 & more articles, spicy, juicy, littered with facts & figures, right & left beaming, virtually of 24/7 news & views, legal jargons & vocabulary made easy, ears & eyes glued to ongoing legal battle, real Kurukshetra battle, getting prolonged without rhyme or reason with ever so many formidable victories in many Courts, verdicts pronounced by eminent Hon Judges, a real Discovery of LIC pensioners fortitude &bravery, patience & endurance, support from so many angles & quarters, & Sensor & Radiator Calicut blog LIC PENSIONERS CHRONICLE always there to update, blowing the bugle & the trumpet, like a running commentary. Whether, Whither are the questions to be answered like in a puzzle or scrabble.

2)  Look at the Editorial in HM, VETERAN July 2014 by GS, IOBRA of Indian Overseas Bank

“Dear Friends! This issue carries news on two important developments. The first is that the IBA, during the course of ongoing bipartite talks, informed representatives of negotiating organisations that they are favourably inclined to consider the demand of extending 100% DA for all pensioners and the same is awaiting the approval of the Government. We do not have information about the effective date of extending 100% DR neutralisation to pre-2002 retirees. Rumours are circulating thickly that that it is likely to be prospective and not retrospective. Efforts are on to make us believe that IBA may condescend to give effectfrom1-11-2012 andwe should be satisfied with this gesture. We want to remind ourselves that denial of 100% DR neutralisation to pre-2002 retirees was and continues to be a great injustice and discrimination. This announcement has come after a prolonged fight by all retirees and especially by IOBRA in various forums. You may recollect that our SLP is pending before supreme Court. Since this is only a rectification of an anomaly created in the Eighth Bipartite agreement and ending discrimination meted out to senior retirees, we reasonably expect IBA to act gracefully and implement this with retrospective effect from 01-05-2005. We appeal to all the negotiating Unions and Associations to secure justice for senior retirees.

The second development is a historic one. The Government of India has given in-principle agreement to implement Pension Updation in Reserve Bank of India. We are happy about this development. But, the Government has put some riders to this sanction. They have given it as a package stating that henceforth the Salary Revision as well as updation in RBI will be once in 10 years. The second rider is that the method of revising Basic Pension will be the one followed for the government Pensioners.This will result in an anomaly in that the method adopted for revision of Basic pension will be different from the method adopted for wage revision. This will in turn result in different Basic pension for persons of same rank/service but with different date of retirement.Thus the exercise of Pension updation will not meet with the desired purpose. Further, the offer to change the periodicity of wage revision from the present 5 years to 10 years may not be feasible and unacceptable to the serving employees' organizations.
As RBI and PSB employees have similar pattern and periodicity of wage revision ,if a similar package is handed over to us, a similar chaotic situation will descend on bank retirees of PSBs also. Therefore it is necessary that the bank employees and officers as well as Bank retirees define and demand Pension updation as follows.

• The method adopted for refixation of Basic Pay in the new scale for arriving at the new Basic Pension for pensioners should be the same as adopted for revising and refixing Basic pay for the serving employees which is the method of point to point/stage to stage fixation from old scale to revised scale.
• Similarly the periodicity of Pension updation should also be once in every five years along with salary Revision for serving employees and the date of effect of Pension updation should also be the same date of effect of salary revision of serving employees.
• In the case of Pensioners who retired during the currency of earlier Bipartite settlement/s the components of "Pay" drawn on the preceding ten months of service prior to retirement, which were considered for the purpose of calculating Basic pension, should be refixed in the revised scales of pay implemented during subsequent bipartite wage settlement/s, adopting the method of point to point/stage to stage fixation notionally and revised Basic Pension to be implemented as a result of Pension updation should be recalculated.

We are informed by representatives of negotiating organizations who are participating in the ongoing bipartite talks, that as regards updation of pension, IBA was apprehensive about the same since it involves substantial financial burden to the Banks.
So we have a lot of work to do, lobbying with various interest groups like GOI, IBA as well as representatives of negotiating organizations UFBU and convince everyone and bring them to accept our view point. We have miles to go before we sleep. Let us March forward. Victory is ours. With Regards and love,Dr. B. Ramji, Editor/General Secretary IOBRA ”

3)  Institutions are compelling the pensioners to move from pillar to post. MOF/UOI is oblivious to the needs of pensioners. Courts are sentinels of justice & equity & even they do not discharge their true obligations, especially in the background of rich & result-yielding developments, the original purpose of the Writ having been inked positively with a salutary Jaipur Judgement affirming the TWIN BENEFITS & echoed & confirmed by Chandigarh & Delhi HCs with a positive version wanting to grant these benefits deservedly to all pensioners with 12% interest too. All pensioners federations are not still wanting to display or announce esspiritde corps, sportsmanship spirit with an UNANIMOUS & ONE VOICE of all pensioners before the Hon SC Bench on 12th or 19th August to impress forcefully & graphically the developments, the point of discrimination & the veracity of pronouncements in favour of pension revision with every wage revision One tree makes 1 Lakh match sticks.
But one matchstick can burn 1 Lakh trees.
Similarly, one negative thought or doubt can burn thousands of dreams… Why are you waiting for an auspicious day, announce true & right intentions now itself.

4)  Chandigarh CCP to 27 Jan 2015, but 4 weeks time to LIC for calculations. Same Jaipur rigmarole should not be allowed to be repeated. Alertness must be there when LIC deposits the amount. In fact, we were interested in looking at implementation & not any reenactment of the drama, as we quoted many cases, where in CCP also, Courts have ordered the institutions to implement with a time frame. Why, Sri T. Sampath Iyengar’s latest insertion in Chronicle confirms that, so end result can come even in CCP.
So too, Jaipur case which came up on 21 July ended with postponement & though LIC wanted 2 weeks time, now 25 August 2014 is the date given for hearing. SC Bench alone looks to be the last straw & the real Saviour

5)  Portents will be ominous, if after all this 14 years of struggle, the grave deaths of pensioners so large in numbers, Family pensioners jumping from 16 % to 36 % of Regular pensioners, LIC SLPs having been dismissed on 8 Aug 2013, historic 30 Sep, 2013 verdict of SC Bench, in spite of LIC efforts to ditch the judgement itself, emphatic & perhaps empathetic ,NO STAY verdict by Hon SC Bench but only starved of full benefits to pensioners by condoning delay, unpardonable 6 months & 23 days & the result proliferation of further SLPs converted as CAs , which 3 of Jaipur, Chandigarh & Delhi will come for a historic Sound & Light show on that august August Day. Postponements have again become the order of the day & that too long postponements defeating the very ends of justice. Hope not in August. We are not living in a fools paradise. Sr Counsels wit & wisdom, sparkling presentations, convincing arguments, pithy & stark data support of pensioners, powerful rebuttals, a tribute to Judiciary always coming to the rescue of befitting alienated, discriminated, disadvantaged elders & pensioners, longest wait for the Final dispassionate Judgement must ensure from the mouth of the venerable & Hon SC Bench. Lot of spadework, Note to Sr Counsel, why Sr Counsel be selected without delay, already valuable time lost, please touch your Conscience & atleast now, submerge Egos, difference between RUN & RUIN is I, let Pensioners feel the coming of good times, to handshake & embrace one another, convert Paradise Lost to Paradise Regained.

6)  High hopes are kindled by the overwhelming majority of BJP by itself & with alliance of NDA partners & above all the image of worthy PM, who has already initiated many reforms from many angles. Plus all Ministers appear to be alert & all are catching the attention of the media by some announcements. OROP was & is an excellent theme & ideal for parity & prepoll shibboleths & grandiose manifestos must not fade into insignificance. How many Fedns have met how many MPs, how many Ministers in the last 2 months with Memorandums & shawls & boquets. All India Confederation of Trade Unions comprising the largest segment also met FM. Fine, needed as a tool & strategy to prepare fresh ground, break the ice, to garner support, to impress FM &others to advise bureaucrats properly & in right spirit in consonance with past developments portrayed in Memorandum. More so, if this Govt seen to be enabling, suffused with enthusiasm & even euphoria cannot see the Core point in Court developments, that too dragging for decade & more, knowing the Institution ins & outs so well & performing such a purposeful, laudable & predominant role in Indian economy & for financial inclusion the all embracing theme of any party & more so in NDA Agenda, should they not condescend to approve in toto our strong case of pensioners with realistic , modest & genuine demands, who else will ? Not only that, if PMs advice is to resolve all grievances of citizens travel, children & ladies, elders & Sr Citizens etc within 2 months, & if Law Minister loudly & clearly asserts that National Litigation Policy will be taken seriously, delays will be considerably curtailed, not to interfere with the independence of the Judiciary, why not ours be a Test case for reality check. Then don’t impose the once in 10 years rule being cooked up for pension upgradation, as we lose the step by step difference once in 5 years, ie 60 months & next wait again once in 10 years. True, 10 year jump will be low to high whereas 5 year jump will be stable. May be MOF knows that many will die during that 10 year period & so save !! Why, Family Pensioners, ipso facto will have to wait for 10 year period & FPs will also lose 6th to 10th year. Why perpetrate suchies again. If you want as MOF to assert, clean your tables 1st, set your house in order, all packages of perquisites endeavour to introduce uniformity, bureaucrats enjoy maximum in service & out of service too.
Did you not cleverly introduce through the backdoor GRADE PAY concept, which is enveloping all CODemands, as Govt & RBI were the 1st to do. When it is known that scales of pay are rising so high, how to grant % increase, sabash, Grade Pay comes to the rescue, what a component. Look how high it is & eligible for all benefits. But poor plight of pensioners will be crushed with your might. How long himsa & adharma can last ?

7)  Friends, one more recent development has added to our proud arsenal yet another Brahmastra, the dismissal of LIC SLP by SC Bench in M.C Jain Retd RM Accts, also a Jaipur case, also a Hon Bhandaris verdict, dismissal of LIC appeal earlier, LIC deliberately kept it pending as they knew if they accept this, necessarily & by compulsion, they have to accept & implement the double-decker or pension in chain upgradation, as by asking LIC to implement their orders, Officers retired between 1/8/92 to 31/3/ 93 will have to be refixed in revised pay after 1/8/92-31/7/97 wage agreement, get the arrears for the few months till date of retirement PLUS refixation of pension as per New Pay scales for their cadres in Class I, get the difference between old lesser pension which was as per old scales of pay, & the new higher pension warranted by new scales of pay, with correct DR calculated & all such differences for nearly DOR to say 31 August, 2014 , for a long period of 21 years, assuming August as a Victory month after due acceptance by LIC without in any way acquiescing in the situation to abort or subvert. That will fail, as earlier all officers retired 1/8/92—31/7/94 received substantial arrears of Gratuity for 1993 to 2/2008 & 9/2008 as I wrote in an earlier but recent Chronicle contribution.
This salient but sound judgement also must open the ground for Pension upgradation successively & must be driven home to eminent SC Bench with aplomb, pinpoint precision & penetrative arguments to put down LIC Counsel & when many times hitherto, LIC even when driven to a corner, was able to come up as a Sphinx & that must be nipped in the bud in the decisive battle in 3rd week of August

8)  Lastly, prospective will be a gloom. DR difference has to be from the date when discrimination arose, viz 1/8/1997 as post 8/97 get Full DR. OROP also SC was strict & compelled Govt to fix 1/1/2006 as effective date & not 9/2012. Our blood boils when we notice the huge loss in DR Slabs all through, poor Seniors of Seniors are losing regularly. If Politicians burn effigies, all pensioners must burn the cruel, gruelling, miserly, unconstitutional APPENDIX IV Formula of LIC Pension Rules 1995 on that victorious day. So too, when we see & look around 9 cadres below get more pension than such high level cadres, it is a much much bigger loss. After LIC Board Resolution charter date 1/8/2002 or 1/1/2007 CWP 654/2007 on pension upgradation effective date can be claimed as 1/1/2007 atleast. Have you seen the Retirement benefit chart, then & now & going up & up ? We have to hang our heads in shame how we tolerated & how we eked our existence, honestly. Respected Pradhana Mantri Modiji slogan Acche din anewale hai has already come for existing employees with a charter yet to be unfolded & resolved. When are we getting, how are we going to get by traversing the last lap of our journey with complete resonance & vibration of ideas with similarity & unanimity & above all dealing on that memorable Day with a heart & mind full of elixir & glory. Shine & Sparkle, Smile & bring Cheers & Dimples on faces of all pensioners.