6CPC New Pay and Arrears - Estimation of Income tax payable for the year 2008-09

The lack of clarity over taxation of arrears that government employees will receive following the implementation of the 6th Pay Commission recommendations has finally cleared. The tax on first installment will be deducted in the current fiscal and that on the second installment will be deducted next year when they receive the actual payment.
Confusion had arisen about the tax treatment of the pay arrears that central government employees are about to get as part of their latest wage revision. According to finance ministry sources, only the first installment of the arrears would be taxed this fiscal. The taxation, they would be akin to the tax treatment in 1997 when the fifth pay commission recommendation was implemented wherein the tax was deducted at the time of payment.

Comments

Post a Comment

Popular posts from this blog

6CPC Pay and Arrears - Income Tax Estimation

The lack of clarity over taxation of arrears that government employees will receive following the implementation of the 6th Pay Commission recommendations has finally cleared. The tax on first installment will be deducted in the current fiscal and that on the second installment will be deducted next year when they receive the actual payment. Confusion had arisen about the tax treatment of the pay arrears that central government employees are about to get as part of their latest wage revision. According to finance ministry sources, only the first installment of the arrears would be taxed this fiscal. The taxation, they would be akin to the tax treatment in 1997 when the fifth pay commission recommendation was implemented wherein the tax was deducted at the time of payment.
Read more
UNIVERSITY GRANTS COMMISSION BAHADUR SHAH ZAFAR MARG NEW DELHI-110 002. No. F. 1-2/2016 (PS/PRC) NOTIFICATION 9th June, 2016 1. The UGC in consultation with the Ministry of Human Resource Development (MHRD) hereby constitutes the Pay Review Committee for pay revision of academic staff of Universities and Colleges with the following Terms of Reference (ToRs): To review the implementation of the previous decision of the Government/UGC under the scheme of Revision of Pay Scales approved for University and College Teachers, Librarians, Physical Education Personnel and other academic staff in Universities and Colleges, and in the process, to evaluate the extent to which the earlier recommendations in relation to qualifications, service conditions and pay-scales etc. have been implemented. To examine the present structure of emoluments and conditions of service of University and College Teachers, Librarians, Physical Education Personnel and other academic staff in Universi
Read more

Clarification Regarding Draft Regulation for UGC Notification on Revision of Pay Scales

The UGC has received order from Government of India dated 31st December 2008 regarding scheme of revision of pay of teachers and equivalent cadres in universities and colleges as per the recommendations of the Sixth Central Pay Commission. The Government has also released grant for payment of 40% of arrears. The Commission is in the process of releasing the grant to the universities and colleges. The centrally funded universities and colleges are requested to make payment in accordance with Government of India notification dated 31st December 2008 and the UGC draft Regulations may not be taken into account while releasing the arrears. It is further clarified that incumbent Readers and Lecturers (Selection Grade) who have completed 3 years in the current pay scale of Rs. 12000-18300 on 1.1.2006 shall be placed in the Pay Band of Rs. 37400-67000 with AGP of Rs. 9000 and shall be re-designated as Associate Professor. Incumbent Readers and Lecturers (Selection Grade) who had not completed
Read more