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Cut & polished diamonds of 0.10 carat or above can be exported and re-imported duty free

July 3, 2013 741 Views 0 comment Print

An exporter (with annual export turnover of Rs 5 crores for each of the last three years) may export cut & polished diamonds (each of 0.10 carat or above) to any of the above agencies/laboratories with re-import facility at zero duty within 3 months from the date of export.

I-T dept to open 1,080 assessment offices & to create 20,751 additional posts

July 2, 2013 1327 Views 0 comment Print

a. Number of assessment units (AtJs) to be increased by 1080 from 3420 to 4500. for strengthening the tax-administration. b. Expected net additional revenue of Rs. 25,756.04 crores per annum against expenditure of Rs. 449.71 crores per annum c. Each Range to have one more Assessing Officer.

Implementation of Cadre Restructuring in the Income Tax Department : Constitution of Sub-committee No.7: Infrastructure Requirements

July 2, 2013 871 Views 0 comment Print

his Sub-Committee shall, after considering the creation of 20,751 additional posts, 1080 additional assessment/other units, and consequent requirement of existing infrastructure, be responsible for Assessing the existing infrastructure, and infrastructure gaps in the Department. Working out and recommending arrangements to meet the interim requirements of infrastructure based on the creation, deployment and filling of posts in various Regions until the long term arrangements are made. Recommending long term infrastructure requirements to dovetail with the plan for location and phasing of posts and offices, Working out the requirements of other supporting infrastructure for the offices and Preparing an infrastructure plan with its implementation schedule and financial implications.

Implementation of Cadre Restructuring in Income Tax Department : Constitution of Sub-committee No.6 : Recruitment Rules for Group B & C Cadres

July 2, 2013 2362 Views 0 comment Print

This Sub-Committee No. 6 known as the Sub-committee on RRs for Group B & C Cadres shall be responsible for the following: identifying requirements for amendments in RRs as a result of restructuring and the Model RRs, examining the issue such as the merger of posts like STA, Steno Gr 1. OS as Executive Assistant, and the consequent changes in promotion channels; and making recommendations for suitable amendments in the RRs. examining recruitment/promotion related problems in these posts faced in different regions, and recommend any required amendment in the RRs resolve the same.

Implementation of Cadre Restructuring proposals Income Tax Department : Constitution of Sub-committee No.5 : IRS Recruitment Rules

July 2, 2013 784 Views 0 comment Print

5. This Sub-Committee shall: look into the existing issues in the RRs for IRS recommend RRs for the new scales/posts in accordance with the model RRs, and considering RRs of other Services with Apex Scale in their cadre prepare consolidated RRs taking into account the amendments already proposed, and amendments required as a result of Cadre Restructuring, and assist in the speedy amendment of the RRs for the IRS

Implementation of the Cadre Restructuring proposals in Income Tax Department : Constitution of Sub-committee No.4 : Recruitment of Group B & C Cadres and Training Needs

July 2, 2013 730 Views 0 comment Print

This Sub-Committee shall be responsible for looking into the process of filling up all the direct recruitment posts in Group B and Group Cadres preparation and implementation of a training plan for the newly recruited personnel in consultation with the NADT/RTIs/CCIT CCAs(for MSTUs) and training institutions recommending the methodology and time frame for filling up of vacant posts in the Promotion quota.

Implementation of Cadre Restructuring in Income Tax Department : Constitution of Sub-committee No.3: Restructuring of Directorates

July 2, 2013 814 Views 0 comment Print

5. This Sub-Committee shall be responsible for making recommendations on the implementation of proposals made by the departmental Cadre Restructuring Committee regarding the staff in the attached directorates establishment of newly created Directorates making recommendations on the issue of inter-se seniority after merger of cadres making recommendations on specific issues relating to distribution/allocattion of posts and manpower relating to certain directorates such as Investigation in UP, NADT etc. making recommendations for the implementation of restructuring of other Cadres

Implementation of the Cadre Restructuring proposals in Income Tax Department : Constitution of Sub-committee No. 2: DPCs

July 2, 2013 510 Views 0 comment Print

The responsibilities of the Sub Committee will be: to ensure early DPC for promotion to the concerned post facilitate/carry out vacancy analysis ensure preparation of a proper panel ensure availability of all the necessary clearances

Implementation of the Cadre Restructuring proposals in Income Tax Department : Constitution of Sub-committee No.1: Jurisdiction & Deployment of Posts

July 2, 2013 688 Views 0 comment Print

This Sub-Committee No. I known as Sub-committee for Jurisdiction and Deployment of posts shall be responsible for recommending the setting up of various offices along with their jurisdiction in accordance with the approved proposals. The Sub-committee shall recommend the Regions/Charges/ places where the additional posts/officers/officials can be deployed, and their likely jurisdiction keeping in mind the need:

Draft Guidelines on Capital and Provisioning Requirements for exposures to corporates having unhedged foreign currency exposure

July 2, 2013 9038 Views 0 comment Print

Please refer to paragraph 99 of the Monetary Policy Statement for 2013-14 (Extract annexed). Unhedged foreign currency exposures of the corporate are an area of concern not only for individual corporates but also to the entire financial system. Corporates who do not hedge their foreign currency exposures can incur significant losses due to exchange rate movements. These losses may reduce their capacity to service the loans taken from the banking system and thereby affect the health of the banking system.

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