TAX Breather

NEW DELHI: As many as 85 lakh salaried tax payers whose taxable income, including salary and interest income, is up to Rs 5 lakh, are not required to file income-tax return from now onwards.
"No income-tax returns is required for salaried persons whose annual taxable income including salary and interest is up to Rs 5 lakh. We would shortly notify this," a Central Board of Direct Taxes official said.

However, he said this would not cover income from other sources like house property, capital gains and gains from profession and business.

The scheme would be applicable from assessment year 2011-12 onwards. This means that the salaried persons eligible under the scheme would not have to file returns for the financial year 2010-11 in 2011-12 (assessment year).

Under the scheme, those salaried persons who want to claim tax refund, would have to income tax file return.

As per the Memorandum to the Finance Bill 2011, the government will be issuing a notification exempting 'classes of persons' from the requirement of furnishing income tax returns.

Under the scheme, the salaried person wants exemption from filing IT return, has to disclose about the incomes like dividend and interest to his employer for tax deduction.

In the scenario, the Form 16 issued to salaried employees will be treated as Income Tax Return. At present, it is obligatory for all salaried persons to file income tax return under the Income Tax Act, 1961.

The idea behind the move is that in cases where there are no other sources of income, filing of a return is a duplication of existing information.

http://economictimes.indiatimes.com/personal-finance/tax-savers/tax-news/no-filing-of-tax-return-for-salary-and-interest-income-up-to-rs-5-lakh/articleshow/8747354.cms

Toll Plaza on Rajiv Gandhi Salai (OMR) - Preliminary announcement

Tamil Nadu Road Development Corporation (TNRDC) has intimated that the Toll Plazas on Rajiv Gandhi Salai (OMR) are likely to be operational from the 1st week of December tentatively. Main Toll plazas are located at Seevaram (Entry), Egattur(Exit) and Satellite toll plazas are located at  Thoriapakkam, Sholinganallur and Medavakkam.  All the vehicles need to pay necessary toll charges to gain entry into toll area. For the two wheelers toll is exempted. The Toll Plazas will have the following modes of payments :- a.      Cash Lane for the commuters who have to stop and pay cash at the counter. b.      Smart Cards where the commuter has to stop and manually swipe the card without worrying about carrying cash for paying toll. c.       On Board Units (OBU) Lanes for automated tolling system where commuters would not have to stop and pay the toll if they already have OBU’s installed on their vehicles. We are actively working with TNRDC to setup a Helpdesk at Cognizant facilities in Rajiv Gandhi Salai (OMR) to facilitate processing of subscription plans of OBU’s and Smartcards for our associates.  Please await the announcement regarding the issuance of OBU’s/Smartcards. Attached please find detailed presentation on toll plazas layout, rates, toll collection methods, applications forms etc. for your reference. Associates may refer to  http://www.tnrdc.com/itel/  to get any further updates on Toll Plaza.   Process for Obtaining OBU’s/Smart Cards §Attached application form should be duly filled and submitted to TNRDC along with the DD/Cash. §Annual Operational Service charge for OBU is Rs.1000/- per unit. §Annual Service charge for Smart Card is Rs.100/- per card. §First payment would include the Annual operational service charges and  the trip prepaid charges. §Forms can be submitted in any of the toll plazas and  the OBU / Smart Card cab be obtained. §OBU’s and Smart Cards will be configured with respective vehicle. §Transfer of OBU / Smart Card is possible with necessary application formalities. §For information on toll please visit  http://www.tnrdc.com/itel/ §Toll Plaza at Seevaram (Main Toll Plaza) §12 Lanes – 6 towards Siruseri , 6 towards Madhya Kailash (OBU -2, Cash – 3, Smart card -1 – each side) §Every alternate lane is an OBU lane permitting non stop toll collection using On Board Units. §Toll Plaza at Egattur (Exit Toll Plaza) §6 Lanes – 3 towards Siruseri, 3 Lanes towards Madhya Kailash §One OBU lane on either side (Non-stop lane), two Cash /Smart Card lanes §Satellite Toll Plaza at Thoraipakkam §6 Lanes – 3 towards Pallavaram and 3 Lanes towards IT Corridor §One OBU lane on either side (Non-stop lane), two Cash /Smart Card lanes §Satellite Toll Plaza at Medavakkam §4 Lanes – 2 towards Medavakkam and 2 Lanes towards IT Corridor §One OBU lane on either side (Non-stop lane), One Cash/Smart Card lane §Satellite Toll Plaza at ECR Link Road §4 Lanes – 2 towards ECR, 2 Lanes towards IT Corridor §One OBU lane on either side (Non-stop lane), One Cash /Smart Card lane     •Two wheelers will not be tolled •In case of overloaded or over-sized vehicles, tolls shall be charged at the rate of 200 percent of the applicable rates given above. Besides, such vehicles shall be allowed to ply on the Project Road after they have been unloaded to the extent of their rated capacity or size. Toll charges applicability §Vehicle entering in one plaza and exiting through any of the other 4 plazas will attract one trip charges. (e.g. A car entering through Seevaram toll plaza by paying Rs.17 can exit via Thoraipakkam / Medavakkam / ECR link road or Egatur Plaza with nil charges.) §Vehicle entering in one plaza and exiting through the same plaza will attract two trip charges (e.g. A car entering through Seevaram toll plaza by paying Rs.17 can exit through Seevaram Plaza with additional Rs.17 charges.) §Validity of the ticket will be upto 12:00 midnight   Modes of Toll collection: 1.Cash Payment §Toll ticket will be issued in the booth upon receipt of toll fee . 2.   Smart Card (Touch and Go) §Stop, Flash and Go transaction with Smart Card.  Estimated time for single transaction is about 6 seconds. 3.On Board Unit (OBU) §Automatic  sensing device with prepaid value loaded in it. §Vehicle fixed with OBU can pass through without stopping in dedicated lanes. The Toll amount for the trip will be deducted from the OBU and the balance amount will be displayed in the User Fare Display (UFD) fixed in the lanes. §Best Payment method for Users who value Time and Convenience – as maximum crossing time is 3 seconds at 20 Kmph. §Technology for decreasing congestion and pollution § Dedicated OBU lanes available at all toll plazas §View OBU specifications   VEHICLE CATEGORY SINGLE JOURNEY TOLL RATE 3 Wheeler Rs. 6 Car/Jeep Rs. 17 LCV Rs. 28 Bus Rs. 44 Truck Rs. 66 MAV Rs. 132     http://www.tnrdc.com/itel/downloads/TD_man_OBUL10_UserManual_1V2.pdf Electronic Toll Subscription Plans: §For convenience in Toll, subscription plans are available for OBU and Smart Card customers. Toll Subscriptions available for 50 trips and multiples thereof Smart Cards available for all applicants   Discount on prepaid pass (Trip Based) §Trips for OBU and Smart Card will be available as 50 Trips / 100 Trips and multiples thereof §Validity for OBU and Smart Card will be 90 days from the date of purchase §Unused trips beyond 90 days will be lapsed. §5% discount for 50 trip purchase §7.5% discount for 100 trip purchase   Vehicle Actual Pass Amount for 50 Trips 5% Discount for 50 Trips Actual Pass Amount for 100 Trips 7.5 % Discount for 100 Trips Auto 300.00 285.00 600.00 555.00 Car / Jeep 850.00 807.50 1700.00 1,572.50 LCV 1400.00 1,330.00 2800.00 2,590.00 Bus 2200.00 2,090.00 4400.00 4,070.00 Truck 3300.00 3,135.00 6600.00 6,105.00 MAV 6600.00 6,270.00 13200.00 12,210.00

Telecom Do's and Don'ts

Do's

1.    Please ensure that you publish and update your contact details in the PeopleSoft and Self Update portals.

2.    While logged into an audio conference, ensure you are on MUTE after you have made your presentation. This will eliminate unnecessary disturbances. When you need to speak again, simply UNMUTE yourself.

3.    We would encourage you to use the conference mute (*6 in most bridges), rather than using the mute option offered by your handset when you need to answer the subsequent call. This will avoid “Hold on Music/Message” played during a conference call.

4.    Please use the office landline judiciously for making personal/unofficial calls.

5.    Please use the VNET’s for all international conference / client calls.

6.    When multiple participants need to join the same bridge, we would request you to assemble in a conference room/bay and participate in the call.

7.    Use Intercall's India conferencing solution for conference calls within India.

8.    Please turn off any device that could interfere with the phone in the meeting room, in order to improve the voice clarity.

Don’ts

1.    We would urge you not to request the Operator to call back and connect your number to an International call while at home. This will prevent unnecessary ‘BEEP Tones’ that will cause disturbances to other users.

2.    Please do not dial an STD number without prior approval from your manager.

3.    We would request you to never share your AUTHCODES with anyone; keep it confidential.

4.    Please do not leave your Centrex phone UNLOCKED when you are not at your desk.

5.    Please note that patching calls between PSTN and VNET is prohibited. This is against the TRAI (Telecom Regulatory Authority of India) rules and it is strictly not allowed in Cognizant network.