MilindPhadke

Wednesday, March 9, 2011

NAGPUR WEATHER

AS MENTIONED IN MY LAST BLOG ON NAGPUR WEATHER, THE SUMMER HEAT WILL BE ON THE RISE GRADUALLY. PRESENTLY TILL 11th MARCH 2011 FEW TRACES OF CLOUD WOULD SEND BACK THE RADIATED HEAT FROM THE EARTH AND GIVE A FEEL OF REAL SUMMER. FROM 11th MARCH 2011 ONWARDS, THE UPPER WINDS (BETWEEN 850 mb AND 500 mb i.e. BETWEEN 1.5 Kms AGL to 5.5 Kms AGL) WILL TURN TO NW, THEN GRADUALLY NNW AND COMPLETELY NORTHERLY WINDS FROM 16th ONWARDS WILL BRING DOWN THE MAXIMUM TEMPERATURE BY ABOUT A DEGREE OR TWO. THE ZERO DEGREE ISOTHERM WILL ALSO RISE FROM 620 mb TO ABOUT 580 mb AND RH ON THE GROUND RANGING BETWEEN 33 % AND 07% WILL SHOW THAT THE WEATHER IS COMPLETELY DRY. THE MAXIMUM TEMPERATURE WILL TRY TO BREAK 40 deg CEL MARK ON MONDAY THE 14th MAR '11 AND ON TUESDAY IT MAY CROSS THE 41 deg CEL MARK.

NAGPUR-SUMMER

FORECAST FOR CRICKET MATCH BETWEEN INDIA AND SOUTH AFRICA AT NAGPUR ON 12th MARCH

ON 12th MARCH 2011, DURING THE MATCH START TIME IN THE AFTERNOON ABOUT 1430 Hrs IST, THE GROUND WIND WILL BE INITIALLY Nly AND THEN NNEly AND AROUND 02 Kmph, RISING TO 05 Kmph IN THE EVENING AND WILL BE AROUND 12 Kmph IN THE LATE EVENING/NIGHT HOURS. THE RH WILL BE INITIALLY 10% RISING TO 15%. AT ABOUT 38 deg CEL (+/- 1) THE MAXIMUM TEMPERATURE MAY BE UNCOMFORTABLE FOR OUTSIDERS AND WILL RAPIDLY COOL DOWN TO 23 deg CEL (+2/-1) IN THE SECOND HALF OF THE CRICKET MATCH AT JAMTHA, NAGPUR.

Milind Phadke

+919890317557

Tuesday, March 8, 2011

MERGER OF AM-II & AM-I--PROPOSAL

RECEIVED IN MY eMAIL TODAY.

Milind Phadke

+919890317557

LTC FOR CENTRAL GOVERNMENT EMPLOYEES WHEN AIR FARE IS LESS THAN LTC-80

Based on the references for admissibility of LTC claims of Government officials where the air fare paid for travel by Air India happens to less than LTC-80 class of Air India, Department of Expenditure clarifies that reimbursement of air fare lower than the LTC 80 air fare of Air India will also be admissible for journeys performed by Air India under LTC as the intention is to ensure that the LTC claim should not be in any case, exceed LTC-80 fare of India.

LTC-80 CLARIFICATION by DOPT

Milind Phadke

+919890317557

Monday, March 7, 2011

INCOME TAX EXEMPTION ON GRATUITY

The government has hiked the limits of gratuity payment from Rs 3.5 lakhs to Rs 10 lakhs.

This enhanced limit is applicable to employees who retire, become incapacitated before retirement, expire or whose services were terminated on or after May 24, 2010.

As per Section 10(10) of Income Tax Act, gratuity is paid when an employee completes five or more years of full-time service with the employer.

In respect of government employees, any death-cum-retirement gratuity received under the pension rules or scheme of the central or state government, or regulations applicable to the members of defence services, is not taxable.

In case of gratuity received under the Gratuity Act, 1972, any gratuity received to the extent that it does not exceed an amount calculated in accordance with the provisions of the Gratuity Act is not taxable.

For employees receiving gratuity other than under the government pension or gratuity scheme and also other than under the Payment of Gratuity Act, the computation mechanism in respect of exemption limits has been specified in the IT Act.

The Central Board of Direct Taxes (CBDT) has issued a notification increasing the overall tax exemption to Rs 10 lakhs.

The gratuity received by an employee is not taxable if it is received on his retirement, his becoming incapacitated prior to such retirement, termination of employment or if such gratuity is received by his widow, children or dependants on his death.

Further, such gratuity does not exceed one-half month's salary for each year of completed service, calculated on the basis of the average salary for 10 months immediately preceding the month in which such retirement or death takes place, subject to the limits prescribed by the central government.

Salary for this purpose includes dearness allowance, but excludes all other allowances and perquisites. Also, as per some judicial precedents, completed service would mean a total period of service whether under one employer or more. In case any such gratuities are received by an employee from more than one employer in the same financial year, the aggregate amount so exempt should not exceed the overall exemption limit.

Similarly, if gratuities were received in one or more financial years, the exempt amount claimed earlier has to be taken into account while computing the exemption at present.

What is gratuity?

Gratuity is a retirement benefit. An employer may offer gratuity out of his own funds or may purchase a group gratuity plan from a life insurer. In case the employer chooses a life insurer, annual contributions as decided by the insurer have to be paid. The gratuity paid by the insurer will depend on the terms of the group gratuity scheme.

Collected By:-
Milind Phadke
+919890317557

Wednesday, March 2, 2011

HOW TO APPRECIATE

WE HAVE OFTEN HEARD THE SAYING THAT ’ATTITUDE IS EVERYTHING’. WHILE THIS IS TRUE, IT IS VERY DIFFICULT TO BE POSITIVE ALL THE TIME.

THE POSITIVE AND NEGATIVE THOUGHTS HAVE VERY STRONG INFLUENCE IN OUR LIFE.

POSITIVE THINKING IS ALWAYS EXPECTED, AND HELP US TO VISUALIZE WITH CERTAINTY AND INCREASE THE MOTIVATION OF BUILDING STRONG RELATIONSHIPS.

THE THREE LETTERS THAT DETERMINE OUR LIFE’S DIRECTION IS THE DIFFERENCE BETWEEN ‘CAN’ AND ‘CANNOT’.

THE MIND PLAYS A DECISIVE ROLE.

THE POSITIVE ATTITUDE BRINGS STRENGTH AND ENERGY AND MOTIVATES TO INITIATE OPTIMISM AND ACCOMPLISHES OUR ACHIEVEMENT.

THE POSITIVE FEELINGS AND ACTIONS WHEN WE SAY ‘I CAN’ INSTEAD OF ‘I CAN’T’ GIVES US CONFIDENCE TO BE DICISIVE AND COURAGEOUS AND RESOLUTE.

THIS IS THE WAY MY BLOG HAS BEEN APPRECIATED BY OUR HEAD OF THE INDIA METEOROLOGICAL DEPARTMENT, DIRECTOR GENERAL of METEOROLOGY--AVM Dr Ajit Tyagi, FROM HQ New Delhi.