HAPPY NEW YEAR 2016

May this new year 2016, bring all happiness and prosperity to all the staff and their family members.

Wish you all

HAPPY*NEW*YEAR

*2016*

   

​  ​

BY

V.MUTHURAJ,

SPOs, NAMAKKAL​

Payment of Bonus (amendment) Bill, 2015

Change of closed holiday for Milad-un-Nabi

45th UPU Letter Writing Competition to be held on 03.01.2016 (Sunday)

DEPARTMENT OF POSTS, INDIA

From	To
Supdt. of Post offices, Namakkal Division, Namakkal – 637001.	1. The CEO / DEO, Namakkal 2.All the Principals / Head masters  in Namakkal District.

No. J/UPU/LWC                   dated at       Namakkal –    637001  the                      04.12.2015.

Sir / Madam,

             Sub:45^th UPU Letter Writing Competition to be held on 03.01.2016 (Sunday) – reg.

            The Department of Posts has proposed to conduct 45^th Universal Postal Union (UPU) letter writing competition at Namakkal on 03.01.2016. Applications are invited from the students by the Superintendent of Post Offices, Namakkal Division, Namakkal on or before 21.12.2015 with required certificates / information. The detail of the competition is furnished below.

1.         Subject                                   : “ Write   a  letter  to  your  45-year  old  self ”

2.         Participants eligibility        :  Children up to 15 years of age as on

                                                              31.03.2016.

3.         Content and form                 :  Composition must be presented in the form

                                                               of letter not exceed 1000 words length on the

                                                               given subject.

4.         Date and Time                      :   03.01.2016 (Sunday), 10.00 am to 11.00 am

5.         Language                               :   English or any Language listed in the 8^th

                                                               Schedule of the constitution of India

6.         Last date for Submission

                                   of forms           :   21.12.2015.

7.         Prizes (at National level)

            a. One First prize                 -   Rs.5000/- and a certificate

            b. One Second prize             -   Rs.3000/- and a certificate

            c. One Third prize                -   Rs.2000/- and a certificate

            d. Consolation Prizes           -   Rs.1000/- to the best entry from each

                                                                Postal Circle and a certificate.

                     “The best entry at the National Level shall qualify as the official

                               Indian Entry fort the International competition”

            The Universal Postal Union shall select the award winning entries. The top three entries will be awarded Gold, Silver and Bronze medal respectively along with Certificate and album of UPU official postage stamps from UPU.  Since the competition is going to be conducted at National level, it is requested to nominate the best entries from your school  and forward the applications in the prescribed proforma enclosed herewith for each student directly to the Superintendent of Post Offices, Namakkal Division, Namakkal – 637001 before last date to this office.

** One extra recent passport photograph may also  be attached in the application for affixing  in  hall permits.

                                                                                                              Yours faithfully,

                                                                                                            Superintendent of POs,

                                                                                                            Namakkal Division,

                                                                                                            Namakkal – 637001

                                                                               

List of Holidays for the year 2016

Rules regarding quoting of PAN for specified transactions amended

Press Information Bureau
Government of India
Ministry of Finance

15-December-2015 19:59 IST

Rules regarding quoting of PAN for specified transactions amended

The Government is committed to curbing the circulation of black money and widening of tax base. To collect information of certain types of transactions from third parties in a non-intrusive manner, the Income-tax Rules require quoting of Permanent Account Number (PAN) where the transactions exceed a specified limit. Persons who do not hold PAN are required to fill a form and furnish any one of the specified documents to establish their identity.

             One of the recommendations of the Special Investigation Team (SIT) on Black Money was that quoting of PAN should be made mandatory for all sales and purchases of goods and services where the payment exceeds Rs.1 lakh. Accepting this recommendation, the Finance Minister made an announcement to this effect in his Budget Speech. The Government has since received numerous representations from various quarters regarding the burden of compliance this proposal would entail. Considering the representations, it has been decided that quoting of PAN will be required for transactions of an amount exceeding Rs.2 lakh regardless of the mode of payment.

            To bring a balance between burden of compliance on legitimate transactions and the need to capture information relating to transactions of higher value, the Government has also enhanced the monetary limits of certain transactions which require quoting of PAN. The monetary limits have now been raised to Rs. 10 lakh from Rs. 5 lakh for sale or purchase of immovable property, to Rs.50,000 from Rs. 25,000 in the case of hotel or restaurant bills paid at any one time, and to Rs. 1 lakh from Rs. 50,000 for purchase or sale of shares of an unlisted company. In keeping with the Government’s thrust on financial inclusion, opening of a no-frills bank account such as a Jan Dhan Account will not require PAN.  Other than that, the requirement of PAN applies to opening of all bank accounts including in co-operative banks.

The changes to the Rules will take effect from 1^st January, 2016.

The above changes in the rules are expected to be useful in widening the tax net by non-intrusive methods. They are also expected to help in curbing black money and move towards a cashless economy.

A chart highlighting the key changes to Rule 114B of the Income-tax Act is attached.

Sl.	NATURE OF TRANSACTION	MANDATORY QUOTING OF PAN (RULE 114B)
		Existing requirement	New requirement
1.	Immovable property	Sale/ purchase valued at Rs.5  lakh or more	Sale/ purchase exceeding Rs.10 lakh; ii.  Properties valued by Stamp Valuation authority at amount exceeding Rs.10 lakh will also need PAN.
2	Motor vehicle (other than two wheeler)	All sales/purchases	No change
3.	Time deposit	Time deposit exceeding Rs.50,000/- with a banking company	i.      Deposits with Co-op banks, Post Office, Nidhi, NBFC companies will also need PAN; ii.    Deposits aggregating to more than Rs.5 lakh   during the year will also need PAN
4.	Deposit with Post Office Savings Bank	Exceeding Rs.50,000/-	Discontinued
5.	Sale or purchase of securities	Contract for sale/purchase of a value exceeding Rs.1 lakh	No change
6.	Opening an account (other than time deposit) with a banking company.	All new accounts.	i. Basic Savings Bank Deposit Account excluded (no PAN requirement for opening these accounts); ii. Co-operative banks also to comply
7.	Installation of telephone/ cellphone connections	All instances	Discontinued
8.	Hotel/restaurant bill(s)	Exceeding Rs.25,000/- at any one time (by any mode of payment)	Cash payment exceeding Rs.50,000/-.
9.	Cash purchase of bank drafts/ pay orders/ banker's cheques	Amount aggregating to Rs.50,000/- or more during any one day	Exceeding Rs.50,000/- on any one day.
10.	Cash deposit with banking company	Cash aggregating to Rs.50,000/- or more during any one day	Cash deposit exceeding Rs.50,000/- in a day.
11.	Foreign travel	Cash payment in connection with foreign travel  of an amount exceeding Rs.25,000/- at any one time (including fare, payment to travel agent, purchase of forex)	Cash payment in connection with foreign travel or purchase of foreign currency of an amount exceeding Rs.50,000/- at any one time (including fare, payment to travel agent)
12.	Credit card	Application to banking company/ any other company/institution for credit card	No change. Co-operative banks also to comply.
13.	Mutual fund units	Payment of Rs.50,000/- or more for purchase	Payment exceeding Rs.50,000/- for purchase.
14.	Shares of company	Payment of Rs.50,000/-  or more to a company for acquiring its shares	i.      Opening a demat account; ii.    Purchase or sale of shares of an unlisted company for an amount exceeding Rs.1 lakh per transaction.
15.	Debentures/ bonds	Payment of Rs.50,000/- or more to a company/ institution for acquiring its debentures/ bonds	Payment exceeding Rs.50,000/-.
16.	RBI bonds	Payment of Rs.50,000/-or more to RBI for acquiring its bonds	Payment exceeding Rs.50,000/-.
17.	Life insurance premium	Payment of Rs.50,000/- or more in a year as premium  to an insurer	Payment exceeding Rs.50,000/- in a year.
18.	Purchase of jewellery/bullion	Payment of Rs.5 lakh or more at any one time or against a bill	Deleted and merged with next item in this table
19.	Purchases or sales of goods or services	No requirement	Purchase/ sale of any goods or services exceeding Rs.2 lakh per transaction.
20.	Cash cards/ prepaid instruments issued under Payment & Settlement Act	No requirement	Cash payment aggregating to more than Rs.50,000 in a year.

Promotion to LSG cadre

The following Postal Assistant officials of Namakkal Division are awarded with LSG promotion by the Circle Office yesterday.

1. N.Elangovan, PA, Mohanur SO

2. S.Subramaniam, SPM, Tiruchengodu South SO

3. A.Rajasekar, SPM, R.P.Pudur SO

Congratulation to all the above officials.

Discontinuation of NSC (IX) issue w.e.f 20.12.2015