Voluntary Retirement Scheme to BSNL, MTNL Employees.

   (a)&(b)    Department of Telecommunications (DoT) has received proposals of Voluntary Retirement Scheme (VRS) from BSNL and MTNL. Both Public Sector Undertakings (PSUs) have prepared their proposals with a view to reduce manpower expenses. The VRS proposal of BSNL and MTNL aims at reduction of 1,00,000 and 21,000 employees respectively. Both PSUs will be able to manage with reduced staff by way of greater utilization of Information Technology and re-engineering of business processes in tune with the current business environment.

   (c) During the last five years, BSNL has recruited 48 Deputy General Managers (DGMs), 628 Junior Accounts Officers (JAOs), 4171 Junior Telecom Officers (JTOs) and 7213 Telecom Technical Assistant (TTAs). The appointments are not in excess of BSNL’s requirement.

Scholarship for SC students to reach Bank Accounts directly.

   The unearthing of a scandal in the disbursal of scholarship amount to school students of Scheduled Castes in Namakkal district a few months ago has prompted the State Government to decide that the money would hereafter be transferred to the savings bank accounts of beneficiary-students.

   Chief Minister Jayalalithaa gave an instruction to this effect at the recent conference of Collectors and Police Officers, a senior official said.

   As part of the Chief Minister’s direction, 2.5 lakh eligible students, studying in government and government-aided schools, would be covered. The basic savings accounts would have to be opened in banks so that the amount due to the students would be transferred directly. In case some students have SB accounts in post offices, they can also be covered.

Tax exemption on Leave Travel Allowance(LTA)

   The Income-Tax Department allows you to claim exemption from tax on leave travel allowance only twice in a block of four calendar years.

   With the year end approaching, are you planning a vacation to use up the Leave Travel Allowance (LTA) your office offers? Good idea! But while you’re planning and packing for that holiday, spare a thought for what LTA means for your taxes. With that in mind, here are three aspects about LTA that you should keep note of.

EXEMPTIONS

   First and the most important is the tax exemption angle. If you have been thinking that the amount you get as LTA is tax-free all the time, you are not correct. The Income-Tax department allows you to claim exemption from tax on this amount only twice in a block of four calendar years.