PENSIONERS EMAILS & FEEDBACK FROM March 1st 2017 : SERIES No 143 & 144

1)LIC's total assets cross Rs 24 lakh crore as on December 2016

MUMBAI: Life Insurance Corp, the country’s biggest institutional investor posted a growth of 12.81% in total assets to Rs 24.41 lakh crore at the end of December 2016. VK Sharma, chairman of LIC, said that performance is in line with their expectation.It recorded 12.43% in total premium income at Rs 1,45,031 crore during the nine month ended December 2016.ategory Ins]Hide original messageIn the same period last year, it had done total premium of Rs 1,29,001 crore.The new business income performance for the nine month period ended December 2016 saw an impressive increase of 40.11% in first year premium.

2)Below the names of Public sector Banks with the Anchor Bank (with which other Banks will get merged). 

1. State Bank of India (Anchor Bank)

State Bank of HyderabadState Bank of PatialaState Bank of TravancoreState Bank of Bikaner & JaipurState Bank of Mysore

2. Punjab National Bank (Anchor Bank)

Oriental Bank of CommerceAllahabad BankCorporation BankIndian Bank

3. Canara Bank (Anchor Bank)

Syndicate BankIndian Overseas BankUCO Bank

4. Union Bank of India (Anchor Bank)

IDBI Bank LtdCentral Bank of IndiaDena Bank

5. Bank of India (Anchor Bank)

Andhra BankBank of MaharashtraVijaya Bank

6. Bank of Baroda (Anchor Bank)

United Bank of IndiaPunjab & Sind BankBhartiya Mahilla Bank

Under direction of RBI, the clearing of cheques would be done on the same day in house where cheque is deposited i.e. with any Bank whether Nationalised & co - operative etc. and while screening if there is insufficiency of fund the bounced chq cannot be represented again & payee if need be will have to file legal complaint under section 138.

3)Travel in Rajdhani, Shatbadi at mail/express fare from April 

Printed from PTI | Mar 21, 2017, 08.28 PM IST

 NEW DELHI: Come April and a passenger can avail the opportunity of travelling in Rajdhani or Shatabdi trains even if he or she has booked tickets in other mail/express trains for the same destinations.

Railways is launching a new scheme from April 1 under which waitlisted passengers can get confirmed accommodation in the next alternative train if they opt for the option while booking their tickets.

As per the scheme, there would be no extra charges taken from the passenger or any refund provided for the difference of fare.

Known as 'Vikalp', the alternative train accommodation scheme aims to utilise vacant berths in many premier trains including Rajdhani, Shatabdi, Duronto and other special service such as Suvidha trains in all major routes.

Railways has to forego about Rs 7,500 crore in a year in refund to customers for cancellation of tickets for various reasons.

Describing the scheme as a "passenger friendly" move to provide confirmed accommodation to waitlisted passengers in alternative trains, a senior Railway Ministry official said, "We aim to achieve the twin

objectives of providing confirmed accommodation to waitlisted passengers and ensure optimal utilisation of available accommodation by this scheme."

After introduction of flexi-fare system in premier trains, some berths are going vacant while at the same time many passengers could not be accommodated in other Mail/Express trains due to huge demand.

"In any case these berths are running vacant. So whatever we can save in refund is going to be a neat save for us. No additional cost is involved to railways so anything we save will be earnings for railways," the official added.

Currently, railways is running the scheme in six routes including Delhi-Lucknow, Delhi-Jammu and Delhi-Mumbai sectors since November 1, on a pilot basis.

The system is available for online ticketing now but it will be extended to over the counter sale also as the required software is being readied for the purpose.

As per the scheme, waitlisted passengers of a train would be given option of getting confirmed accommodation in the next train running on the route.

While there is a huge demand for train berths in certain sector round the year, some routes witness increased rush during festive season.

The passenger, if opts for the 'Vikalp' scheme while booking tickets, will get SMS alert on his/her mobile phone about getting confirmed accommodation in the alternative train.

4)Some funny but heart touching facts…

👉Airports have seen more affectionate hugs than Wedding Halls..

👉The walls of Hospitals have heard more sincere prayers than the walls of Temples, Masjids & Churches…

👉Good Days or Bad Days depend on your thinking. What you call " Suffocation" in local train becomes an "Atmosphere" in Disco…

👉Pizza always confuses us. It comes in a square box. When you open it, its round. When you start eating it, its triangle. Life & People are like Pizza. Looks different. Appears different & Behave absolutely different.

👉Position matters..!!!!7 Apple: Rs.170/- Apple 7: Rs.70,000/-

5)Really funny. Specially the last one about Apple.--------S.R. Nagarajan.

6)SUPREME COURT TO GO PAPERLESS IN SIX TO SEVEN MONTHS,      SAYS CJI KHEHAR, CJI

NEW DELHI: Imagining cases without invoking printed pages is difficult, but CJI J S Khehar on Wednesday declared that in six to seven months there would be no need to file bulky paper-books as petitions and accompanying documents.

He told lawyers in court room no.1 that the Supreme Court will pick case records from trial court and high court electronically and hence there will be no need to replicate it on paper.

7)Good news from the CJI. Hopefully disposal of cases could also be expedited as against the time lag of a decade

or more as of now, to my knowledge. Hats off to CJI for his optimism and Pray it turns to reality.----S.R.Nagarajan

8)No words in the English language rhyme with "month", "orange", "silver"  or "purple".

"Hungry" and "Angry" are the only words in the English language that end in "-gry.

The number 4 is the only number that has the same number of letters in it - FOUR

Did you know the word 'Underground' is the only word that begins and ends with the letters 'und'.

The word 'Uncopyrightable' is the is the only 15 letter word that can be spelled without repeating any letter.

The word 'Typewriter' is the longest word that can be typed using only the top row of a keyboard.

Did you know the sentence "The quick brown fox jumps over the lazy dog" uses every letter in the English alphabet.

The word 'Rhythm' is the longest word without a vowel.

"Dreamt" is the only word that ends in mt.

Did you know there are only 3 sets of letters on a keyboard which are in alphabetical order - 'F G H', 'J K L', 'O P' "queue"The word "queue" is the only word in the English Language that is still pronounced the same way when the last four letters are removed.

"Dammit I'm mad" is the same spelt backwards

"Set" of all the words in the English Language, the word "set" has the most definitions.

"Bookkeeper" & "Bookkeeping" are only words in English language with three consecutive double letters.

The least used letter in the alphabet is Q.

The most commonly used word in English conversation is 'I'The dot on top of the letter 'i' is called a tittle.

There are only 4 words in the English language which end in 'dous' (they are: hazardous, horrendous, stupendous and tremendous)

The oldest word in the English language is 'town'.

The word 'Strengths' is the longest word in the English language with just one vowel.

The past tense for the English word 'dare' is 'durst'.

The first English dictionary was written in 1755. --------------Courtesy: ---- V.GOPALAN

9) The OB’s meeting at Jaipur in April 2017 on 16and 17th is really a crucial one, by thatTime, the Delhi High Court may deliver its Judgment under copy or intimation to the Supreme Court Of India. The discussions may be concentrated on the court case and

what are the steps necessary to be taken for consolidation of our rank and file in the interest of the organisation at large.After the formation of AIRIEF we have to our credit, a court case was filed after threesuccessful victories in various High Courts, the L I C filed its case in the Supreme Court through a Special Leave Application, even the L I C SLP were dismissed. finallythey were also dismissed, finally their SLP were converted into Civil Appeals. TheCivil Appeals were heard, and the matter was adjudicated to Delhi High Court with aSpecific question whether the 3a is constitutional or not. The Delhi High Court heard the whole is going to deliver its judgement very sooThe meeting will take appropriate decision which will be useful for the pensioners benefit.Secondly, there are several cases where the Judgement were already given one suchis of Shri M C Jain, second one is when the date of retirement falls 30th 31st of the month and the date of birth falls on 1st of next month, one month salary need to be paid to such retiree, third one is the officers retired in 1992 – 1993 one incremental arrears need be given as per the earlier judgement, besides the above 5 years of service need be added as per the RBI and other Govt. Undertakings to the Development Officers for calculation of Gratuity etc. Decisions have to be taken.Last but not the least important factor is strengthening of our organisation financiallyand numerically. AIRIEF is the only organisation that is fighting for the noble causeof pensioners. So, let us appeal ” to join AIRIEF and strengthen our hands and alsoStrengthen Your hands”.I hope wiser Counsels will prevail in taking appropriate decisions in an appropriate manner in an appropriate form.Wishing all the best, With regards,-------------------------L S R Krishna Rao

O U G H T O N “ O B M E E T I N G A T J A I P U R O N 1 6 - 1 7 A P R I L   2 0 1 7 ”

10)Addhar based Biometric System for Existence certificate

We had sent the letter to   LIC Central Office ED(OS) with the request to include Adhaar based Biometric System for Existence certificate (Life Certificate) on 12/02/2017 .We are thankful to LIC Central Office Management that they have accepted our request to include the Adhaar based Authentication. We hope this will help aged pensioners. Instruction issued by LIC Central Office already sent to by e-mail.thanks ---------------------------(P.N. Srivastava)General Secretary , Retired Insurance Employees Association Kanpur

11)Respected sir, What a wonderful painstaking exercise, very transparent and useful

information to each and every member of the Association. ------------My salutations. I strongly

feel that the  Honourable DHC judgement will be favourable to all the pensioners. After this

verdict ,the matter will be in Hon’ SC domain, which Court i very strongly feel expecting such

positive verdict by DHC will reiterate and confirm the verdict, no special plea or argument by our

counsels needed there. The purpose of referring the matter to Hon’ Delhi high court by the Hon’

Mr. Justice Deepak Mishra is to deliver such empathetic verdict . Hence the final judgment by

the Supreme Court will be very favourable to us. Hope for the same, God is Great. With

respects again ---- ---------G. Ramamoorthy.

12)Full Text of News Published in Business Standard today at 21.03 : The government has asked 10 public sector banks (PSB) to curtail employee benefits, including industry-standard pay hikes, if these want to receive any capital.

The Centre wants these banks to sign a memorandum of understanding (MoU) with the employees’ unions to get a commitment on this. If the unions agree, benefits such as leave travel concessions and perks could go for a few years till the banks returned to health.

All three Kolkata-based banks — United Bank of India, UCO Bank and Allahabad Bank — have got this diktat. The letter has also gone to Indian Overseas Bank, Vijaya Bank, Bank of India, Central Bank of India, Andhra Bank, Bank of Maharashtra and Dena Bank, sources said.

These banks had asked for capital from the government, some as little as Rs 500 crore. But the government is acting tough, as these have a huge bad-asset problem and their profits are dwindling.

According to sources, the letter said capital allocation would be linked with quarterly measurable milestones on which all related parties — banks’ board of directors, management and employees — must commit.

Support in the form of capital would require a tripartite MoU between the government, the PSB concerned and its employees. The MoU would be a commitment to an agreement for a time-bound plan, starting with the financial year 2017-18. It would be monitored quarterly. 

Temporary restructuring of employee benefits would be done only based on need. Any reduction or suspension in benefits could be reversed if the bank concerned successfully managed turnaround operations, said sources.

Senior bankers in some of these institutions confirmed they had received such a letter. A senior executive of a bank said the purpose of the proposed MoU was to have employees on board. “This is a commitment and not a legal provision to put blame on and basis for action against employees,” he added. 

Sources said SBI Capital Markets, the investment banking arm of the State Bank of India (SBI), has been asked to advise on the terms of the MoU.

According to a senior union leader, they would explore the option of going on strikes if they were not satisfied with the terms of the MoU. 

C H Venkatachalam, general secretary, All India Bank Employees’ Association, said employees were ready to cooperate for the effective turnaround of banks. However, unions and employees would not tolerate a vendetta or harassment. Banks have to be empowered to ensure effective recovery from defaulters, especially corporate borrowers, through legal means.

“The government wants the banks to sign the MoU with the unions to restrict economic benefits of employees. This is probably the government’s way of saying the employees of these banks deserve to be punished,” said a source. 

Bank unions might find hurdles to their agitation plans. The P J Nayak committee has already suggested privatisation of PSBs. Union Finance Minister Arun Jaitley has expressed a desire to start privatisation with IDBI Bank. Besides, the government in July 2016 said it would capitalise only 13 banks, out of the 19 it owned, based on performance. 

Bank unions were in a spot after the government gave a go-ahead to SBI to merge with its associate banks. 

Such an MoU was not unprecedented. In 1998-99, the M S Verma committee report had suggested that banks with a return on assets of less than one per cent should be liquidated. Affected banks — Indian Overseas Bank, United Bank of India and Indian Bank — had to sign such an agreement with the unions. These banks had returned to health in three years. Then finance minister P Chidambaram used to preside over the board meetings of these banks and employee benefits were significantly curtailed. 

The government is trying the same trick this time and the unions might have to oblige to save the banks from privatisation, sources said.

13)DEAR SHRI SAHNI,   KINDLY PUBLISH THESE FEW LINES IN YOUR BLOG FOR CONSIDERATION OF CASE MANAGERS AND LEADERS  WITH YOUR COMMENTS

THANK GOD WORD IS AROUND HERE AND THERE  IN YOUR BLOG  THAT THERE SHOULD BE UNITY OF ACTION.WE HAVE BEEN CLAMOURING  FOR  A LONG TIME TO HAVE UNITED EFFORT , CAUSE BEING COMMON, SO ARE THE PENSIONERS, PARTY AGAINST IS ALSO COMMON. FIGHT ALSO IS COMMON. COURT IS ALSO THE SAME FOR ALL.

THEN  WHY DIFFERENT   PARTIES. WHY NOT THERE BE A COMMON FRONT. WHY THE CASE MANAGERS AND ASSOCIATIONS ARE FIGHTING SEPARATELY.NO BODY HEARD.        WELL   BETTER LATE THAN NEVER.

IT IS HIGH TIME   ALL ASSOCIATIONS NOMINATE THEIR REPRESENTATIVE  /ADVOCATE  IF NECESSARY /CASE MANAGERAND HAVE A COMMON  PANEL OF ADVOCATES TO CONTEST  THE CASE  SO STRONG, SO FAVOURABLE  IN VIEW OF FACTS AND CASE LAWS.

THEY ALL SHOULD JOIN THEIR HEADS, HEARTS  AND HANDS TOGETHER   AND POOL THE FUNDS  FOR THE SAKE OF ECONOMY AND STRENGTH. IT IS BECAUSE FUNDS COME FROM ALL PENSIONERS THROUGH  THEIR  RESPECTIVE ASSOCIATIONS.WHEN ASSOCIATIONS JOIN TOGETHER FUNDS CAN BE POOLED   TO MEET THE EXPENSES  WHICH  ARE LIKELY TO BE HEAVY HERE AFTER.

IT IS AN EARNEST APPEAL TO ALL CASE MANAGERS AND LEADERS  OF ALL ASSOCIATIONS TO COME TOGETHER IN THE INTEREST OF ALL PENSIONERS  AND MAKE JOINT EFFORTS.

TO ENSURE POSITIVE OUTCOME   FOR  UNION  IS STRENGTH  AND  TOO MANY COOKS SPOIL THE BROTH are well known proverbs to be followed literally.

IT IS NOW OR NEVER SITUATION TO  PREPARE FOR THE  VICTORY DAY .

KINDLY CONSIDER  AND  ACT. ALL OF YOU ARE NAVIGATORS OF THE FIGHT

WITH BEST REGARDS---------------------------------M.S.SACHDEVA

14)Mumbai : Insurance companies, including LIC, will now have to publicly disclose their voting policy on resolutions in companies, where they hold stakes. The insurance regulator has asked companies to exercise their "independent judgement" and not to automatically support the proposals made by the board of the investee company.

   The directives notified on Wednesday are part of the Insurance Regulatory and Development Authority of India's guidelines on 'stewardship code' for insurance companies. The code is aimed at providing insurance companies a framework for using their power as institutional investors. The new directive is significant considering that the LIC played a significant role in recent boardroom battle involving the Tatas and former group chairman Cyrus Mistry. 

   Market regulator Sebi has also been nudging IRDAI to get insurance companies to publicly disclose their voting resolutions, with the objective of improving corporate governance.

   One of the key guidelines of the code requires all insurance companies to publicly disclose their policy for maintaining conflict of interest in a way that policyholder interest is always given priority. " The company's policy should identify scenarios of likely conflict of interest as envisaged by the board, and should also address how matters handled when the interest of clients or beneficiaries diverge from each other," IRDAI said.

   While insurance companies are not expected to interfere in management, they are required to state publicly and in advance, at what stage they will intervene in running of a company -- to protect policyholder interest.

The Times of India, Madurai, Thursday, March 23, 2017 Courtesy : ----M. P. Subramanian,Madurai

15)Section 80D: Deduction for premium paid for Medical Insurance

Sandeep KanoiCA Abhianchal Dua

Deduction is available up to Rs. 25,000 to a tax payer of premium paid for Medical insurance of self, spouse and dependent children. If individual or spouse is 60 years old or more the deduction available is Rs 30,000. An additional deduction for insurance of parents (father or mother or both, whether dependent or not) is available to the extent of Rs. 25,000 if less than 60 years old and Rs 30,000 if parents are 60 years old or more.For uninsured super senior citizens (80 years old or more) medical expenditure incurred up to Rs 30,000 shall be allowed as a deduction under section 80D. However, this deduction shall only be allowed if no payment has been made to keep in force the health insurance of such super senior citizen. The aggregate of health insurance premium and medical expenditure incurred in respect of such parents would be limited to Rs. 30,000.

For example, If an individual has paid medical insurance premium of his father (aged 82 years) of Rs. 18000 and also incurred medical expenditure of Rs. 17000. Also he incurred medical expenditure for his mother (aged 81 years) for Rs. 10000. Now, total deduction allowed will be Rs. 18000+10000 i.e. Rs.28000. This is because for father, medical insurance has also been taken so no deduction for medical expenditure of Rs.17000 will be allowed. But for mother, deduction of medical expenditure of Rs.10000 is allowed. Remember, if medical expenditure of mother is Rs.20000, then only Rs.12000 would have been allowed for deduction (18000+12000=30000*) *Maximum limit is Rs.30000.

For claiming deduction, it is mandatory that the above payments should be made by any mode other than cash (e.g. cheque, credit card, debit card, etc.)

Section 80D: Deduction for Preventive Health Check-UpA deduction of Rs. 5000 will be allowed under this section for payment of preventive health check-up of either the individual himself or his family members which includes spouse, parents and dependent children.This deduction is NOT in addition to the deduction of Rs.25000/30000 stated above, but is included in the above deduction.It is important to note that Rs.5000 is the maximum total deduction allowed. This deduction is not per person but in total. So if a person pays an amount for preventive health check up of himself + spouse + dependent children + parents, the gross total deduction allowed would be Rs. 5000.

For preventive health check-up payment can be made by any mode (including cash) for claiming deduction.Therefore, the maximum deduction available under this entire Section 80D is to the extent of Rs. 60,000.

16) 10 IMPORTANT MANTRAS FOR AGING GRACEFULLY:What I liked of all is the last line, ” no one leaves this world alive”. Yes, true but the world lives who or whatever may leave till MAHAPRALAYAM takes place according to our Sanaathaana Dharma. This occurs at the end of the Four Chathuryugas. All said and done the 10 important Mantras for aging is unique.------------------------------------------------S.R.Nagarajan

17) UGADI GREETINGS:

i)Dear Kishore , I reciprocate the sentiments a millionfold.------- ---G.Chidambar

ii) great great great message sir it will last for next ugadi at least

may GOD bless you and us through you -------- RTSwamy

iii)Dear Mr Kishore, Thank you very much  for your Ugadi greetings.I heartily reciprocate  your greetings & wish you happy celebrations overseas along with family members.

Although customs & culture may vary,the spirit of celebration transcends geographic and segmental boundaries.

I join you in praying for a happy end to the present legal struggle by six petitioners towards the common goal of the twin benefits for all pensioners.

Regards.--------------------------------CHMahadevan

iv)I WISH YOU AND YOUR FAMILY MEMBERS A VERY HAPPY, HEALTHY AND PEACEFUL NEW YEAR. LET HEMALAMBI SAMVATSARA BRING GOOD NEWS TO THE PENSIONER LOT OF LIC.     -------------------------- C T JOSHI 

v)Thanks for the very informative mail. Best wishes and greetings to you too.------------Subbaraman

vi)Thank you WISH YOU A HAPPY UGADI----------------Sundaresan T.R

18)The details of the unclaimed deposits reported by various banks under Section 26 of Banking Regulation Act (BR Act), 1949 and unclaimed amount reported by the life and non-life insurance companies are given in a Chart.

Section 26A of the BR Act, 1949, empowers the Reserve Bank of India (RBI) to establish “The Depositor Education and Awareness Fund” (the “Fund”). Under the provisions of this section the amount to the credit of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be credited to the “Fund”, within a period of three months from the expiry of the said period of ten years. The depositor, however, is entitled to claim from the bank his deposit or unclaimed amount or operate his account after the expiry of ten years, even after such amount has been transferred to the “Fund”. The bank would be liable to pay the amount to the depositor/claimant and claim refund of such amount from the “Fund”. In terms of para 9 of the Depositor Education and Awareness Fund Scheme, the “Fund” shall be utilised for promotion of depositors’ interests and for such other purposes which may be necessary for promotion of depositors’ interest as may be specified by RBI.

19) Dear friends,  I went through an article appeared in WhatsApp on the delay in delivering the reserved judgment at DHC. He has penned that the delay may lead to ultimate denial of justice to the aggrieved. I think that his apprehension finds no concrete basis. One could admit that all reasonable delays do not end with outright denials of due justice. We have witnessed ever-so-many judgments going in favour of the aggrieved. In our case, all our leaders, including the veteran Sr.Counsels appeared for us, are fully confident of securing a just and meaningful judgment. We are already aware that our issues are of major ones and that we had to put up a strong fight with needed legal tools against the unjust onslaughts of combined bureaucracy The anticipated judgement is going to be a historical one, not only for us but also to our pensioner-brethren of all PSUs. So, court may need sufficient number of days to analyse the arguments placed by both the contestants. It is too early on our part to jump upon imaginary conclusions. Such articles from our side may mislead our members when SC has permitted time for DHC up to 30th April. Verdict may come any day between today and 30th April.

     The writer has also expressed his anguish over the delay in settling the issue of paying full pension on completion of 20 years of service. Fact remains that our Chairman is fighting shy of taking any decision on monetary issues in the absence of approval by GOI. We have argued in all the courts that LIC Chairman can take decisions under certain powers conferred under LIC Act and that GOI cannot interfere into day-to-day normal functions of LIC. GOI clings upon its powers under Sec.48 even on all small and petty matters. They have also argued that decisions taken by LIC Board are only recommendatory in nature and cannot be implemented without the approval of Central government.      

    You will agree that we cannot approach courts for each and every thing. All pensioner-organizations believe in settlement of pending problems through bilateral negotiations with the management. Hence, AIRIEF, Federation of Retd. LIC Cl-1 officers at Chennai and Hyderabad, National Organisation of Insurance Pensioners, LIC Pensioners' Association and AIIPA have placed their " Charter of Demands " and discussed various issues with the higher officials on fixed agenda several times. The management sits tight and never commits anything on monetary matters. We only pity their present position. We cannot sit idle without raising our issues to be solved. How long this stalemate could continue ? We will not drop down our continuous efforts till they are heard.

    We are sure of winning our case at DHC and SC in the coming weeks. Then, certainly, we could expect a changed situation in the house of LIC. All our pending issues such as (1.) Full pension for completed 20 years of service, ( 2.) Family Pension at 30% of basic Pay, 3)Retirement on the last date of the month, though date of birth happens to be on the first day of the month, ( 4) Hiking pension by 20% to 100% on completing 80 to 100

years-of-age,  5) Rule 27 of PR 1995, notional service of 5 yrs to be added to help those who now  get proportionate pension like Development Officers, Engineers,Architects, CAs who have less than 33yrs of service ( 6 Leave travel concession,  ( 7) Festival advance,  ( 8) Another option to join medical scheme, ( 9) Doubling the present sum assured to all cadres, under FFPolicy( 10) A fixed monthly allowance towards domiciliary treatment, ( 11) Fup on MCJain case to benefit Class I Officers who retired 1/8/1992--31/3 1993. 12)Certain other specific items to be included in the list of treatment, etc. Our main demand is that whatever benefits that are allowed to Central govt pensiones under CCS Pension Rules should be applicable to all the pensionersof PSUs. 

   Let us not lose our faith. Unity will definitely bring us amicable solutions - if not to day, tomorrow.

   I will be happy if feedback pour in either-way from the readers.

With greetings.------------------M.P.Subrahmanian,,RIEA, Madurai.     

20)April 2017 DELHI HIGH COURT CALENDAR :HOLIDAYS UPTO 9th APRIL 2017

So, DHC singular Judgement can be expected after 10th April, 2017 only

Sunday Monday TuesdayWednesd

ay Thursday Friday Saturday

1

23

Local Holiday

4Ram

Navami

5Local

Holiday

6Local

Holiday

7Local

Holiday

8Second Saturd

ay

9Mahavi

r Jayanti

10 11 12 1314

Good Friday

15

16 17 18 19 20 21 22

23 24 25 26 27 28 29

30

21) 10 most important income-tax changes which will apply from April 1

By ECONOMICTIMES.COM | Updated: Mar 24, 2017, 08.05 PM ISTWith the passage of the Finance Bill on Wednesday, the Lok Sabha has completed the budgetary exercise for 2017-18. The tax proposals in the Budget 2017 have now become law. Below are 10 most important income-tax changes that will affect you next month: 

1. With a decrease in tax rate from 10 per cent to 5 per cent for total income between Rs 2.5 lakh and Rs 5 lakh, there is tax saving of up to Rs 12,500 per year and Rs 14,806 (including surcharge and cess) for those with income above Rs 1 crore. 

2. Tax rebate is reduced to Rs 2,500 from Rs 5,000 per year for taxpayers with income up to Rs 3.5 lakh (earlier Rs 5 lakh). Due to the combined effect of change in tax rate and rebate, an individual with taxable income of Rs 3.5 lakh will now pay tax of 2,575 instead of 5,150 earlier. 

3. Surcharge at 10 per cent of tax levied on rich taxpayers, with income between Rs 50 lakh and Rs 1 crore. The rate of surcharge for the super rich, with income above Rs 1 crore, will remain 15 per cent. 

4. Holding period for immovable property to be considered "long term" reduced to 2 years from 3. This will ensure immovable property held beyond 2 years is taxed at reduced rate of 20 per cent and eligible for various exemptions on reinvestment. 

5. Long term capital gains tax will result in a lower payout owing to beneficial amendments. The base year for indexation of cost (adjustment of inflation) has been shifted to April 1, 2001 from April 1, 1981. This means lower profits on sale. 

6. Further, tax exemption will be available on reinvestment of capital gains in notified redeemable bonds (in addition to investment in NHAI and REC bonds). 

7. A simple one-page tax return form is to be introduced for individuals with taxable income up to Rs 5 lakh (excluding business income). Those filing returns for the first time in this category will generally not be subject to scrutiny. 

8. Delay in filing tax return for 2017-18 will attract penalty of Rs 5,000 if filed by Dec 31, 2018 and Rs 10,000 if filed later. Such fee will be restricted to Rs 1,000 for small taxpayers with income up to Rs 5 lakh. 

9. Deduction for first-time investors in listed equity shares or listed units of equity oriented fund under the Rajiv Gandhi Equity Savings Scheme is withdrawn from 2017-18. If an individual has already claimed deduction under this scheme before April 1, 2017, he/she shall be allowed to avail a deduction for the next two years. 

10. Time period for revision of tax return cut to one year (from 2 years) from the end of the relevant FY or before completion of assessment, whichever is earlier.

22) It looks this Sloka has arrived at the RIGHT TIME.

JAYA PANCHAKAM is VICTORY SLOKA,utterred by Hanuman to Sri RAMARead the  5-STEP FORMULA for SUCCESS  which our Sr Counsels must rightly adhere to, as they did at DHC &after DHC Judgement, to accelerate fine-tuned arguments & cover the gamut of roadmap earmarked by Hon Justice Dipak Misra in his judgement dt 31/3/2016 & also to be ready to counter LIC Written Submissions & yet to submit LIC Rejoinder ,which may form a greater part of SC hearings ,after Date of hearing is decided. To adapt  the LAST few lines--a shiver of setback down the spines of LIC,UOI hearing the reverberating sound of Sr Counsels confident,assertive submissions,& replies to queries,Hon Judges taking Notes,the Pensioners fraternity appeared to be like a mighty black cloud ahead of the fall of a dark  evening descending soon heavily upon them.That will shake the ground & make path for you for Twin benefits of Full DR & Pension Upgradation -----R.B.KISHORE, VP,AIRIEF---------------------------------------------------------------------------------------------------------------------

Courtesy:Sri.Jagannathan Madhavan

From Ramayana, uttered by Hanuman to Sri Rama 

JAYA PANCHAKAM FROM SRI RAMAYANAM

It is time honored belief that reading the following Slokas from Sundarakanda, known as 'Jaya Panchakam', gives everyone the courage, the strength, the confidence, the determination and the favor of luck that leads them to success and victory in the task they are set to.These slokas, uttered by Hanuman at the start of informal and the very first skirmish ever between Rama's forces and Ravana's forces after Sita was abducted. Rama's forces, here were represented by Hanuman, a single man army.Warriors and soldiers draw their strength, inspiration and courage from the leaders they are led by. Hanuman in these slokas is hailing Rama and Sugreeva and is announcing himself, his identity and his invincible power to the Rakshasas. He is making it clear that they are meeting a force that they have to reckon with. And he successfully plants the seed of fear in the hearts of the Rakshasas that came to attack him.These five slokas give the five step formula for success, as follows:Keep confidence in your leaders and draw inspiration from them.Stake your identity and hint the might of your power.Size up clearly your abilities against the task you are facing.Have the resolve to accomplish the goal, to its end.That will shake the ground and makes path for you.

जयत्यति�बलो रामो लक्ष्मणश्च महाबलः ।राजा जयति� सुग्रीवो राघवेणाभि�पालिल�ः ॥१॥jayatyatibalō rāmō lakṣmaṇaṡca mahābalaḥ ।rājā jayati sugrīvō rāghavēṇābhipālitaḥ ॥Victory to Rama, of unsurpassed valor Victory to Lakshmana, of mighty strength And victory to Sugriva, my king, who gained their confidence ! Keep confidence in your leaders and draw inspiration from them.दासोऽहं कोसलेन्द्रस्य रामस्याक्लि&लष्टकम(णः।हनुमान् शत्रुसैन्यानां तिनहन्�ा मारु�ात्मजः ॥२॥dāsō'ham kōsalēndrasya rāmasyākliṣtakarmaṇaḥ  ।hanumān ṡatrusainyānām nihantā mārutātmajaḥ ॥I am Hanuman, the son of the mighty god of Wind ! I am here resolvedly in the service of Rama, the king of Kausala, who knows how to attain his goals effortlessly. I am but the death to you all, the distracters! Stake your identity and hint the might of your power.न रावणसहस्रं मे युदे्ध प्रति�बलं �वे�्।लिशलाभि�स्�ु प्रहर�ः पादपैश्च सहस्रशः ॥३॥na rāvaṇasahasram mē yuddhē pratibalaṃ bhavēt  ।ṡilābhistu praharataḥ pādapaiṡca sahasraṡaḥ ॥Mind you! Thousands of Ravana's wielding thousands of trees and stones would be no match for my strength! Size up clearly your abilities against the task you are facing.अद(यियत्वा पुरीं लङ्कां अभि�वाद्य च मैलि;लीम्।समृद्धा;= गयिमष्यायिम यिमष�ां सव(रक्षसाम् ॥४॥ardayitvā purīm laṅkāmabhivādya ca maithilīm  ।samṛddhārthō gamiṣyāmi miṣatām sarvarakṣasām ॥I will leave only after completing my task of annihilating Lanka right in front of the eyes of all you, Rakshasas and paying my respectful obedience to the reassured Sita ! Have the resolve to accomplish the goal, to its end.�स्य सन्नादशब्देन �ेऽ�वन् �यशङ्तिक�ाःददृशुश्च हनूमन्�ं संध्यामेघयिमवोन्न�म् ॥५॥ tasya sannāda ṡabdēna tē abhavan bhaya ṡankitāḥ ।dadṛṡuḥ ca hanūmantam saṃdhyā mēgham iva unnatam ॥A shiver of fear passed down the spines of Rakshasas hearing the reverberating sound of Hanuman's voice. Hanuman appeared to them like a mighty black cloud ahead of the fall of a dark night descending heavily upon them. That will shake the ground and makes path for you.

Let us recite this Sloka ,power of mantra is terrific, if 1000s recite, vibrations will be more &

the road to salvation & success will be imminent---- ---- R.B.KISHORE,VP,AIRIEF

COLLECTIONS : R.B.KISHORE, VP, AIRIEF : ?/4/2017

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My dear Arun,

1)Look, so many Petitioners are there, so many writs, so many Counter Affidavits after LIC/UOI combine gave their Replies/Rejoinders. Many of us would not have seen or heard about our AIRIEF Written Statement Final.On the one hand,common sense says, a good majority of AIRIEF/RIEAs members must come to know all what AIRIEF does.Further, these are intricate matters & now at a critical stage in DHC where imminently, Bench judgement can be pronounced. Nobody will be able to air any view or participate, in the real sense of the term, which is what democracy means,,unless the happenings & progress of the case stage by stage are made known.Then only some ideas, some supplementaries,,some extra data will come, which can be assimilated by the Legal Committee .

There are views & further views on whether, DHC can ask from Hyd Assn ONLY. 

Read GNSridharans release.How can we say, we shd also not read GNS or his colleagues or Legal Committee members they have nominated like Sri VKJain,Delhi  & Rajagopal,Bengaluru of GNS Fedn.

2) For a long time, baiting was going on, sarcasm was there at its highest, cartoons & caricatures were there.Later, last 2/3 months ,they themselves in many writings confirmed that NO DIG at anyone or any Pensioners Fedn shd be there, the FINAL DECISION to join or not to join ,even for DHC hearing was being dictated & ultimately, they had to succumb to EACH Fedn having its own Counsel.Everything went on well .WE cannot say again, what OTHER Sr COUNSELS said is not relevant, close ur ears.NO, NO, we shd be TOTALLY aware & alive to ENTIRE SCENARIOS, my dear, to understand FINER POINTS,NEW ISSUES ,TICKLISH QUERIES which cropped up,exit of 1 cr great Sr Counsel, appointed ! by MSM. But it fell like a pack of cards.MSM had to catch up with our AIRIEF Sr Counsel Sri Nidesh Gupta.WHAT wld  have happened if ALL joined Banerjee.It is ridiculous for any Counsel to imagine he was hurt by Hon Khannas  attitude, so he went away & confirmed to MSM nonparticipation !! 

3)Now another, if  1 Singular Sr Counsel under ANY Pensioner Fedn  can take the LEAD & conduct ALL hearings in SC,that shd happen, they say.They knew sooner ,it had no takers, said so & want others to know SPECIAL treatment meted out to Hyd Assn ,200 member strong & having dream of a Pan Indian Pensioners Fedn MSM promised long before they will periodically inform ,thro same PGG PC channel about LFD collections, they did so.What happened to MSM trumpeting ,nothing is known to OUTSIDE PENSIONERS WORLD later  perhaps ONE full year collections, promises of a certain % if arrears are received,some loan on credit,then all told Rs 45 lacs or so.

4)When we read & know that  MSM is on a whirlwind tour,& if we do not ALERT our RIEAs,I consider it as a LACUNA.In the emerging picture,EACH Pensioners FEdn will be MORE ALERT.GNS announces REGULARLY.Our releases is muted, NOT MANY will know.

   This is GNS 26/3/2017 release :    ECircular: I have been receiving enquiries on the report of the Court having called for LIC's rejoinder to a particular written submission. I have responded to them as follows:

1) The Court, in their last proceedings, had allowed (all) parties to file written submission within 10 days, and LIC also have the right to do so.

2) Our counsel confirms that our written submission had duly been provided to LIC's counsel.

3) To our knowledge as well based on info from our Counsel, there is neither a procedure to file a rejoinder to a written submission, nor there is something unique as reported; our Counsel prefers not to comment on the reported info.

4) The rest is left to our members to conclude

5) As for the statement that the 'judge is writing the judgement' we are verifying the matter, and let our members know the progress as soon as we get to know.

With Greetings,

GNSridharan Gen.Secy Fedn of Retd. LIC class1 officers' Assns------------------------5)Had I not IMMEDIATELY,time is of the essence, to atleast trusted 40 email ids including OBs,this news wild not have percolated. Tell me, was it not necessary to have had wide circulation, even NOW atleastRespective RIEA Leaders shd circulate to all email ids they haveGS<AIRIEF mentions in To --itself long long list of email ids.How many have gone thro atleast once & added a few which they feel shd be in their mailing list.We ALL ,not one or two or three shd walk the talk

U know it took me days & days,collect atleast 10/12 replies, some of their own on our Suggestions to LIC Top MGT, EDPer.I circulated on 12/3/2017 ,one of the best,as I have gone thro ALL the rest Fedns, most comprehensive & covering EXTENSIVE issues very relevant, we have to do our best, but FUP, WHO WILL DO ?AIRIEF must do.WAS it circulated by RIEAs to their Email ids,

6)We must realise that Sri CHMahadevan, Retd ED, is known for his indepth analysis,fine Excel Charts, he uses ONLY parliamentary words, ideas obviously Hyd Assn as he is their Leader.HOW can one say,dont read, dont circulate.FPensioners note & anamolies & the mass of DATA past & Projections for 20 yrs & more they have done.Whether it is reqd or not is NOT the point.They cld bear the strain & included these massive data in their Counter Affidavit, it earned 100s of voters/pensioners who were delighted DHC judgement will be a FULL VICTORY.So, PR was regular,consistent & striking followed by tours ,meetings, collecting donations etc   

7)The saying goes, if u cannot change others, u change urself, so that some good will certainly emanateIf u are even now doing what u have all along been doing, U WILL BE GETTING WHAT U HAVE BEEN GETTING ,ie delayed AFEE, only small LFR, not even 50 % ,so TENSION at last stageA Holistic, calm, unruffled decision , regular fups, Phone calls, eg WZ, NCZ, EZ have to remit appRS 28 lacs out of Rs 37 lacs.My exercise was 16 march to 21 march 2017.Unless AIRIEF follows up, in inimitable style, URGENCY , we may regret at the end.We shd not.

8)Sri KMLA says Sri Nidesh Gupta & RKSingh are associated with HYd Assn also now.He complains that Hyd Assn has not released WS submitted on 8/3/2017.They have made it openfew days before.If u dont go thro RKSahni BLog, u are ignorant to that extent.We insert ours ,AIRIEF circulars, Delhi LIve from Pramod or Ranjan,no loss oftime.FLASH only is the word. 9)There are some Veterans who dont have any political clothes ,ie only Hyd Assn ,only AIIPA etc.One such is Sri ASRamanathan ,retd thorough going legal expert & many of his writings are in PGG PC.Nothing wrong in circulating. Here is his latest on DHC asking LIC to file Rejoinder to Hyd Assn.We learn from such new material. Even great Mahatma said in PRISON before Independence, OPEN the WINDOWS of MY JAIL,let me be buffeted by winds from ALL DIRECTIONS.That, in this competitive world is absolutely reqd,Arun

Thanx for ur email, u re a social worker, thinker & somewhere I read a Right Communist.I read everything for ur info, I improve my WISDOM, mere CLOSED WINDOW, is of limited significancHere is ASR writeup ready for u , read or dont read is UR CHOICE

GREETINGS,& warm REGARDS,, All success for OB meeting on 16/17 April 2017, I am not able to attend, being in Las Vegas ,USA, Good LUCK, GODSPEED,Faith & Prayers, RKSingh has not still sent LIC WS !!

DHC verdict shd be an eye-opener, pulses are beating, heart is pounding, mind is bouncing, Oh God, have MERCY for LIC pensioners

RBKISHORE,VP, AIRIEF Las Vegas 340 pm

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