ALLAHABAD BANK OFFICERS’ RECRUITMENT PROJECT-2010-11

Allahabad Bank invites ON-LINE Applications from Indian Citizens for recruitment against 127 vacancies. Candidates are required to apply ON-LINE through Bank’s website . No other means/mode of application will be accepted.


Reservation in Posts: (including backlog)

Scale	No. of Vacancies					Out of which for Physically challenged (PC)
	SC	ST	OBC (*)	GEN	Total	OC	VI	HI
TEG Scale – VI	-	-	-	01	01	1	2+2**	1+15**
SMG Scale – V	-	-	-	01	01
SMG Scale – IV	-	-	-	01	01
MMG Scale – 111	02	01	02	05	10
MMG Scale – II	02	04	10	17	33
JMG Scale – I	12	08	19	42	81
TOTAL	16	13	31	67	127	01	4	16

SALARY AND EMOLUMENTS:
A. JMG, Scale-I : Pay Scale : Rs.14500-600/7-18700-700/2-20100-800/7-25700
B. MMG, Scale-II : Pay Scale : Rs.19400-700/1-20100-800/10-28100
C MMG, Scale-III : Pay Scale: Rs.25700-800/5-29700-900/2-31500
D SMG, Scale-IV : Pay Scale : Rs.30600-900/4-34200-1000/2-36200
E SMG, Scale-V : Pay Scale : Rs.36200-1000/2-38200-1100/2-40400

DA, HRA, CCA etc. will be paid as per Bank’s rules in force from time to time depending upon place of posting. Medical, LTC, Terminal Benefits etc will be admissible as per prevailing Bank’s rules.

Name of Post/ Vacancies:

Post CodeNo.	Posts	Grade/Scale	No. of vacancies
1.	Chief Law Officer in GENERALIST cadre.	TEG,Sc-VI	1 (One)
2.	Assistant General Manager (Economist) in GENERALIST cadre.	SMG, Sc-V	1 (One)
3.	Chief Manager (Taxation) in GENERALIST cadre	SMG, Sc-IV	1 (One)
4.	Senior Manager (Treasury cum Forex) in SPECIALIST cadre	MMG,Sc-III	10 (Ten)
5.	Manager (Research Analyst / Statistician) in SPECIALIST cadre.	MMG,Sc-II	2 (Two)
6.	Manager (Taxation) in SPECIALIST cadre.	MMG,Sc-II	2 (Two)
7.	Manager (Law) in  SPECIALIST cadre.	MMG,Sc-II	19 (Nineteen)
8.	Manager (Security) in SPECIALIST cadre.	MMG,Sc- II	10 (Ten)
9.	Official Language Officer / Hindi Officer in SPECIALIST cadre	JMG,Sc- I	6 (Six)
10.	Officer (IT) in SPECIALIST cadre	JMG,Sc-I	75 (Seventy Five)

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Time limit for filing ITR-V for assessment year 2009-10 extended

Friends,

The Central Board of Direct Taxes (CBDT) has decided to extend the time limit for filing ITR-V forms relating to income-tax returns for A.Y. 2009-10 filed electronically (without digital signature) on or after 1st April 2009. These ITR-V forms can now be filed up to 31st December 2010 or within a period of 120 days of uploading of the electronic return data, whichever is later.

2. The relaxation has been made since there are still returns relating to A.Y. 2009-10 for which the ITR-V forms have not been received at the Centralised Processing Centre (CPC), Bengaluru or have been received after 31st March 2010 or have been filed with the Assessing Officers. These taxpayers are being given a final opportunity to send ITR-V forms to the CPC by the dates mentioned in para 1 above.

3. The ITR-V forms should be sent by ordinary post or speed post to Post Bag No.1, Electronic City Post Office, Bengaluru:– 560100 (Karnataka).

TDS RATES AS PER DIRECT TAX CODE BILL APPLICABLE WEF 01.04.2012

Sr. No.	Nature of Payment	Rates of TDS where deductee is a resident
		The present rates	Proposed rates under the Code
1	Salary paid to employees	Rates as per the slabs and rates prescribed by the Finance Act	Average rate of tax on salary paid during the financial year
2	Payment in respect of works contract	1% (where deductee is individual/HUF)	2%
		2% (where deductee is person other than individual/HUF)
3	Payment in respect of any service contract	__	2%
4	Payment in respect of broadcasting and telecasting/advertising	1% (where deductee is individual/HUF)	2%
		2% (where deductee is person other than individual/HUF)
5	Supply of labour for carrying out any works, or service contract	1% (where deductee is individual/HUF)	2%
		2% (where deductee is person other than individual/HUF)
6	Payment in respect of carriage of goods and passengers by any mode of transport other than railways	1% (where deductee is individual/HUF)	2% (No deduction of TDS in case of carriage of goods by road if deductee furnishes PAN)
		2% (where deductee is person other than individual/HUF)
7	Interest	10%	10%
8	Dividend other than dividend on which DDT is payable	10%	10%
9	Commission, brokerage, remuneration or prize (by whatever name called) for rendering any services	10%	10%
10	Fees for professional or technical services	10%	10%
11	Payment for royalty or non-compete fees	10%	10%
12	Compensation on compulsory acquisition of immovable property other than agricultural land	10%	10%
13	Rent for the use of machinery or plant or equipment	2%	2%
14	Rent for use of land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings	10%	10%
15	Winning from any lottery or crossword puzzle or card game or other game of any sort	30%	30%
16	Winnings from any horse race	30%	30%
17	Income distributed by mutual fund on which income distribution tax is not paid	Not applicable in present law	10% (where deductee is individual/HUF)
			20% (where deductee is person other than individual/ HUF)
18	Payment by a life-insurer where payment under life policy is not tax-exempt	Not applicable in present law	10% (where deductee is individual/HUF)
			20% (where deductee is person other than Individual/HUF

TDS on Salary without PAN -Surcharge Cess Not applicable u/s 206AA

There are two employees (not having PAN) in our Noida office (salary Rs. 13,50,000 and Rs. 14,00,000). In spite of our persuasion, they are not interested in obtaining PAN. How much tax is deductible in these cases? Should we include education cess in the rate of 20 per cent TDS rate under section 206AA? Likewise, our company will have to make payment to a foreign company of Rs. 1.5 crore in the month of November. PAN is not available, tax will be deducted at the rate of 20 per cent. Should we deduct tax at the rate of 20 per cent or 21.12 per cent?
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Surcharge is applicable when recipient is a foreign company and the payment or credit subject to TDS is more than Rs. 1 crore. This is imposed by sub-sections (5)/(6) of section 2 of the Finance Act, 2010 read with Part II of the First Schedule to the Finance Act. These sub-sections read as follows –

(5) In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D and 195 of the Income-tax Act, at the rates in force, the deductions shall be made at the rates specified in Part II of the First Schedule and shall be increased by a surcharge, for purposes of the Union, calculated in cases wherever prescribed, in the manner provided therein.

(6) In cases in which tax has to be deducted under sections 194C, 194E, 194EE, 194F, 194G, 194H, 194-I, 194J, 194LA, 196B, 196C and 196D of the Income-tax Act, the deductions shall be made at the rates specified in those sections and shall be increased by a surcharge, for purposes of the Union, in the case of every company, other than a domestic company, calculated at the rate of two and one-half per cent of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees.

There is no reference of section 206AA in the two sub-sections of section 2 of the Finance Act, 2010. Likewise, a reference of section 206AA is missing in the First Schedule to the Finance Act.
Education cess is imposed by sub-sections (11) and (12) of section 2 of the Finance Act, 2010. Even in these sub-sections, one fails to find out a reference of section 206AA. Consequently, the rate of 20 per cent under section 206AA cannot be increased by surcharge and education cess.
In the case of payment to foreign company tax will be deducted by you at the rate of 20% (I am assuming that the normal TDS rate is lower than 20%). In the case of salary payment TDS will be calculated as follows –

Particulars	When salary is
	Rs. 13,50,000	Rs. 14,00,000
	Rs.	Rs.
Taxable salary on which tax is deductible	13,50,000	14,00,000
Normal tax
Income-tax	2,59,000	2,74,000
Add: Education cess at the rate of 3%	7,770	8,220
Total (a)	2,66,770	2,82,220
Tax under section 206AA
Tax at the rate of 20% on taxable salary (b)	2,70,000	2,80,000
Tax deductible under section 192, read with section 206AA [(a) or (b), whichever is more]	2,70,000	2,82,220