Managerial Administration

Vision of PM Narendra Modi

The vision of PM Narendra Modi

-Rashmi

Honorable Prime Minister Narendra Modi shared his vision using his monthly radio addresses through 'Mann Ki Baat' and the year 2022 mentioned as a milestone to accomplish the New India. Everybody is aware that India's strength is hidden in its villages and the empowerment of poor people particularly villagers can make India be ahead of other developing nations. On his Narendra Modi app, the Prime Minister had asked the people to take a pledge and join him in building a New India by 2022 - the year when the country completes 75 years of Independence. That New India, the appeal said, would be "driven by innovation, hard work, and creativity... characterized by peace, unity, and brotherhood...free from corruption, terrorism, black money, and dirt".

The Prime Minister emphasizes the development and growth of Brand India and he is committed to providing an environment, governance system, and basic industrial infrastructure that nurture entrepreneurs.

Film Cities for Economic Development

The investment opportunities derive from the economic development of nations. The investors identify the lucrative projects to invest their money in and get maximum returns out of it. With the controversies over Bollywood in the Film City of Mumbai, the new talented and creative boys girls who want to join Film City are looking for new Film cities instead of Ramoji Film City or Mumbai Film City. No Doubt, India is full of talent and it is required to develop more Film Cities to sustain the talent and use the creativity for the Economic Development of India.

Film Cities in India:

Film Production is not a new thing and every Chief Minister of States of India wants to develop Film City in his state. The entertainment industry is one of the most profitable industries for the states to generate income from taxation. Even tourism income also takes boost with the development of Film cities. At present, the Ramoji Film City in Hyderabad is a world-class film city as far as infrastructure is concerned. Every year, an unlimited number of tourists visit the place to get exposure to the city. Secondly, Mumbai Film City where most of the films are shot by the producers with the looks of mountains and simple villages in the same film city. Third, Bengaluru has its Innovative Film city which is a great source of income for their State. Chennai has its MGR Film City.

Why develop Film Cities?

The state governments in India are looking for opportunities to increase the sources of revenues and the only source of revenue i.e. taxation cannot be increased beyond a limit and there is always resentment from the public of the state due to the rise in taxation and other penalties imposed over them. The development of film cities not only generates taxes but also utilizes the potential of the youth of the state to perform something with their talent and sell through the producers of the films, television programs, or serials in the entertainment market. The Film City development requires the construction of complexes, lakes, mountains, grounds, and lucrative natural scenes to be used in producing the movies, serials, and events.

Motion Picture Production:

Motion picture production is the only great source of income as per the data of Los Angles Economic Development Corporation. The company is producing movies in Hollywood, generating jobs for millions, and leading the entire film city.

CM Yogi Adiyanath to develop biggest Film City in India:

In September 2020, the Chief Minister of Uttar Pradesh, Sh. Yogi Adityanath takes up the opportunity for developing one of the biggest film cities in Uttar Pradesh. In 2020, the Bollywood industry is affected by the suicides and death of the Bollywood stars and it is required that new investors be attracted to re-establish the entertainment market and produce movies as per the demands of viewers. The Chief Minister consented to have a projection upon the new projects for the development of Film Cities in locations nearby Noida, Uttar Pradesh. The land identified in Noida or Greater Noida which are already a good location in the Uttar Pradesh State and it is a great opportunity for the Indian Youth to develop their entertainment skills for getting employed or be producers as the location of Noida Film City already attracting the investors.

Turning Waste into Power:

source: https://goo.gl/images/Ttp2jE - An initiative of "Lowell AD Waste - To - Energy".

Jattu Engineer Movie:

In the movie, Jattu Engineer; saint Gurmeet Ram Rahim has performed an act of Shakti Singh Sisodia, a head-master of school, and in the story of the movie he demonstrated how a village can be self-independent and how rural farmers can lead the smart cities of India. The movie "Jattu Engineer" revolves around an underdeveloped village facing problems of poverty, unemployment, and drug menace. With the help of the guidance of the headmaster, the villagers tried to cope with their economic problems and are successful with the inspiration and efforts of the headmaster. The story tells us about the process of rural upliftment and how to break the vicious circle of poverty in rural areas of India. As the story is very inspirational and the roles of Saint Gurmeet Ram Rahim are greatly appreciated by each viewer, the movie has become tax-free in Haryana and Rajasthan.

This article is written by Mrs. Rashmi and was published on 23rd May 2017 and last updated on 10^th October 2021. The writer can be contacted at setiarashmi@gmail.com

Sum and Sumif Functions MS Excel

-Dr. Lalit Kumar Setia

We are well aware of the Sum function which makes the total of the figures provided in a cell range in Excel. We need to know about the other Sum Series functions to make our work easier in MS Excel. There are eight formulas associated with the word SUM:

Suppose you are working in a particular organization where products are sold, every day, a lot of categories of products are sold. The Excel software can make the work easier by keeping the record of each category of products sold during the day, week, month, etc.

In ordinary SUM function, it is well known that the cell range numeric values are totaled and it is not required to explain more. For example =SUM(A2:A6) is used to do the same work as we use =A2+A3+A4+A5+A6 for making a total of the cell values. We can use the various cell ranges in the brackets also. For example, two cell ranges can be totaled by using the function: =SUM(A2:A4,C2:C3).

How to use SUMIF?

Suppose you have data of sales of many companies and many products associated with each company. Merely using the SUM function will add the cell values of the range without applying any condition upon it. But if you want to apply a condition before screening the cell values for summation, then SUMIF is used.

In the above example =SUM(A2:A6) is making the total of cell values of A2 to A6 without applying any condition. Suppose the values are 12,15,20,25,50 in the cells A2 to A6. Now if you want to make a total of values above 20 only what can you do? Here it is required to apply a condition before making a summation. Therefore, SUMIF will be used.

Cell Values
12
15
20
25
50
122	sum(A2:A6)
75	SUMIF(A2:A6,">20")

This article is written by Dr. Lalit Kumar Setia; a renowned author and trainer. He completed his Doctorate in Commerce from Kurukshetra University Kurukshetra and MBA in Information Technology from GJU, Hisar. He also wrote two books, 15 research papers, and organized more than 200 Training Courses during his working period since 2006 in Haryana Institute of Public Administration, Gurugram. The article was published on 29th September 2021 and last updated on 29th September 2021. The writer can be contacted on lalitkumarsetia@gmail.com

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Web-Enabled Online Treasury Information System OTIS

Web-Enabled Online Treasury Information System OTIS

-Dr. Lalit Kumar

The Electronic Payment System (EPS) is implemented in Government with the support of the National Informatics Centre (NIC) and Treasuries and Accounts Department. The web-enabled various modules are incorporated one by one to computerize the operations of the treasury of a state. The Government of Haryana implemented various modules for e-Governance including Online Budgeting, e-Billing, e-Salary, e-GRAS, e-Pension, e-Stocking, Web-enabled OTIS, NPS, RD, CCD, PLA, etc.

Web-Enabled Online Treasury Information System OTIS

A. Online Budget:

Financial Management starts from the estimation of receipts and expenses in the upcoming financial year. For smooth functioning of Budget Estimation, firstly it is required to prepare and submit the Budget Estimates online with the help of module of Online Budgeting. In Haryana, the Online Budget Allocation, Monitoring, and Analysis System is used to prepare and allocate the Budget.

B. e-Salary, e-Billing, and e-Pension:

The salaries are the most important component of the payments of the treasuries and with the e-Salary module, the function is streamlined effectively. After the retirement of an employee, the pension is processed with the help of the e-Pension module. The e-Billing module in Haryana is nowadays used for processing payments through Electronic Payment System (EPS) mode to employees and persons other than employees. All types of Bills/Cheques/Refund Çlaims etc. are processed in the modules for transparency and e-Governance in the State Governments.

The EPS pay orders are processed by the Treasuries, with the help of Drawing and Disbursing Officers (DDOs), in case any EPS pay order is unpaid, it is canceled from the treasury and the fresh bill is required to be submitted in the e-Billing system.

Closing of Bank Accounts and Using only UCP for Payments

In order to stop parking of funds, the Government decided to close bank accounts that are opened in the name/designation of the Officers in the banks for Government transactions. A meeting of the Public Accounts Committee (PAC) in Haryana, on 3^rd December 2013 made serious observations regarding parking of funds outside the Government accounts. Such accounts were decided to close immediately or permission is taken from the Finance Department. In case, accounts are closed, the amount lying in the bank accounts be deposited in state treasuries without any delay.

The directions of the Government state that once a bill/cheque/refund order is presented in the e-Billing system, it makes the payment directly in the account of the payee and the earlier irregular practices of transfer of government funds in current or saving account of banks by the DDOs/HoDs needs to be strictly curbed except exceptional circumstances, where the procedure of operating bank account cannot be done away with.

C. e-Post Sanctioning System

In May 2014 in Haryana, to streamline the process of sanctioning various new posts, a module was added in the Integrated Financial and Human Resource Management System (IFHRMS), known as the e-Post Sanctioning System. The departments were directed first to enter the details of sanctioned posts and working strength of each and every post of their existing offices. The data was submitted and sent to the Finance Department and no change is possible without the permission of the Finance Department.

Creation of posts or Shifting of Posts

For the creation of new posts or shifting of posts within the department, the request can be processed from Establishment Controlling Officer (ECO) to Establishment Controlling Authority (ECA). Thereafter the approval may be sought from the Administrative Department. After getting the approval, the Head of Department/BCA can send the demand of creating new posts or shifting of posts, to the Finance Department.

In order to verify whether the new posts are created or not, whether the posts are shifted from one office to another or not? The DDOs can use the system to view the existing sanctioned posts and their working strength in various offices. The system entry is a must to create or abolish or shifting/transfer a post.

In case of any problem in the e-Post system, the Officers may communicate at softprobl@gmail.com or contact on the telephone numbers mentioned on the website of Online Budgeting.

D. e-TDS Module in the e-Billing portal

To avoid the late fee/penalty i.e. Rs. 200 per day to be paid by the Drawing and Disbursing Officer, under section 234E of Income Tax Act; the e-Billing module of Treasuries Department supports DDOs to file the quarterly TDS return online.

This article is written by Dr. Lalit Kumar Setia; a renowned author and trainer. He completed his Doctorate in Commerce from Kurukshetra University Kurukshetra and MBA in Information Technology from GJU, Hisar. He also wrote two books, 15 research papers, and organized more than 200 Training Courses during his working period since 2006 in Haryana Institute of Public Administration, Gurugram. The article was published on 25th September 2021 and last updated on 25th September 2021. The writer can be contacted on lalitkumarsetia@gmail.com

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Reconciliation of Receipt Expenditure Figures

Reconciliation of Departmental Receipt/Expenditure Figures

-Dr. Lalit Kumar Setia

I would like to bring the attention of all Drawing and Disbursing Officers (DDOs) of Haryana on the instructions of the Finance Department recently issued for reconciliation of the Departmental Receipt / Expenditure figures with those booked by the Accountant General Haryana for the Financial Year 2021-22. A copy of the instructions is available at the following link:

http://www.finhry.gov.in/FileUploads/Upload_7e3ee3fd-cdec-4106-8d0f-ec1652850d2d_.pdf

Cash Management in Government:

All receipts are deposited in the Treasury or Bank of the State Governments and Union territories and the initial accounts are maintained at the treasuries. The detailed accounts of all receipts are kept in the office of concerned departmental officers. Similarly, all payments are made from the treasury or bank of the State Governments and Union Territory, and the initial accounts of payments are kept at the treasury, and such accounts are maintained by the officers of the concerned departmental officers.

The Accountant General office receive the monthly accounts supported with vouchers of all the transactions completed at the level of treasuries after the end of each month. Based on accounts furnished by the Treasury Officers, the departmental classified abstracts are compiled by the Accounts Officers showing monthly receipts and payments of the concerned departments under major, minor, sub, and detailed heads.

The cash balances are also reconciling as per Government Accounting Rules 1990.

Use of Computerized Accounting:

The states with Computerized Accounting can easily perform these tasks of reconciliation with the help of software in the background whenever any transaction is passed by the Treasury Officers and concerned DDOs. In Haryana, the State Government is working to find out such a mechanism, however, till today, no mechanism is adopted for automatic reconciliation with the help of software.

More about Computerized Accounting in Government:

https://drlalitsetia.blogspot.com/2020/08/computerized-accounting-systems.html

Digitalization of Vouchers and e-Receipts and e-Payments in Haryana:

Haryana is one of the leading states of India, which adopted e-Receipts and e-Payments in treasury-related transactions. The vouchers have also been digitalized. However, the task of reconciliation is still complicated. The letters are issued by the Finance Department Haryana for reconciliation of the figures of expenditure and receipt, with the accounts of Accountant General regularly by 7^th of the 2^nd following month.

Why reconcile the Accounts?

The reconciliation is a must to check the accuracy of the figures and trace the financial irregularities if any. It facilitates departmental control over expenditure. As per Government Accounting Rules 1990, it is essential for proper accounting and efficient management of State Finances. The reconciliation work of DDOs must be completed on time without making any delay and the same should be communicated to the B&C Branch of Finance Department.

The Head of Departments (HoDs) of Government Organizations get the work of reconciliation of expenditure and receipts with the accounts of Principal Accountant General, Haryana. As per Government Accounting Rules, 1990; at the end of each month, the balances shown in the cash accounts rendered by the Treasury Officers will be reconciled with the statements of the closing balance received from the Central Accounts Section of the Reserve Bank.

https://drlalitsetia.blogspot.com/2021/03/haryana-budget-2021-22-overview.html

Understanding National Pension System

The Pension Fund Regulatory and Development Authority (PFRDA) is the Authority to regulate the provisions of National Pension System. The persons who opt to join National Pension System are provided a Unique Account Number known as Permanent Retirement Account Number i.e. PRAN. The records relating to transactions in PRAN are maintained by Central Recordkeeping Agency (CRA).

Tier I and Tier II Account:

First of all, Tier-I Account is opened automatically after joining the National Pension System. The Tier-II Account is not mandatory but can be opened if anyone wants to maintain it as an investment.

How much returns are earned?

The National Pension System returns depends upon the Net Asset Value of the units, in which the amount is invested. The amount grows with Market Linked Returns, on accumulated contributions of Tier-I and Tier-II over a period of time.

How much amount is withdrawn on Exit?

As per National Pension System rules, at least 40% of the corpus of the amount on exit, is required to be utilized for procuring a pension plan. Whatever percentage is opted by the subscriber on exit, the remaining amount can be realized out of the corpus. The amount utilized in purchase of pension plan is tax exempt.

The maximum amount i.e. 60% of the corpus in the hands of subscriber is tax exempt.

Why Government Employees are required to contribute mandatorily?

The Central Government Employees recruited on or after 01.01.2014 and the employees of State Governments except West Bengal, are required to contribute at the rate of 10% of the salary in NPS and an equal amount is also contributed by the Government. However, on 01.04.2019, a decision was taken in the Central Government to enhance the rate to 14%. For Government employees, there are nodal officers for maintaining the contributions.

On employee’s contribution, the deduction of 80CCD (1B) can be taken in income tax up to an amount of Rs. 50,000.

The citizens and companies can adopt National Pension System on voluntary basis. For individual Citizens, there are ‘Point of Presence (PoP)’ and now eNPS portal for maintaining contributions and downloading of statements. For companies, the employers or ‘Point of Presence (PoP)’ maintains the contributions.

How NPS is Administered?

Without intermediaries, it seems impossible to maintain wide scope of National Pension System; therefore, the PFRDA appointed Central Recordkeeping Agency (CRA), NPS Trust, Points of Presence (PoP) and Annuity Service Providers (ASPs) for administering NPS. Now a days, it is possible for the subscribers to manage NPS with the help of mobile app also.

Partial Withdrawl from NPS Tier-I:

Maximum three times partial withdrawl can be done. Up to 25% of the own contribution of subscriber in each time. The partial withdrawl can be done after contributing for at least 3 years or 3 years from the date of PRAN Number. Between two such withdrawls, there should be at least 5 years gap. There is not tax payable on such withdrawl.

Next Article:

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Filing Income Tax Return

The Income Tax Return (ITR) is mandatory to be e-filed by every person whose Gross Total Income is more than his Basic Exemption Limit i.e. Rs. 2,50,000 for Individuals who are not senior citizens, Rs. 3,00,000 for senior citizens, and Rs. 5,00,000 for super senior citizens. The individuals before e-filing the Income Tax Return should prepare details and keep in hand so that no problem appears while filling the desired Income Tax Return Form. What documents should be realized for preparing the details of incomes. Why to provide complete details and how to be assured that every financial earning has been detailed as required by Income Tax Department:

(i) Form 16 from Employers:

The salaried individuals should receive Form 16 from their respective employers as it is a proof of the Tax Deducted at Source by the employer and the details provided in Form 16 should be kept in hand so that the same details are filled in Income Tax Return Form under the head ‘Salaries’.

(ii) Form 16A from Deductors other than Employers:

In case, the tax is deducted by others than the employer/s then Form 16A should be realized from them. Generally, banks and post office deduct tax at source on ‘Interest on Deposits’; in such cases, Form 16A should be taken from them and kept in hand while e-filing Income Tax Return.

(iii) Form 16B from the Buyers:

Sometimes, properties are sold during the financial year and buyers deduct Tax Deduction at Source from the amount to be paid by them. In such case, the buyer deposits such TDS to Income Tax Department and generate Form 16B. Therefore, in such cases, Form 16B should be taken from the Buyers (if any).

(iv) Form 16C from Tenants:

In case, an individual is getting rent form the tenants and it is more than Rs. 50000 per month; in such cases, the tenants are directed to deduct Tax Deduction at Source from the payment of rent to the individual (landlord). Then the tenants deposit the TDS in Income Tax Department and realized Form 16C to be provided to the landlord. Such Form 16C should also be realized and kept in hand while e-filing Income Tax Return.

(v) Tax Credit Statement 26AS / Annual Information Statement - AIS from website of Income Tax:

Apart from Form 16, 16A,16B, and 16C from the Deductors, an individual should also download Tax Credit Statement 26AS / Annual Information System - AIS, from the website of Income Tax Department and match the details of deductions at source with the Tax Credit Statement before e-filing Income Tax Return. In case of mis-match, it should be decided which details are accurate and accordingly the return should be filed. In case, there is any mismatch, the individual should ask the deductor to rectify the mistake and e-file rectified TDS statement so that accurate amount be reflected in Tax Credit Statement / Annual Information Statement. In case, the mismatch is not corrected, then the individual will receive a notice from the Income Tax Department for clarification of mismatch.

(vi) Statement of interest on Deposits:

The amount of interest earned on deposits in Post Office, Banks, and other Financial Institutions should be prepared from the Statement of Interest taken from them.

(vii) Collection of proofs to claim Deductions:

There are a lot of deductions available to be claimed under section 80C to 80U for the individuals and there are a lot of exemption available under section 10 which may be taken into consideration while quantifying the taxable portion of incomes earned during the financial year. An individual should keep all the records relatingto claimed exemptions, deductions in separate file as the proofs may be asked by the Income Tax Officers at any time in future.

Generally, tax savings are claimed for investments under section 80C, 80CCC, 80CCD (1) limited upto an amount of Rs. 1,50,000 and additional benefit for NPS investment of Rs. 50000 in 80CCD(1B); and for expenditures under other sections i.e. 80D to 80U. In 80D, the proof of receipt for payment of Health Insurance Premium for self, spouse and/or children and in 80E, proof for payment of interest on education loan should be maintained. For deduction in 80G, the details of organization come under 80G with name, PAN number, location etc; should be prepared and kept in hand.

(viii) Home Loan Statement with Interest Charged:

In case of home loan taken from Bank or Non-Banking Financial Companies; the statement of home loan principal amount as well as interest amount charged during the year should be taken. The amount of principal amount is counted in 80C for deduction purposes and ‘interest on home loan’ is claimed under the head ‘income from house properties’ under section 24. The maximum amount for self-occupied property for interest is Rs. 2,00,000.

(ix) Income on sale of Capital Asset:

The individuals who sold any capital asset during the financial year, should compute income or loss on the sale of Capital Asset. The details of buyer with PAN number should also be available at the time of e-filing Income Tax Return. In case of sale of mutual funds, equity shares, such details can be taken from the broker.

(x) Details of Bank Accounts:

Before e-filing Income Tax Return, an individual should prepare the list of active bank accounts and it is also required to pre-validate the bank accounts so that the refund (if any) can easily come in the pre-validated bank account. For pre-validation, it is necessary to link the bank account with PAN which is usually linked. For each bank account, the details i.e. Bank Name, Account Number, IFSC Code and type of Bank Account should be ready.

(xi) Aadhaar Details:

An individual should keep the Aadhaar details ready while e-filing Income Tax Return. It is mandatory now to quote Aadhaar number in Income Tax Return; even for e-verification, a message come on Aadhaar linked mobile number for verification of the Income Tax Return at the end of e-filing Income Tax Return.

New portal for e-filing Income Tax Return:

The old portal of incometaxindiaefiling.gov.in has been replaced with new portal incometax.gov.in from FY 2020-21. The ITR forms have also been changed. The process is also changed. What are the major changes, let’s understand in simple words. Firstly, JSON utility is introduced for offline filing of Income Tax Return (ITR) for the convenience of the taxpayers. Secondly, the old return preparation software is replaced with more interactive return preparation software in new online tax payment system, integrated for immediate processing of ITR.

What happens if a taxpayer withdraws amount exceeding a specified limit:

From FY 2020-21, as per the Budget 2020 speech, a new section was introduced i.e. 194N. The taxpayers who have not filed ITR for last three years and withdraw cash in excess of Rs. 20 Lacs, have to pay 2% TDS. For normal taxpayers the limit is Rs. 1 Crore from FY 2019-20, from one bank / post office account. In case, the amount is withdrawn above the limit, 2% TDS is deducted.

Such persons under Income Tax Act, will not be eligible to file ITR-1 and such TDS will also not be carried forward to next year if it is not claimed as refund during the current year.

Tax on Dividend Income in the hands of Recipient:

The Dividend Distribution Tax (DDT) has been abolished from FY 2020-21. If a taxpayer received Dividend from company, it will be taxable in the hands of taxpayers.

Tax Deducted at Source for the payments to Resident Contractors and Professionals:

The contractors with turnover / receipts exceeding Rs. 1 crore and the professionals with turnover / receipts exceeding Rs. 50 Lacs require to get their books audited. The deductors for the taxpayers with audited books, are required to deduct TDS under section 194C and 194J respectively.

In case, the TDS is not deducted u/s 194C and 194J then the TDS at the rate of 5% will be deducted u/s 194M.

In case TDS is deducted u/s 194M, the deductors have to issue Form 16D to the payees / deductees within 15 days of the due date of furnishing the challan-cum-statement in Form 26QD.

Last updated - July 18, 2021

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Tax Deduction at Source - TDS

-Dr. Lalit Kumar*

The income tax is sometimes deducted at source, by the person who is making payment to another person for whom, it is an income. The payer deducts the tax and then deposit into the Income Tax Department and it is known as Tax Deducted at Source. This system is incorporated by Income Tax Department to reduce the theft of tax. In Income Tax Department, all types of payments on which it is required to deduct the TDS, are detailed and accordingly the person making payment (known as Deductor), required to deduct the TDS and remit the same in Income Tax Department. The payments include salaries, interests, commissions, brokerages, professional fees, royalties etc.

Registration as Tax Deductor in Income Tax Department:

The persons who are required to deduct the TDS, also required to firstly take the Tax Deduction Account Number i.e. TAN which is of 10 characters. 3 characters of Jurisdiction code, 4^th for initial of the name of person followed by 6 characters generated by system including 5 numeric and 1 alphabet.

The TAN number can be obtained by applying on the website of NSDL-TIN. It’s fee is only Rs. 55 plus GST as processing fee.

Quoting of TAN:

Whenever a deductor deducts the TDS, it is required to be deposited in the Income Tax Department quoting the TAN Number. Thereafter, a return is required to be filed by the deductors, quoting the TAN number and details of challans through which the payments were made. It is also required to generate TDS Certificate and provide it to the person on whose income, the TDS was deducted and deposited in the Income Tax Department.

Penalty for not realizing TAN or not quoting accurate TAN Number:

Rs. 10,000 penalty is imposed upon a person who have not applied for TAN and making the payments without deducting TDS or if the person has obtained TAN but not quoting the same accurately in the TDS returns and certificates.

*This article is contributed by Dr. Lalit Kumar, an Expert on Financial Management accessible on https://wa.me/919416382720

Accounting and Finance through MS-Excel Software

*Three-Days course on “Accounting and Finance through MS-Excel Software” during January 1-3, 2020 at Divisional Training Centre HIPA, Near Azad Nagar Police Thana, Rajgarh Road, Hisar (Haryana)*

Objective

The course was designed to build and enhance the capacity of officers deal accounting and financial functions by using MS-Excel Software i.e. more effectively with more accuracy.

Benefits:

By the end of this course participants become able to:

• Create tables, graphs, and apply formulas in spreadsheets for dealing with accounting and financial matters.

• Use excel tools to prepare Cash Book, Payroll sheet including TDS, Medical Reimbursement Sheet, etc.

• Use excel to prepare utilization of funds, budget manual 10 and budget manual 2.

Next Page - Accounts Administration and Efficiency:

https://managerialadministration.blogspot.com/2018/10/accounts-administration-and-efficiency.html

Training Needs Analysis (TNA)

Training Needs Analysis by Faculty of Financial Management HIPA

In order to ascertain the training needs, a specific form was designed and circulated among the participants. "I would request you to kindly fill your responses to a few questions designed to know training needs. The responses can easily be filled with sparing approximate time of 5-10 minutes after clicking the following link:

https://forms.gle/SmPgBe5CFFEUgpku9

The responses can be changed even after submission. I will consider the responses in designing my future courses at Gurugram, Panchkula, Hisar, and Rohtak. For any assistance, feel free to contact me at 9416382720 or email me at lalits.hipa@nic.in".

I have received 123 filled forms from the participants and the results of the same are shared with you all in this group.

On the basis of the results, I will do the following for my participants:

1. Most of the courses with 5-Days and 3-days will be organized during 2019-20. 32% agreed for five days and 19% agreed for 3-days courses. The two week courses got 25% but such courses will be organized after getting demand from the competent authorities. It is the norm of HIPA.

2. For location, most of the courses will be organized at Rohtak and Hisar, a few at Panchkula as the responses are 27, 23, and 14%. The courses with demand from the competent authorities will be organized at Gurgaon because that location is usually booked by HIPA authorities for induction courses through out the year.

3. The topics which will specifically be focused are:

Out of 123 responses, the following topics received more than 20% weightage:

1. Issues related to Income Tax and Goods & Services Tax
2. Human Resource Management System (HRMS)
3. Maintenance of Stock Registrer & Service Book
4. Condemnation of Articles
5. e-Tendering
6. Leave Rules
7. Medical Reimbursement
8. Duties and responsibilities of DDOs
9. Cash Book Maintenance
10. Noting and Drafting including e-Office
11. Preparing Budget estimates
12. Spreadsheet Modelling
13. Computerized Accounting
14. Purchase Procedures
15. Group Insurance Scheme
16. e-TDS using Treasuries portal
17. Audit Sensitization
18. Right to Information Act
19. Internal Audit
20. National Pension System (NPS)
21. e-Billing
22. Disciplinary Proceedings
23. Personality Development
24. e-Challan
25. Stress Management
26. Government Accounting
27. Conduct Rules
28. Financial Management (Core basic issues)
29. Loans and Advances

I especially thank all 123 participants to guide me in selecting appropriate topics and taking decisions with regard to next year courses. Those who wish to submit their response, can submit whenever possible; the form will remain active for forever.

On basis of the responses 29 topics received more than 20% weightage and the same will be planned for the next year courses.

RTI in Proper Information Management

The Right to Information Act was enacted in the year 2005 and since then it is continuously working as a tool of ensuring transparency in public sector organizations. The section 4(1) states the provisions for pro-active disclosure of information on the website and public domain so that people not require to apply with RTI act to take the information from the offices. In case the information will be made available on digital platforms, the number of RTI applications will automatically reduced significantly.

In case, the RTI act' compliance is not properly ensured the applicants have freedom to request First Applette Authority (FAA) for getting the information available as per the provisions of the act. In case, the applicant not satisfied then there are provisions to go to the information commission and seek proper action for improper compliance of the Act.

With the fear of imposition of penalty, the government officers give priority to provide the information in the stiputed time frame of RTI Act. Recently, the Satark Nagrik Sangathan prepared a "Report Card on the Performance of Information Commissions" which stated that almost 97% of the cases with violation of RTI Act (during 2018-19), didn't imposed any penalties on the officers and due to this failure of the information commission; the offices will start further violating the act.

Further, the government organizations have also started to use 'Record Retention Schedule' to dispose off the old official records as per the service rules.

Innovative Entrepreneurship in Business

Image source: Courtesy for Pyramid College.

It's unfortunate that most of the people prefer to do Service instead of being an innovative entrepreneur. Everyone should learn from the lifetime happenings, try to get exposure to potential and expected solutions to the problems arise in life. After practicing the solutions, problems seem to be opportunities. Ultimately, survival of a person or business leads to Success. Therefore, "Learn. Practice. Prepare. Survive. Survival situations can happen when least expected. The best defense is knowledge and confidence in the skills that will keep us alive--whether it's for a few hours, days or long term."

Innovation to reduce cost of operations:

The entrepreneurs seek the ways to reduce the cost of operations, a lot of companies are coming ahead in logistics, online marketing, e-commerce by innovating the operations earlier performed by the traditional shop-keepers. The reduction in cost of delivering goods and services, creating new opportunities for such companies. The Pepkart Logistics which is popular today for delivering large-sized furniture items, was the result of an innovative idea.

Building Teams to face cut-throat competition:

The entrepreneurs build teams and then rely on the teams by empowering them to come up with ideas of success. The new experiments which deliver good results in terms of achieving the goals, are preferred to be recorded and made part of the procedures to perform functions. The events are organized to disseminate such ideas among various team-members to deliver maximum performance with framing strategy to defeat cut-throat competition.

Retain the Talent and Bring the Results:

The talented employees who performed better, are always appreciated, motivated, and inspired to generate more results. The abilities of the talented employees, to turn ideas into profitable activities are not only appreciated but also rewarded to show-case the same to the other employees.

Positive Environment along with proper delegation of authorities:

The principle of staffing is, “Right person should be provided the right job”, is followed and the authorities are delegated properly as per the capabilities of the employees. The whole organizational environment seems positive and the manpower involved in functions bring maximum performance.

Removing Barriers with Business Process Re-engineering:

The organizational systems, structures, and processes are re-framed as per the practices under Business Process Re-engineering (BPR). The ideas are transformed to reform the processes by removing the barriers and hurdles in the work of employees. The leadership plays critical role in it, as the change through Business Process Re-engineering depends upon the will-power of Chief Executive Officer or Head of the organizations.

Thinking outside the box:

The creativity and innovation works everywhere, in every function, procedure and process. The entrepreneurs re-look the workings and think outside the box to improve the overall output or outcome of the organizational activities. The leveraging entrepreneurship potential is the key for success of present businesses. Everytime, efforts should be made to achieve the goals with intellect than to seek support of others. Let's take the example of Acharya Chanakya who described the qualities of an intelligent person. In business, whenever any loss is occurred no need to tell others about the loss because the people receiving this information may either laugh upon you or try to harm you or plan to get any advantage out of it. Instead of telling others it should be tried to do hard work and get rid of the problem. Telling others who are unable to guide seriously, can increase the problem and the people can take advantage out of it.

According to Chanakya every person has his own personal life and no person should disclose the issues of his personal life to others because others may make fun behind you.

You might also be interested in the following:

1. Success depends upon Attitude rather than Ability

2. How Meditation Works in Mitigating Stress

3. Fill positivity in your hearts

4. Attitude and Life

5. Life is full of struggle for Teachers

6. Art of Staying Calm in Difficult Situations {Part-5}

7. Parents in nurturing Children

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