Skip to main content

New Income Tax Rules – Submission of false Aadhaar number may be fined Rs. 10,000

As it is well known that the income tax department has allowed Aadhaar card holders to use the biometric id number in lieu of the Permanent Account Number (PAN). But as per new provision of Income Tax, fine of Rs. 10,000 may be levied in case of wrong Aadhar Number. As per the latest amendments in the Finance Bill 2019, not only allowed people to use Aadhaar in lieu of PAN but also introduced a penalty for giving a false Aadhaar number. However, the new penalty rules are applicable only in cases where you are using Aadhaar in lieu of PAN and where quoting PAN is mandatory according to the income tax department rules. It is well known that although Aadhaar is issued by the Unique Identity Authority of India, yet the fine is not imposed by UIDAI but by the income tax department. Under Section 272B of the Income Tax Act, 1961, the department can impose a penalty in case of default in complying with provisions relating to PAN, i.e., failure to obtain, quote, or authenticate PAN.

Income Tax offices will remain open on Saturday and Sunday, K. V. Choudhary will be New Chairman, CBDT

Income Tax offices will remain open on Saturday and Sunday, the 26th and 27th July to receive returns as the due date of filing of return is 31st July 2014. All field offices will accept returns during normal office hours.

Special arrangements may also be made by way of opening additional receipt counters, wherever required, on 26th, 27th , 28th, 30th and 31st July, 2014 to facilitate the taxpayers in filing their returns of income conveniently and in a timely manner.


New CBDT Chairman


Mr K.V. Chaudhary, 1978 batch IRS Officer will be the new Chairman CBDT from 1st August 2014. He will succeed Mr R.K. Tiwari who will retire on superannuation

Special Return Receipt Counters

The Chairman, CBDT shall inaugurate the Special Return Receipt Counters tomorrow at 10.30 AM at Pratyaksh Kar Bhavan, B-Block, ground Floor, Civic Centre, Minto Road, New Delhi-2. Extensive arrangements have been made by the Department to facilitate the taxpayers in filing their income tax returns.


Comments

Popular posts from this blog

DA will be 100% w.e.f. January 2014

Now it is very clear from the AICPIN issued today that DA will be 100% w.e.f. January 2014. Decline in AICPIN for December, 2013 vanished the expectation for crossing the DA from 100%. However, it will give a great relief to Central Government Employees and Pensioners as DA will be enhanced by 10% again. View ITian India on Facebook View statistics data for AICPIN here

Last date for filing the acknowledgement extended for AY 2009-10, 2010-11 and 2011-12

As per the new circular dated 10.02.2014, Central Board of Direct Taxes, in exercise of powers under section 119 (2) (a) of the Act, hereby further relaxes and extends the date for filing ITR -V Form for Assessment Years 2009-10, 2010-11 and 2011-12 till 31.03.2014 for returns e-Filed with refund claims within the time allowed under section 139 of the Act. The taxpayer concerned may send a duly signed copy of ITR-'V' to the CPC by this date by speed post In such cases, Central Board of Direct Taxes also relaxes the time-frame of issuing the intimation as provided in second proviso to sub section (1) of Section 143 of the Act and directs that such returns shall be processed within a period of six months from end of the month in which ITR-V is received and the intimation of processing of such returns shall be sent to the assessee concerned as per laid down procedure. Provision of sub-section (2) of section 244A of the Act would apply while determining the interest on such refund

New Income Tax Rules – Submission of false Aadhaar number may be fined Rs. 10,000

As it is well known that the income tax department has allowed Aadhaar card holders to use the biometric id number in lieu of the Permanent Account Number (PAN). But as per new provision of Income Tax, fine of Rs. 10,000 may be levied in case of wrong Aadhar Number. As per the latest amendments in the Finance Bill 2019, not only allowed people to use Aadhaar in lieu of PAN but also introduced a penalty for giving a false Aadhaar number. However, the new penalty rules are applicable only in cases where you are using Aadhaar in lieu of PAN and where quoting PAN is mandatory according to the income tax department rules. It is well known that although Aadhaar is issued by the Unique Identity Authority of India, yet the fine is not imposed by UIDAI but by the income tax department. Under Section 272B of the Income Tax Act, 1961, the department can impose a penalty in case of default in complying with provisions relating to PAN, i.e., failure to obtain, quote, or authenticate PAN.