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Showing posts from July, 2013

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.

Extension of due date of filing of Income Tax Returns from 31st July 2013 to 05th August 2013 and arrangement of special counters

               The Central Board of Direct Taxes today extended the due date of filing of Income Tax Returns from 31 st July 2013 to 05 th August 2013. In view of this, CBDT also directed to all Chief Commissioners of Income Tax (CCA) to make arrangement for special counters for accepting the returns of income from 1 st August to 5 th August (including 3 rd and 4 th August, being Saturday and Sunday respectively) to facilitate income tax payers to file the income tax returns.

RTI will be applied on BCCI : Draft of Sports Development Bill 2013

Justice Mukul Mudgal, who headed the committee constituted to draft the Sports Development Bill 2013, said today that BCCI will have to come under the ambit of Right to Information Act if it wants to use 'India' as its national team's name. He also said that that all the sports bodies, including the BCCI, will have to come under the RTI once the Bill is passed by the Parliament. At a media interactin to discuss the contents of the draft Bill, Mr. Mudgal said "RTI will apply to all sports bodies and even cricket will come under it.

Disclose top 10 Income Tax assessees: CIC to I-T department

It has been directed by the Central Information Commission to the Income Tax department to disclose the list of top 10 Income Tax assessees among individual, companies and charitable organisations categories. “The information should be disclosed as it may entuse and motivate such assesses and others to pay their taxes in an hones and transparent manner”   said Information Commissioner M L Sharma. Rejecting the contention of the Income Tax Department that the information is of third party, held in confidence, and if disclosed might endanger the life and physical safety of the assessee, Sharma said couple of years ago the department felicitated highest income tax payers publicly.

वेटिंग टिकट वालों के लिए 'डुप्लीकेट ट्रेन' चलाएगा रेलवे : आपको डुप्लीकेट ट्रेन आपके गंतव्य तक ले जाएगी

आने वाले फेस्टिव सीजन में अगर आपकी ट्रेन छूट गई, टिकट कंफर्म नहीं है या ट्रेन में इतनी भीड़ है कि आप सफर नहीं करना चाहते तो कोई बात नहीं, आपको डुप्लीकेट ट्रेन आपके गंतव्य तक ले जाएगी। आगामी त्योहारों के समय में रेल यात्रियों को राहत देने के लिए प्रमुख ट्रेनों की डुप्लीकेट ट्रेन चलाई जाएगी। रेलवे अधिकारियों ने इस बात की पुष्टि की है। इसका मकसद है अधिक से अधिक यात्रियों को कंफर्म सीट या बर्थ उपलब्ध कराना।

Returns on NPS schemes for F.Y. 2012-13 - Press Release

The Pension Fund Regulatory and Development Authority (PFRDA) which regulates the National Pension System (NPS) has delivered double digit returns for the financial year 2012-13. Due to this performance PFRDA has evidenced itself as not just being the cheapest retirement product but also as the highest returns generating scheme. PFRDA informed about the average annual returns delivered by the NPS schemes, during the financial year ended on 31.03.2013,  is as under : (Weighted Average): Details are as under:  Sr. No.         Scheme Weighted.             Average Returns (in %)    1                  Central Government                                  12.39    2                 State Government                                      13.00    3                 Swavalamban                                             13.40    4                 Private: Equity                                            8.38    5                 Private: Corporate Debt        

Cadre Review of CBEC: Higlights of the final draft of the proposal............

As we all aware that implementation of Cadre Restructuring of CBDT is going on and the Cadre Restructuring of CBEC is still pending. A  quick look at the highlights of the final draft of the proposal of Cadre Restructuring of CBEC is as under: Reinforcement of cadre strength by 17442 posts (The existing strength is 66808); Introduction of two new grades – Apex (16 in number) and HAG+ (38 in number) (Initially, the numbers were 23 & 72 respectively);

JCA meeting on 29.07.2013 regarding Cadre Restructuring Implementation and related issues

Joint Council of Action of Income Tax Employee  Federation and Income Tax Gazetted Officers Association issued a notice on 19 th July informing that an extended  meeting is scheduled on 29th July, 2013, at Mapple Emarald , Rajokri, New Delhi  at 10.30AM to consider the following agenda items. 1. Cadre Restructuring Implementation  and related issues, 2. Strengthening of JCA at Circle/Unit Level

Income Tax Deptt. Sends Letters to Another Batch of 35,000 Non-Filers Tax Payers again urged to disclose their true Income and Pay Due Taxes

According to PIB News, the Income Tax Department, as part of its ongoing initiative, on 22.07.2017 has sent letters to another batch of 35,000 non filers. Non-filers identified as a result of data matching exercise, these persons were part of the around 12 lakh non filers.

Govt to relax norms for PSU employees to join NPS : The Hindu

The government is considering relaxing norms to enable PSU employees to join the National Pension Scheme and a Cabinet note in this regard is likely to be moved soon, interim pension regulator PFRDA said on Wednesday. “We have taken up this matter with the Department of Public Enterprises (DPE) Secretary and he has prepared a note which he would be soon taking to the cabinet,”   Pension Fund and Regulatory Development Authority (PFRDA) Chairman Yogesh Agarwal said in New Delhi. Under the existing guidelines, if an employee of central public sector undertakings (CPSUs) does not have a minimum 15 years of services, he or she cannot join National Pension Scheme (NPS), Mr. Agarwal said on the sidelines of a seminar titled “Financial Consumer Protection” here.

CONFEDERATION OF CENTRAL GOVERNMENT EMPLOYEES & WORKERS DECIDES TO TAKE STRIKE BALLOT FOR INDEFINITE STRIKE

The first meeting of the National Secretariat of the CONFEDERATION OF CENTRAL GOVERNMENT EMPLOYEES & WORKERS  was held at New Delhi on 22.07.2013. Com. K. K. N. Kutty, National President, presided. The main highlights and decisions of the National Secretariat meeting are as under :- 15 Pointes charter of demands and future course of action:- The meeting decided to organize independent campaign and agitational programmes culminating in indefinite strike. The specific decisions were: (i) To organize state level joint strike conventions of C-o-C with the participation of all affiliated unions/Associations/Federations during the month of August 2013. Whereever the C-O-C functioning is not satisfactory or has no participation of district units, efforts must be taken to revamp the committee.

Departmental Exam for ITI and ITO resheduled

Departmental Exam for ITI and ITOs has been rescheduled. It will start from 20th September 2013 instead of 18th as earlier announced. Ministerial Exam will start as announced before, 25th September 2013. Detailed program is as under :

CBDT extended the due date of filing of Income Tax Returns for assessees residing or assessed in the State of Uttarakhand

In respect of income-tax assessees residing or assessed in the State of Uttarakhand, the CBDT, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, has extended the 'due-date' for filing Returns of Income required from 31.07.2013 to 31.10.2013, considering the large-scale devastation due to recent natural calamity in the Uttarakhand.

Cadre Restructuring of Income Tax Department : Action taken by ITGOA

The association of Income Tax Gazzated Officers, ITGOA, circulated a letters to all its members through all its units to inform activities at CHQ level mainly on Cadre Restructuring issues. ITGOA informed that following actions have been taken against the adverse aspects of Cadre Restrucring-2013 1.    A detailed note on the adverse impact of CRC-2013 has been prepared highlighting the very large number of posts in the grade of DCIT/ACIT that would remain vacant and that too for considerably long period i.e. 8 to 10 years. Besides, deteriorating stagnation in the level of ITO which is the feeder grade for Promotion Quota in the grade of ACIT has been duly depicted as also consequent demoralizing effect on ITOs. Lastly, it has been brought out that these twin aspect will result in an adverse impact on the Revenue Collection and Service to Tax Payers. Copy of the note is enclosed herewith and this has already been given to all Units of ITGOA.

Grant of Family Pension and Gratuity to the eligible member of the family of any employee/pensioner : PIB

Family pension is payable to the family of a Government employee or pensioner after his death. Difficulties in payment arise when a Government Servant or pensioner goes missing. Clarificatory instructions have recently been issued by the Central Government for payment of benefits in such cases. According to these instructions, the family must lodge a report with the concerned police station and obtain a report from the police, that the employee or pensioner or family pensioner has not been traced despite all efforts made by them. The report may be a First Information Report or any other report such as a Daily Diary or General Diary Entry. The family can apply for the grant of family pension, amount of salary due, leave encashment due and the amount of GPF and gratuity (whatever has not already been received) to the Head of Office of the organisation where the employee or pensioner had last served, six months after lodging of police report. The amount of salary due,

Grant of special Incentive Allowance for non executivestaff in CBI

The good news comes for Non-Executive Staff in CBI as approval of the competent authority is conveyed for payment of Special Incentive Allowance @ 15% of Basic Pay w.e.f. 20.12.2006.

Implementation of Cadre Restructuring of Income Tax Department starts: Upgradation of CCsIT/DGsIT

Implementation of Cadre Restructuring of Income Tax Department sets in motion by upgrading all CCsIT/DGsIT to HAG+. The posts of Chief Commissioners of Income Tax/ Director Generals of Income Tax  stand upgraded from HAG scale of Rs. 67000/- - 79000/- to HAG+ scale of Rs. 75,500/- to 80,000/- w.e.f. w.e.f. 23.05.2013. The OM in this

Exit rules under National Pension System for Government Employee Subscribers

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY PFRDA has issued necessary instructions to CRA for implementation of the withdrawal process under National Pension System (NPS) for all sectors viz., Government Employees, All Citizen model and Swavalamban scheme. The said information is being re-iterated hereunder for the information of all stakeholders for a better appreciation of the matter. The following are the details for the withdrawals allowed in case of Government Employees subscribers: a) Upon Normal Superannuation: At least 40% of the accumulated pension wealth of the subscriber needs to be utilized for purchase of annuity providing for monthly pension to the subscriber and balance is paid as lump sum payment to the subscriber. b) Upon Death: The entire accumulated pension wealth (100%) would be paid to the nominee/legal heir of the subscriber and there would not be any purchase of annuity/monthly pension. c) Exit from NPS before the age of Norma

अब वेटिंग टिकट पर नहीं कर सकेंगे सफर, देना होगा जुर्माना

रेलवे एक तरफ मुसाफिरों की सुविधा के लिए कदम उठा रहा है तो दूसरी तरफ यात्रियों की मुश्किलें भी बढ़ती जा रही हैं। रेलवे ने टिकट बुकिंग की सुविधा एसएमएस के जरिये मुहैया कराते हुए यात्रियों को राहत दी तो वेटिंग टिकटों से जुड़े नियमों में बदलाव कर वह मुसाफिरों की दिक्‍कत बढ़ाने जा रहा है। अब वेटिंग टिकट लेकर ट्रेन में सफर करना आसान नहीं होगा क्‍योंकि आपको किसी भी स्टेशन पर उतारा जा सकता है। इतना ही नहीं , आप से जुर्माना भी वसूला जा सकता है। रेल मंत्रालय के इस आदेश को तत्काल प्रभाव से लागू कर दिया गया है। पुराने नियम के मुताबिक रेलवे रिजर्वेशन काउंटर से टिकट लेने वाले यात्री वेटिंग टिकट पर सफर कर सकते थे , लेकिन अब इस नियम में बदलाव किया गया है। अब किसी भी तरह की वेटिंग टिकट को ट्रेन में मान्यता नहीं मिलेगी। गौरतलब है कि इससे पहले इस तरह का नियम केवल ई - टिकट के वेटिंग टिकट पर ही लागू था। स्लीपर कोच में सफर करने वाले य