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Showing posts from September, 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.
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Extention of due date of filing of Income tax return in case of assessees in state of Gujarat.

CBDT EXTENDED THE DUE DATE OF FILING THE INCOME TAX RETURNS FROM 30.09.2013 TO 14.10.2013 IN CASES OF INCOME TAX ASSESSEES IN THE STATE OF GUJARAT ORDER AS UNDER Source: http://incometaxindia.gov.in/
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OM for Grant of Non-Productivity Linked Bonus issued.......

OM for Grant of Non-Productivity Linked Bonus to central government Employees for the Year 2012-13 has been issued today. Again the calculation ceiling for payment of bonus will be 3500/- Like ITian India on Facebook Like ITian India on Facebook
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Order of enhancement of Dearness Allowance

Dearness Allowance payable to Central Government employee is enhanced from 80% to 90% w.e.f. 01.07.2013. Ministry of Finance, Department of Expenditure issued a OM in this regard. Same is as under: Like  ITian India  page on  Facebook  to get the updated information......
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List of officers being considered for promotion to the grade of JCIT purely on adhoc basis

Today, CBDT published a list of officers being considered for promotion to the grade of JCIT purely on adhoc basis. List is as under: Like  ITian India  page on  Facebook . Source : irsofficersonline Like  ITian India  page on  Facebook . Source : irsofficersonline
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Circular of ITEF regarding Cadre restructuring and many more…….

INCOME TAX  EMPLOYEES  FEDERATION Manishinath Bhawan A/2/95 Rajouri Garden, New Delhi. 110 027. Cir. No. 31/12-15                                                              Dated: 20.09.2013. Dear Comrades,             The Confederation Secretariat met at Delhi on 19.9.2013 and decided to change the dates for the Strike Ballot to 11, 12& 13 November, 2013 and to undertake massive campaign programme prelude to the strike ballot.  The date for conducting the same in the ITEF will be communicated after the ensuing Secretariat Meeting on 27th September, 2013.     Like  ITian India  page on  Facebook .             In the name of austerity measures, the Govt. has decided and notified complete ban on creation of Posts and filling up of vacancies once again.  Even the filling up of existing vacancies that are lying vacant for various reasons for more than a year is also brought under the ambit of the orders issued on 18.9.2013.  The Confederation has decided to op
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Secretariat Meeting of the ITEF on cadre restructuring matter

Secretariat Meeting of the ITEF is scheduled on 27th September, 2013 at 10.00 AM at Aayakar Bhawan, Chowranghee Square, Kolkata, to discuss the following agenda. 1.      Discussion on the final allocation proposal based on the decisions of the last Sect Meeting held on 24th August, 2013 for implementation of the Cadre Restructuring. 2.     Consideration of the discussions/decisions of the Sub-Committees vis-a-vis our proposals with regard to the yardsticks of allocation of posts, Merger of Directorates and Recruitment Rules etc. Like  ITian India  page on  Facebook . Source : itefcentralhq.org
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Cadre Restructuring of the Income Tax Department-Furnishing of information

The CBDT has called the following information  from all CCsIT(CCA) and DGsIT(CCA) charge and asked to furnish the same on or before 20.09.2013 positively 1. Details of number of years taken for promotions at all levels within the Group 'B' and ‘C’ cadres as on 01.04.2013. 2. The Number of vacancies and eligible officials against the promotion quota at each level.  Now it is clear from this news that most awaited region wise distribution of posts may be announced after 20.09.2013. Till then, wait............. Like ITian India page on Facebook .
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Payment of Quarterly Advance Tax on or before 15th September, 2013; All Designated Branches of Authorized Banks to Function on 14th and 15th September, 2013 (Saturday & Sunday)

  All designated branches of authorized banks have been asked to function on 14th and 15th September, 2013 (Saturday & Sunday) to accept advance tax payments. If any tax payer fails to pay the advance tax on 14th/15th September, 2013, then he/she can make the payment even on 16th September, 2013. Payment of Quarterly Advance Tax on or before 15th September, 2013 by the tax payers is a statutory requirement. All such tax payers who are liable to pay advance tax must make payments in the designated branches of the banks authorized to accept tax payments. Like ITian India page on Facebook
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Notification for Extension of date for receipt of ITR-Vs in CPC, Bengaluru. for the cases of AY 2012-13 and 2O11-12 received in e-filed in FY 2012-13.

There are many taxpayers who have uploaded their Income Tax Returns electronically (without digital signature Certificate) for A.Y. 2O11-12 [filed during F.Y. 2O12-13 and for ITRs of A.Y. 2O12-13 [filed on or after 1.4,2012], but have either not filed the corresponding ITR-V or have filed it with the local Income-tax office. ITR-V is accepted only at the Centralized Processing Center (CPC) of the Income-tax Department at Bengaluru by ordinary or speed post. Therefore, a final opportunity is being given to such taxpayers to regularize their Income-tax returns. All such taxpayers may mail the ITR-V, by 31 st   October, 2O13, by ordinary post or speed post at Post Bag No. 1, Electronic City Post Office, Bengaluru - 560100 (Karnataka). Taxpayers who have filed their ITR-V with the local Income-tax office may again mail their ITR-V to the CPC by 31st October, 2013. Those taxpayers who have earlier mailed their ITR-V, but have not received the acknowledgement e-mail from the CPC, may ma
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Circular of ITGOA : Meeting with FM held on 06.09.2013 regarding implementation of Cadre Restructuring of Income Tax Department

ITGOA has circulated a Circular after the detailed meeting with Hon'ble Finance Minister held on 6-9-2013, which lasted for around 40 Minutes in the presence of Chairman & Member (P)-CBDT, DGIT & DsIT (HRD & Revenue Secretary [on official side] and President/Secretary General/Treasurer of ITGOA-CHQ and two members from Ghaziabad, on the staff/officers side. Details is as under :
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Railway Revenue Earnings up by 10.29 Per Cent During April - August 2013

The total approximate earnings of Indian Railways on originating basis during 1st April to 31st August 2013 were Rs. 54462.79 crore compared to Rs. 49382.94 crore during the same period last year, registering an increase of 10.29 per cent. The total goods earnings have gone up from Rs. 34067.51 crore during 1st April – 31st August 2012 to Rs. 37085.96 crore during 1st April – 31st August 2013, registering an increase of 8.86 per cent. The total passenger revenue earnings during 1st April – 31st August 2013 were Rs. 14758.00 crore compared to Rs. 13005.37 crore during the same period last year, registering an increase of 13.48 per cent. The approximate revenue earnings from other coaching amounted to Rs. 1560.67 crore during April - August 2013 compared to Rs. 1261.35 crore during the same period last year, an increase of 23.73 per cent. The total approximate numbers of passengers booked during 1st April– 31st August 2013 were 3533.86 million compared to 3566.83 milli
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Update on Cadre restructuring of CBEC : Instruction to all CCA to get APAR of Supdt. updated

Dept. of HRD, CBEC has insturcted all CCITs to get the ACR/APARs of Supdt.s  to be updated within 15.09.13 to get ready for issuing promotion order at the earliest in view of the ongoing restructure process which is like to be approved by the Govt. shortly. Like ITian India Page on Facebook Like  ITian India  Page on  Facebook
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Region wise deployment of manpower soon : Implementation of Cadre Restructuring of IT

The status of implementation of the Restructuring of Cadre was reviewed by Chairperson and Member (P&V), CBDT on 04.09.2013. It was observed that the work assigned to various Sub-committees engaged in the process is nearing completion which, in turn, would enable the Board to decide the key components of manpower deployment amongst various regions and constitute Directorates/office of the department. See full details:
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Changes to the NPS Structure

The Bill seeks to initiate some structural changes to NPS. NPS is known as an investment vehicle that locks in subscribers’ money till they turn 60. At 60, a subscriber can withdraw about 60% of the retirement corpus and “annuitize” the remaining 40%—buy pension product that gives periodic income.  In order to offer subscribers some liquidity, the proposed law allows for withdrawals with limits on the amount and number of withdrawals. The amendment to the Bill states: “Withdrawals not exceeding 25% of the contribution made by subscriber will be permitted from the individual pension account subject to the conditions, such as purpose, frequency and limits, as may be specified by regulations.
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