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.
The central government is likely
to constitute the 7th Pay Commission for revising the salaries of its over 50
lakh employees before the start of process of next general elections due in
May, 2014.
"The Finance Ministry is
working out a Cabinet proposal for constitution of the 7th Pay Commission which
could be taken up for consideration in the next couple of weeks," a source
said.
According to information
available, the government's intention to constitute 7th Pay Commission before
going for polls is clear as it has made provision of Rs. 3.5 crore in the
second supplementary demands for grants in this regard which was approved by
Parliament in the just concluded Winter Session.
Earlier in September this year,
Finance Minister P. Chidambaram had announced that Prime Minister Manmohan
Singh has approved setting up of the 7th Pay Commission.
According to the announcement,
the Commission will be mandated to submit its report in two years time and its
recommendations would be implemented from January 1, 2016.
However, after that announcement,
no formal proposal was put up before the Union Cabinet for constitution of the
Commission.
As per the practice, the
Commission is headed by a former Supreme Court Judge and its other members
would include experts and officials.
Meanwhile, the government is also
believed to have approved fixing minimum pension of Rs 1,000 per month under
the Employees 'Pension Scheme 1995 (EPS-95) run by retirement fund body Employees'
Provident Fund Organisation (EPFO).
The government is also understood
to have cleared maximum basic wage ceiling of Rs. 15,000 per month for
deduction of Provident Fund from existing Rs. 6,500 per month for private
sector workers, in general, covered under schemes run by EPFO.
Source : The Hindu
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