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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.

DA Merger with Pay : AIRF puts pressure on government

Struggle is still going for the merger of Dearness Allowance with pay. In this line of action, AIRF (All India Railwaymens Federation) wrote a letter to the Secretary(Exp.), Ministry of Finance putting pressure on government to merge DA with Pay. 
Read the contents of the letter of AIRF as below:


On the persistent forceful demand of the Central Government employees, including Railwaymen, successive Central Pay Commissions were appointed by the Government of India with a view to improve upon wage structure and to grant parity with other employees of the Public Sector Undertakings in the wake of market inflation and price hike of essential commodities. These Pay Commissions, while recommending revised pay structure, have also recommended grant of Dearness Allowance on the basis of increase in the Price Index.
The very purpose of compensating the pay with payment of Dearness Allowance is being defeated because of unbridled inflationary pressure on the economy and the consequent steep rise in the price of essential commodities. This has resulted in erosion of the value of the wage, remarkably beyond tolerable limit, as a consequence of which, payment of Dearness Allowance has failed to compensate devaluation of pay.
While Dearness Allowance was merged with the pay on crossing the percentage beyond 50% during V CPC as the actual value of wage devaluated because of market hike to compensate eroded value of the wages besides payment of Dearness Allowance, but this time Dearness Allowance, which has already gone beyond 80% w.e,f. 1st July, 2013, is yet to be merged with the pay.
It would, therefore, be quite appropriate and in the fitness of the thing that Dearness Allowance is merged with the pay for all purposes to compensate the erosion in the wage in the wake of market inflation and steep price hike of essential commodities which are posing serious constraints in the livelihood of the Govern employees in general and the low-paid employees in particular."

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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.

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

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