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.
As Finance Minister is currently out of the country and scheduled to return the capital tomorrow, the file related to Cadre restructuring of Income Tax may be placed on tomorrow or day after tomorrow. The notification in this regard may be issued soon.
On the other hand, all employees are eagerly waiting for Finance Ministry's Memorandum regarding revised dearness allowance w.e.f. January 2014 and the March month is going to its end. It is pertinent to mention here that in the last year, the approval for enhancement of DA was issued on 18th April.
Comments
Post a Comment