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.
Ofcourse it is very early to calculate the Dearness Allowance which will be effected from 01.07.2014. However, curiosity of government employees has no end. Today Labour Bureau, Ministry of Labour and Employement issued a press release and stated that there is increase of only 1 points in All India CPI-IW for February, 2014 and pegged at 238 points. AICPIN for the month of March and April will give the clear figure for the expected Dearness Allowance w.e.f. July 2014 but on the basis of points of Feb 2014, increase of Dearness Allowance on 01.07.2014 should not be less than 5%.
View the Press Release Here
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