Thursday, December 10, 2015

Income Tax Department simplifies online rectification of TDS in ITR

Income Tax Department simplifies online rectification of TDS in ITR

New Delhi: Aimed at making life easier for tax payers, the Income Tax department today said it simplified the process of online rectification of incorrect details of tax deducted at source (TDS) filed in the income tax return (ITR).

Earlier, taxpayers were required to fill in complete details of the entire TDS schedule while applying for rectification on the e-filing portal of the I-T Department.

To avoid this, the finance ministry said a new facility has been provided for pre-fillin ..

To avoid this, the finance ministry said a new facility has been provided for pre-filling of TDS schedule while submitting online rectification request on the e-filing portal to facilitate easy correction or up-dating of TDS details.

“This is expected to considerably ease the burden of compliance on the taxpayers seeking rectification due to TDS mismatch,” an official statement said.

Errors due to incomplete TDS details in rectification applications were leading to delays in processing of such applications, thereby causing hardships to taxpayers, it added.

PTI

Employees can withdraw EPF money without employers permission

Now, employees can withdraw EPF money without employers’ permit

employees can withdraw EPF money without employers permission

Employees can avail the benefit if details such as Aadhaar number and bank account number have been linked to the EPF UAN and their KYC verification has been done by the employer
New Delhi: Employees will no longer need the approval of their employers to withdraw money from their Employees Provident Fund (EPF) corpus.

If details such as Aadhaar unique identity number and bank account number have been linked to the EPF universal account number (UAN) and their know-your-customer (KYC) verification has been done by the employer, then the employees can avail themselves of the benefit of this hassle-free initiative immediately, the Employees Provident Fund Organisation (EPFO) said on Tuesday.

The state-run retirement fund manager also issued an order on Tuesday to all its field offices across India, instructing them to give effect to the order immediately.

In its quest to make EPFO a more subscriber-friendly organization, the retirement fund manager had delinked the employer from the process, central provident fund commissioner K.K. Jalan said.

Currently, employees need the approval of their employers to withdraw their EPF corpus, leading to unwanted delays on occasion.

Many employees have complained to the EPFO that organizations at times use their approval powers as a tool to harass them.

“Employees whose details like Aadhaar number and bank account number have been seeded into their UAN and whose UAN has been activated, may submit claims in Form 19, Form l0C and Form 31 directly to the commissioner without attestation of their employers, in such form and manner as may be specified by the central provident fund commissioner, for fast settlement of claims,” the EPFO order dated 1 December said.
Since October 2014, the government has allowed EPF number portability through UAN.

All active EPF subscribers have been allotted a UAN which needs to be linked to his Aadhaar and bank account numbers.

The employer verifies the details and approves the KYC details through a digital signature.

But in the past one year, not all EPF subscribers have activated their UAN on the EPFO portal, largely due to three key reasons—lack of awareness, pending KYC and lack of digital signature.

Of the over 40 million active subscribers, only 21 million have activated their UAN, as per data available with the labour ministry.

EPFO authorities said the simplified withdrawal process will work as a catalyst to persuade more employers to get their KYC done and activate their UAN.

“As a retirement fund body, we are now focusing on our subscribers. We are turning subscriber-friendly and hope more people can take benefit from it,” said Jalan, adding that as the corpus and the subscriber base grows, EPFO will continue to adopt new practices.

EPFO has a corpus of more than Rs.8 trillion—Rs.6 trillion directly under it and another Rs.2 trillion with exempted trusts and company trusts who manage their own EPF under the direct supervision of the EPFO. The corpus has been growing by 15% every year for the last couple of years.

Sharad Patil, secretary general of Employers Federation of India, said that the move looks “logical”. “If the withdrawal happens through Aadhaar and bank account, it will reduce the settlement period and also cut down the chance of corruption in the EPFO,” Patil said.

Source: Livemint.com

EPFO may raise interest rate on PF from 8.75% for FY16

EPFO may raise interest rate on PF from 8.75% for FY16

EPFO interest rate on PF


Retirement fund body EPFO is likely to increase the interest rate on PF deposits for 2015-16, from 8.75 per cent fixed for the last two financial years, during its trustees’ meet tomorrow.

Retirement fund body EPFO is likely to increase the interest rate on PF deposits for 2015-16, from 8.75 per cent fixed for the last two financial years, during its trustees’ meet tomorrow.

“Though the proposal for fixing rate of interest on PF deposits is not listed on agenda, the EPFO’s apex decision making body the Central Board of Trustee (CBT) can announce rate in its meeting scheduled tomorrow,” according to a source.

The source further said the meeting is called mainly to discuss the restructuring of Employees’ Provident Fund Organisation (EPFO), but since the EPFO has worked out income projections for the current fiscal, the rate of interest can be fixed in tomorrow’s meeting.

The income projections for the current fiscal suggest that the body can pay rate of interest which is slightly higher than 8.75 provided in 2013-14 and 2014-15.

The Finance Ministry, however, wants EPFO to retain the existing interest rate of 8.75 per cent for FY 2015-16.

During a recent meeting of top officials from the finance and labour ministries, the former urged the latter to retain the interest rate at 8.75 per cent for the current fiscal as well in view of the government’s intention to reduce rate of returns on small saving schemes and PPF, said the source.

However, fixing the interest rate solely depends on the EPFO’s apex decision making body CBT, headed by the Labour Minister, as the body provides rate of return from its own income.

Source: financialexpress.com

Minimum Government and Maximum Governance

Minimum Government and Maximum Governance

A citizen friendly and accountable administration is the focus of the government. A series of steps to achieve this goal have been initiated. These include simplification of procedures, identification and repeal of obsolete/archaic laws/rules, identification and shortening of various forms, leveraging technology to bring in transparency in public interface and a robust public grievance redress system.

Doing away with the practice of submitting Affidavits for small level executive jobs in the Government and allowing Self-Certification of certificates is one important step in this regard. This has greatly led to the reduction in time and effort on the part of both the citizen as well as the officials in many Government offices.
Leveraging the power of information technology brings with it the advantage of transparency and speed for the benefit of the citizens. In this regard the Government has embarked upon a time bound Digital India Plan. The details of this plan are available on the Website of the Department of Electronics & Information Technology (www.deity.nic.in). As a part of Digital India Plan, the Department of Administrative Reforms & Public Grievances has been made the nodal ministry for implementation of e-Office in Central Ministries/Departments. The Department is regularly monitoring implementation of the e-Office project. The Ministry of Panchayati Raj has moved into 100% e-Office platform.

The Central Secretariat Manual of Office (CSMOP) has been revised and the 14th Edition of the CSMOP was brought in the form of e-Book form on 22nd May, 2015, which is available on the website www.darpg.nic.in. This is a much reduced and simplified version of the manual in comparison to the earlier editions. A number of redundant and repetitive literatures and words have been removed.

The Government of India has also taken a number of initiatives for improving ‘Ease of Doing Business’. The emphasis has been on simplification and rationalization of the existing rules and introduction of information technology to make governance more efficient and effective.

One of the focus areas of Government is to reduce the decision making layers to the minimum while allowing for faster means of information sharing/dissemination. The Government has launched a website mygov@nic.in and india.gov.in for this purpose. This is a citizen centric platform to empower people to connect with the Government and contribute towards good governance. Suggestions are also received on the PMO website. It also seeks expert advice from the people, thoughts and ideas on various topics that concern India. Citizens can join the discussion to share, debate and add value.

This was stated by Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Prime Minister’s Office Dr. Jitendra Singh in Lok Sabha today in a written reply to a question by Shri Nalin Kumar Kateel, Shri B.N. Chandrappa, Shri D.K. Suresh and Shri R.K. Bharati Mohan.

PIB

Transfer Policy of Railway Officials

Transfer Policy of Railway Officials

Press Information Bureau
Government of India
Ministry of Railways
09-December, 2015

A Comprehensive Transfer Policy for Railway Officers have been formulated and issued on 31.08.2015. The Policy lays down a general Policy framework for transfer and reiterates various existing rules and guidelines with regard to posting under Spouse rules, competence of General Managers to make rules in respect of Non-Gazetted staff under their control, transfer of RPF/RPSF personnel and special consideration for care of disabled children etc. It also prescribes minimum and maximum tenures on a job and at a place as also guidelines regarding timing of transfers and relieving of officers.

This information was given by the Minister of State for Railways Shri Manoj Sinha in a written reply to a question in Lok Sabha today.

PIB

WI – FI Service Facility to Railway Passengers - Ministry of Railways

WI – FI Service Facility to Railway Passengers - Ministry of Railways

Wi-Fi facility with free access to rail passengers for first 30 minutes in a day is proposed to be provided at all A1 (75), A (332) and B(302) i.e. total 709 railways stations. For period after 30 minutes the service will be available on payment.

Initially the Wi-Fi service is proposed to be provided at 400 nos. of A1 and A category stations. For B category stations Request For Proposal (RFP) issued and date of opening is 23.12.2015.

Initially Wi-Fi project shall be undertaken in phases to cover all A1 and A category stations.

Non-Suburban stations with an annual passenger earning of more than '60 crores are categorised as A1 stations. Non-Suburban stations with an annual passenger earnings of  '8 crores and upto' 60 crores are categorised as A stations.

RailTel Corporation of India Limited (a Public Sector Undertaking of Ministry of Railways) has entered into a collaboration with M/s. Mahataa Information India Private Limited (an Indian Subsidiary of Google Inc.) for the present, no direct investment has been made so far. The proposed investment will come in the form of providing technology, design and equipments required for providing Wi-Fi service.

Work of providing of Wi-Fi service within the scope of the collaboration is in progress at 100 category A1 and A stations, after which work at balance 300 category A1 and A stations shall be taken up. For B category stations Request For Proposal (RFP) issued and date of opening is 23.12.2015

This information was given by the Minister of State for Railways Shri Manoj Sinha in a written reply to a question in Lok Sabha today.

PIB

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