Authorisation of pension/family pension and gratuity on retirement on superannuation of a Government servant and death while in service: Timelines for completion of various activities in the processing

 Authorisation of pension/family pension and gratuity on retirement on superannuation of a Government servant and death while in service: Timelines for completion of various activities in the processing

No. TA-3-6/3/2020-TA-III /CS-4308/127
Ministry of Finance
Department of Expenditure
Office of Controller General of Accounts
Mahalekha Niyantrak Bhawan
E-Block, GPO Complex, INA, New Delhi ;

Dated 24-3-2023

OFFICE MEMORANDUM

Subject: Timelines for completion of various activities in the process of authorisation of pension/family pension and gratuity on retirement on superannuation of a Government servant and death while in service.

Reference is invited to timeline prescribed for processing and payment of pension/family pension, gratuity and other retirement benefits prescribed under CCS (Pension) Rules and issued by DoP&PW and O/o CGA. It has been noticed that payment of retirement benefits is getting delayed in many cases and  errors are also being reported in issuance of PPO.

2. In this regard, it is observed that PAO may receive number of pension/family pension cases where the pension forms are not properly filled and complete, particulars not furnished or authentication of HOO/DDO not given in the space provided, etc. These kinds of cases might have been returned to the concerned office for rectification / omissions which may result to delay in payment of pension/family pension. In this connection, it is advised that common errors noticed by PAO may be compiled and issued as internal guidelines. Accordingly, concerned HOO/DDOs may be advised to ensure due care while submitting pension/family pension cases to PAO so that pensioners/family pensioners get their dues well in time. PAOs may also be advised to fill all the columns of the PPO with due care.

3 It is further advised that, in case, delay is anticipated in payment of pension/family pension, gratuity to the beneficiary concerned, then sanctioning authority may sanction provisional pension/ family pension/gratuity to them, as per CCS (Pension) Rules,2021 so as to avoid hardship to the pensioner/family pensioner. In this matter, the provision enunciated under the Rule 65 of CCS (Pension) Rules, 2021 may be taken into account.

4. In view of above, all the Pr. CCAs/CCAs/CAs (/Cs) of the respective Ministries/Departments are requested to ensure that pension/family pension cases are processed within the prescribed timelines.

Sd//-
(Parul Gupta)
Dy. Controller General of Accounts

To

1. All Pr. CCAs/CCAs/CAs (IC) of the Ministries/ Deptts. concerned.
2. Joint CGA, GIFMIS, O/o CGA, Maha Lekha Niyantrak Bhawan, E-Block, GPO Complex, INA, New Delhi.
3. CC(Pension), Central Pension Accounting Office (CPAO), Trikoot-II, Bhikaji Kama Place, New Delhi-110066.

Copy to: 1. PPS to Additional CGA (A&FR)
2. PS to Joint CGA(AR,PR)

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Violation of CCS Conduct Rules 1964 - DOP OM dtd 24.03.2023

Violation of CCS Conduct Rules 1964 - DOP OM dtd 24.03.2023

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Last date for linking of PAN - Aadhaar extended upto 30.06.2023

 Last date for linking of PAN - Aadhaar extended upto 30.06.2023

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No question of reverting to OPS | State cannot do it, which is against PFRDA

 No question of reverting to OPS | State cannot do it, which is against PFRDA

Video Link : http://dlvr.it/SlYd75

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SB Order 03/2023 : Clarification on Premature Closure of NSC account pledged in favour of banks - Regarding.

SB Order 03/2023 : Clarification on Premature Closure of NSC account pledged in favour of banks - Regarding.

 

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Exits and withdrawal under the National Pension System – Amendment Regulations, 2023

 Exits and withdrawal under the National Pension System – Amendment Regulations, 2023

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 23rd March, 2023

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (EXITS AND WITHDRAWALS UNDER THE NATIONAL PENSION SYSTEM) (AMENDMENT) REGULATIONS, 2023

No. PFRDA/12/RGL/139/8.—In exercise of the powers conferred by sub-section (1) of Section 52 read with sub-clause(g), (h), and (i) of sub-section 2 of Section 52 of the Pension Fund Regulatory and Development Authority Act, 2013 (Act No.23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015 namely, –

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2023.
2. These shall come into force on the date of their publication in the official gazette.
3. In the Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015: –

In clause (i) of sub-regulation (d) of Regulation 4, following new proviso shall be added:

“Provided that such clause shall not be applicable to the subscribers of a body corporate or other entity under the ownership and control, either of the Central Government or any State Government or a Government Company and their exit shall be governed by other sub-regulations of Regulation 4, as may be applicable;”

Dr. DEEPAK MOHANTY, Chairperson
[ADVT.-III/4/Exty./703/2022-23]

Footnote:

1. The Principal Regulations, The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) Regulations, 2015 were published in the Gazette of India on 11th May, 2015 vide notification No. PFRDA/12/ RGL/139/8.
2. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (First Amendment) Regulations, 2017 were published in the Gazette of India on 10th August, 2017 vide notification No. PFRDA/12/RGL/139/8
3. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Second Amendment) Regulations, 2017 were published in the Gazette of India on 06th October, 2017 vide notification No. PFRDA/12/RGL/139/8
4. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Third Amendment) Regulations, 2018 were published in the Gazette of India on 02nd February, 2018 vide notification No. PFRDA/12/RGL/139/8.
5. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Fourth Amendment) Regulations, 2018 were published in the Gazette of India on 18th May, 2018 vide notification No. PFRDA/12/RGL/139/8.
6. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Fifth Amendment) Regulations, 2019 were published in the Gazette of India on 19th February, 2019 vide notification No. PFRDA/12/RGL/139/8.
7. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Sixth Amendment) Regulations, 2019 were published in the Gazette of India on 20th September, 2019 vide notification No. PFRDA/12/RGL/139/8.
8. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2020 were published in the Gazette of India on 29th September, 2020 vide notification No. PFRDA/12/RGL/139/8.
9. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Amendment) Regulations, 2021 were published in the Gazette of India on 14th June, 2021 vide notification No. PFRDA/12/RGL/139/8.
10. The Pension Fund Regulatory and Development Authority (Exits and Withdrawals under the National Pension System) (Second Amendment) Regulations, 2021 were published in the Gazette of India on 28th December, 2021 vide notification No. PFRDA/12/RGL/139/8.

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Any proposal to raise the Children Education Allowance from 27000 to 60000 for Central Government employees?

 Any proposal to raise the Children Education Allowance from 27000 to 60000 for Central Government employees?

 Is the Government planning to enhance the children education allowance from Rs. 27,000 to Rs. 60,000 per year per child for Central Government Employees to facilitate improved quality education?

As per the 7th Central Pay Commission’s suggestions, the children education allowance will increase by 25% each time the Dearness Allowance on the revised pay structure rises by 50%.

On 22nd March 2023, Dr Jitendra Singh, the Minister of State for MoPPG, provided an update in Parliament about the enhanced rate of Children Education Allowance for Central Government employees as per the recommendations of the 7th Pay Commission.

GOVERNMENT OF INDIA

MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS

(DEPARTMENT OF PERSONNEL & TRAINING)

LOK SABHA

STARRED QUESTION NO. 311

(TO BE ANSWERED ON 22.03.2023)

CHILDREN EDUCATION ALLOWANCE

311. SHRI SUBRAT PATHAK:

 

Will the PRIME MINISTER be pleased to state:

(a) whether the Government proposes to increase the children education allowance from Rs. 27,000 to Rs. 60,000 per year per child to ensure better quality education to the Central

Government Employees;

(b) if so, the details thereof; and

(c) if not, the reasons therefor?

ANSWER

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)

(a) to (c): In terms of the recommendations of the 7th Central Pay Commission related to grant of children education allowance, the rate of children education allowance would be automatically raised by 25% every time the Dearness Allowance on the revised pay structure goes up by 50%.

Source: Lok Sabha Q&A

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How many times can you switch between new tax regime and old tax regime?

 How many times can you switch between new tax regime and old tax regime?

Budget 2023 has made the new income tax regime as the default option for income taxpayers. Hence, unless an individual specifies that he/she is opting for the old income tax regime, then revised new income tax regime will be applicable 

Now the question that many taxpayers will ask is: will the benefit of switching between old and new income tax regime continue? 

Yes, an individual can switch between the new tax regime and the old tax regime in every financial year. However, the facility to switch between the new and old tax regimes is available only for those individuals having salaried income and does not have business income. 

They may opt for old tax regime filing the tax return within due date. Salaried taxpayers will continue to have option to switch every year. However, those with business or profession income, after opting for regular tax regime will have an option to move out only once.” 

This would mean that if you want to opt for the old tax regime while filing income tax return (ITR), then ensure that ITR is filed on or before the due date. If the belated ITR is filed, then new tax regime would be used to calculate the income tax dues.

What happens if a salaried individual does not specify the tax regime to employer?

Starting April 1, 2023, if a salaried individual does not specify the income tax regime preferred by him/her, then, their employer will deduct taxes on salary income based on the new tax regime by default. Note that once a regime has been chosen, it cannot be modified within the fiscal year.

Can you opt for different income tax regime while filing ITR vis-à-vis employer?

The income tax laws allow an individual to choose any income tax regime irrespective of what was communicated to the employer. Hence, if you opt for new tax regime with employer, then also you have an option to for old tax regime while filing ITR. Ensure that ITR is filed on or before the July 31 due date.

Who cannot switch between the two regimes every year?

According to income tax laws, individual taxpayers with business income are not allowed to select between the old tax regime and the new tax regime each year. Individual taxpayers and HUFs with business income can opt for the new income tax regime. However, once they have opted in, they will only have a one-time chance to return to the old tax structure. They will be unable to choose the new income tax regime in future fi ..

What are the income tax slab and tax rates under the revised new tax regime?

Effective from April 1, 2023 the income tax slabs under the new income tax regime will now be as follows:

Income tax slabs (In Rs)	Income tax rate (%)
From 0 to 3,00,000	0%
From 3,00,001 to 6,00,000	5%
From 6,00,001 to 9,00,000	10%
From 9,00,001 to 12,00,000	15%
From 12,00,001 to 15,00,000	20%
Above 15,00,001	30%

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Providing banking facility within five kilometres of all villages in the country-creation of new posts - reg.

 Providing banking facility within five kilometres of all villages in the country-creation of new posts - reg.

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Dearness Allowance and Dearness Relief from 01.01.2023: Cabinet approves 4% hike

 Dearness Allowance and Dearness Relief from 01.01.2023: Cabinet approves 4% hike

 Dearness Allowance and Dearness Relief from 01.01.2023: Cabinet approves 4% hike

Ministry of Finance

Cabinet approves release of an additional instalment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners, due from 01.01.2023

Posted On: 24 MAR 2023 9:13PM by PIB Delhi

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today has given its approval to release an additional instalment of Dearness Allowance to Central Governments employees and Dearness Relief to Pensioners with effect from 01.01.2023.  The additional instalment will represent an increase of 4% over the existing rate of 38% of the Basic Pay/Pension, to compensate against price rise.

The combine impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.12,815.60 crore per annum.

This will benefit about 47.58 lakh Central Governments employees and 69.76 lakh pensioners.

This increase is in accordance with the accepted formular which is based on the recommendations of the 7^th Central Pay Commission.

*****

DS
(Release ID: 1910515)

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The Fight Will Continue Till The Restoration Of The Old Pension Scheme - Com Shiv Gopal Mishra

The Fight Will Continue Till The Restoration Of The Old Pension Scheme - Com Shiv Gopal Mishra

Union Finance Minister Smt. Nirmala Sitharaman issued a statement today that a committee will be constituted under the chairmanship of the Finance Secretary on the new pension scheme and the committee will give its suggestions, while expressing its reaction, the General Secretary of All India Railwaymen's Federation, Shri Shiv Gopal Mishra Said that this statement is an act of misguiding the Central and State employees as it is completely of no use to all the Government employees who are in Government service since 01.01.2004, despite the considerable improvement in the New Pension Scheme and the New Pension Scheme in them There is a lot of resentment against the pensioners and they are very worried about their future after their retirement because their life after retirement is in darkness due to non-availability of 'Defined Old Pension Scheme'.

Shri Mishra said that under the leadership of NJCA, the Joint Front for Restoration of Old Pension Scheme (JFROPS) has been formed, under the leadership of all government autonomous institutions, teachers, and organizations of the Central and State Governments, our old pension scheme will be restored. The demand for restoration will continue until the 'old pension scheme' of government employees is not restored by the government.

 *Com Shiva Gopal Mishra* 

 *General Secretary* 

 *New Delhi - 24 March 2023* 

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Reintroduction of Old Pension Scheme – Growing demand

 Reintroduction of Old Pension Scheme – Growing demand 

 

GOVERNMENT OF INDIA
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS
(DEPARTMENT OF PENSION & PENSIONERS’ WELFARE)
RAJYA SABHA
STARRED QUESTION NO. 177
(TO BE ANSWERED ON 16.03.2023)

REINTRODUCTION OF OLD PENSION SCHEME

177 SHRI ANIL DESAI:
Will the PRIME MINISTER be pleased to state:

(a) whether it is a fact that there is a growing demand for reintroduction of pension schemes for the general employees;

(b) the response of the Central Government as more number of State Governments are going for the pension schemes for their employees; and

(c) the assessment of Government on closure of pension w.e.f. 2004 for its employees?

ANSWER

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)

(a) to (c): Representations have been received from time to time offering inputs on different aspects of National Pension System.

National Pension System (NPS) was introduced for Central Government employees by a Notification of Ministry of Finance (Department of Economic Affairs) dated 22/12/2003. NPS is mandatory for all new recruits to the Central Government service from 01/01/2004 (except the armed forces). Most of the State Governments adopted NPS for their employees.

Consequent to introduction of NPS w.e.f. 01.01.2004, the Central Civil Services (Pension) Rules, 1972 were amended and the benefits of old pension scheme under these rules are not applicable to Central Government employees appointed after 31.12.2003.

Government of India, after the assessment has taken many steps for streamlining of NPS for Central Government employees and to protect the interest of the subscribers. These include enhancement of Government’s contribution from the earlier 10% of Pay plus DA to 14% of Pay plus DA, freedom of choice of selection of Pension Funds and pattern of investment to subscribers, payment of compensation for non-deposit or delayed deposit of NPS contributions for any period during 2004-2012, tax exemption under Section 80C of the Income Tax Act, 1961 and increase in tax exemption limit for lump sum withdrawal on exit from earlier 40% to 60% of the amount due, making the entire withdrawal exempt from income tax.

*****

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Instruction regarding Execution of EOY for 2022-23 in CBS Offices

 Instruction regarding Execution of EOY for 2022-23 in CBS Offices

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Abolishing Creamy Layer in providing reservation for OBCs in both education and employment

 Abolishing Creamy Layer in providing reservation for OBCs in both education and employment 

GOVERNMENT OF INDIA
MINISTRY OF SOCIAL JUSTICE & EMPOWERMENT
RAJYA SABHA
UNSTARRED QUESTION NO -1736
ANSWERED ON – 15/03/2023

1736. DR. KANIMOZHI NVN SOMU
Will the Minister of SOCIAL JUSTICE AND EMPOWERMENT be pleased to state:-

(a) whether Government has plans to abolish creamy layer in providing reservation for OBCs in both education and employment in Government and Public Sector Undertakings (PSUs);

(b) if so, the details thereof and the effective steps taken by Government to ensure social justice for the people belonging to OBCs and BCs in the country;

(c) the details of the total vacancies available under OBC/ BC category in Central Government, PSUs and allied bodies under Government; and

(d) the steps taken by Government to uphold social justice in educational and employment opportunities?

ANSWER

THE MINISTER OF STATE FOR SOCIAL JUSTICE AND EMPOWERMENT (SHRI A. NARAYANASWAMY)

(a) No Sir.

(b) & (d) The schemes being implemented by the Government to ensure Social Justice for the OBCs are:

(i) In matter of direct recruitment to Central Government jobs and in admission to Central Government educational institutions. 27% reservation is available to the OBCs.

(ii) Pre-Matric Scholarship for OBCs – for students of classes I to X.

(iii) Post-Matric Scholarship for OBC students – for students of classes XI and XII.

(iv) Dr. Ambedkar Scheme of Interest Subsidy on Educational Loan for Overseas Studies for OBCs/EBCs.

(v) National Fellowship for OBCs.

(vi) Construction of Hostels for OBC Boys and Girls.

(vii) Assistance for Skill Development of OBCs/DNTs/EBCs.

(viii) Launch of Venture Capital Fund for OBCs.

(ix) Low Interest Loan/Finance Assistance Schemes of National Backward Classes Finance & Development Corporation (NBCFDC) for OBCs.

(c) As per information provided by the Department of Personnel & Training, 95563 backlog reserved vacancies for OBCs in Central Government, Public Sector Banks/financial Institutions, Central Public Sector Undertakings etc. have been filled up from 2016 to 2021.

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India Post Payments Bank (IPPB) – Details of the Salient Features, District Covered, Numbers of person onboarded as customers etc. as on 28.02.2023

 India Post Payments Bank (IPPB) – Details of the Salient Features, District Covered, Numbers of person onboarded as customers etc. as on 28.02.2023

GOVERNMENT OF INDIA
MINISTRY OF COMMUNICATIONS
DEPARTMENT OF POSTS

LOK SABHA
UNSTARRED QUESTION NO. 2419
TO BE ANSWERED ON 15TH MARCH, 2023

2419. SHRI RAJESHBHAI CHUDASAMA:
Will the Minister of COMMUNICATIONS be pleased to state:

(a) the details of the salient features of India Post Payments Bank (IPPB);

(b) the number of districts included under the said scheme during each of the last five years, State/ UT- wise;

(c) the number of persons covered under IPPB during the above period, district-wise;

(d) the details of the facilities provided by the Government to the IPPB account holders at present; and

(e) the steps taken/being taken by the Government to further facilitate the services for the account holders in future?

ANSWER

MINISTER OF STATE FOR COMMUNICATIONS (SHRI DEVUSINH CHAUHAN)

(a) India Post Payments Bank (IPPB) is a scheduled payment bank 100% owned by Department of Posts offering a range of products such as savings and current accounts, remittances and money transfer, direct benefit transfer, bill and utility payments, enterprise & merchant payments and Aadhar Enabled Payment System (AePS) services. These products and related services are being offered across multiple channels e.g. Counter Services, Micro – ATM, Mobile Banking and at the doorstep.

(b) India Post Payments Bank (IPPB) was established in the year 2018 covering 631 districts in the country with 650 branches in one go. IPPB through its 650 branches provides services in all districts through 1.38 lakh Post Offices/ access points. State/UT Wise number of districts having 650 IPPB branches is at Annexure-I.

(c) The number of persons onboarded as customer of IPPB since its establishment in the year 2018 and as on 28.02.2023 district wise are at Annexure-II.

(d) The details of services provided by IPPB to subscribers are placed at Annexure III.

(e) Government has approved the revision of project outlay for setting up of India Post Payments Bank (IPPB) by ₹820 crore taking the total to ₹2255 crore against the earlier approved outlay of ₹1435 crore to enable the Bank to meet regulatory requirements. In addition, In-principle approval has also been given for disbursement of ₹500 crore to IPPB at an appropriate time for the purpose of meeting regulatory requirement and technology upgradations to further facilitate the services for the IPPB account holders in future.

 Annexure III.

IPPB provides a number of services to its customers which inter-alia includes:-

a) Paperless & Instant account opening

i. Savings accounts for citizens including Aadhaar Seeding for Direct Benefit Transfer (DBT) beneficiaries

ii. Current Accounts for merchants

b) Virtual Debit Card

c) Cash Deposit/ Cash Withdrawal services

d) Domestic Money Transfer services – Immediate Payment System (IMPS), National Electronic Fund Transfer (NEFT), Real Time Gross Settlement (RTGS), Unified Payments Interface (UPI)

e) Bill Payment services – Bill payment of utility bills, Direct to Home (DTH)/Mobile recharges, Equated Monthly Instalment (EMI) payments, insurance etc.

f) Insurance services for IPPB customers – Life, Health, Vehicle insurance & Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

g) Post Office Savings Account (POSA) linkage with IPPB accounts

h) Online Payment for Post Office Savings schemes – Public Provident Fund (PPF), Sukanya Samriddhi Yojana (SSY), Recurring Deposit (RD) and Postal Life Insurance (PLI)

i) Unified Payments Interface Quick Response (UPI QR) deployed at all Rural Post offices to accept digital payments

j) Digital Life Certificate (DLC) services – Facilitate submission of DLC for any pensioners of central/state/ Employees Provident Fund Organisation (EPFO)

k) Aadhaar based services – Mobile Number update in Aadhaar for any citizen and Child Enrolment services for any child (0 – 5-year-old)

l) Cash Management services – Collection of dues from customers of corporate/ Govt. bodies.

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Pension Fixation Procedure under General Financial Rules (GFR): Rajya Sabha QA

 Pension Fixation Procedure under General Financial Rules (GFR): Rajya Sabha QA

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
RAJYA SABHA
UN-STARRED QUESTION NO. 2307
TO BE ANSWERED ON TUESDAY, 21% MARCH, 2023

2307. Dr. RADHA MOHAN DAS AGRAWAL:

Will the Minister of FINANCE be pleased to state:

a) whether the General Financial Rules (GFR) of the Central Government apply only to the Central Government or apply to all the States, in a uniform manner;

b) whether the pension should be basically determined by the collective decision of the Cabinet under the Financial Rules or it could be done through an administrative order without the decision of the Cabinet; and

c) whether the fixation of pension at State level through an administrative order remains legally tenable, the details thereof?

ANSWER

THE MINISTER OF STATE IN MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)

(a) GFRs shall be applicable only to all Central Government Ministries/Departments, attached and subordinate bodies. The provisions contained in GFRs are deemed to be applicable to central Autonomous Bodies except to the extent the bye-laws of an Autonomous Body provides for separate Financial Rules which have been approved by the Government.

(b) & (c): The matter pertaining to pension in respect of Central Government are regulated by relevant service rules. Any changes therein are processed in terms of procedure prescribed in the Transaction of Business rules 1961 read with Allocation of Business rules 1961. The service conditions of the State Government employees do not come under the purview of Central Government.

*****

Source: Rajya Sabha

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Fin Min Approval for creation of new posts in DOP for providing bank facility

 Fin Min Approval for creation of new posts in DOP for providing bank facility

Creation of new posts in the Department for providing banking facilities within 5 kilometers in all villages in the country

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Update Your Mobile Number in your Post Office Account

Update Your Mobile Number in your Post Office Account

All post office account holders are advised to update your mobile number in your Post Office Account immediately to ensure the security of your account. It is mandatory to update the mobile number by 01 April 2023. Click here for the details of the nearest Post Office: bit.ly/3TvlqVX

 

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Last date to file Updated ITR for AY 2020-21 is 31.03.23

Last date to file Updated ITR for AY 2020-21 is 31.03.23 

Kind Attention Taxpayers!

Last date to file Updated ITR for AY 2020-21 is 31.03.23. Don’t miss this last chance!

Updated ITRs for AY 2021-22 & 2022-23 can also be filed by 31.03.23 to avoid paying higher tax later.

Pl refer to S. 139(8A) of IT Act, 1961.

Don’t delay, file today

1. Persons eligible for filing Updated Return u/s 139(8A)

All persons (Individual, HUF, Firms/LLP, Companies, AOP, BOI etc) are eligible to file Updated returns u/s 139(8A). But the taxpayers needs to meet the following criteria to file the updated returns

1. The Updated return can be filed only if the taxpayer has not filed the return of income earlier or there are errors/omissions in original filed return.
2. The Updated return can be filed only if the taxpayer has to disclose any additional income which was missed earlier and should pay additional taxes.

2. Persons not eligible to file Updated Return u/s 139(8A)

All persons (Individual, HUF, Firms/LLP, Companies, AOP, BOI etc) are eligible to file Updated returns u/s 139(8A). But the updated return cannot be filed in below cases.

1. If it is Return of Loss.
2. If it has the effect of decreasing the tax liability or increasing the refund.
3. A search has been initiated u/s 132 or books of accounts or other documents or any assets are requisitioned u/s 132(A).
4. A Survey has been conducted u/s 133A other than Section 133A(2A).
5. If any Assessment is pending or completed.
6. If Assessing Officer has information about the assessee under specified acts .
7. If any information has been received u/s 90 or 90A and same has been communicated to him before the date of furnishing updated return.
8. If any Prosecution proceedings have been initiated before the date of furnishing updated return.
9. If the taxpayer belongs to such class of persons as notified by board.

IMPORTANT NOTE

As a result of furnishing of an ‘updated’ return for any financial year, if the following is reduced for any subsequent year, then the person shall be required to file an ‘updated’ return for each subsequent year that was filed.

• Loss or any part thereof carried forward under Chapter VI; or
• Unabsorbed depreciation carried forward under Section 32(2); or
• Tax credit carried forward under Section 115JAA; or
• Tax credit carried forward under Section 115JD

3. Time Limit to file Updated Returns

The time limit for filing updated returns is 2 years from the end of such relevant assessment year

• For AY 2020-21 (FY 2019-20): The due date for filing updated return is 31st Mar 2023.
• For AY 2021-22 (FY 2020-21): The due date for filing updated return is 31st Mar 2024.
• For AY 2022-23 (FY 2021-22): The due date for filing updated return is 31st Mar 2025.

4. Penalty / Additional Tax Payable

Updated return can be filed only with the penalty. The penalty for filing Updated return is as follows

1. Filed within 12 months from the end of relevant assessment year: Penalty is 25% of aggregate of tax and interest payable on filing of updated return
2. Filed after 12 months from the end of relevant assessment year: Penalty is 50% of aggregate of tax and interest payable on filing on updated return

Note: Section 140B provides for payment and computation of tax, interest, fee and additional income tax on updated return

5. ITR Form for filing Updated return and details required

“ITR-U” has been notified by the Income Tax Department for filing updated return u/s 139(8A). The following are the details required to be furnished in ITR-U. The following are the information required to be given in ITR-U apart from the general information

Frequently Asked Questions

1. Can we file the Updated return without filing original or belated returns?

Yes, Updated return can be filed even if the original or belated returns is not filed.

2. How many times can I file Updated return?

Updated return can be filed only once and it is not possible to revise updated return.

3. From which date, Section 139(8A) is effective?

139(8A) is effective from 01st Apr 2022 and the tax payers can utilize the same from 01st Apr 2022 for FY 2019-20, FY 2020-21 and FY 2021-22.

4. Do I need to pay penalty u/s 234F for filing updated return?

If you are filing the updated return for first time (not filed earlier), then you are required to pay penalty u/s 234F. If you have filed return earlier, then penalty u/s 234F will not be levied.

5. Will the return filed u/s 139(8A) will be considered as defective?

ITR filed u/s 139(8A) will be considered as defective if the return does not include tax payment details. 

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Old Pension Scheme is not applicable to Central Government employees appointed after 31.12.2003 : Rajya Sabha Q&A

 Old Pension Scheme is not applicable to Central Government employees appointed after 31.12.2003 : Rajya Sabha Q&A

GOVERNMENT OF INDIA

MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS

(DEPARTMENT OF PENSION & PENSIONERS’ WELFARE)

RAJYA SABHA

STARRED QUESTION NO. 177

(TO BE ANSWERED ON 16.03.2023)

REINTRODUCTION OF OLD PENSION SCHEME

177 SHRI ANIL DESAI:

Will the PRIME MINISTER be pleased to state:

(a) whether it is a fact that there is a growing demand for reintroduction of pension schemes for the general employees;

(b) the response of the Central Government as more number of State Governments are going for the pension schemes for their employees; and

(c) the assessment of Government on closure of pension w.e.f. 2004 for its employees?

ANSWER

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)

(a) to (c): A Statement is laid on the Table of the House.

STATEMENT REFFERED TO IN REPLY OF RAJYA SABHA STARRED QUESTION NO. 177 (12TH POSITION) FOR ANSWER ON 16.03.2023 BY SHRI ANIL DESAI ON REPRESENTATION OF REINTRODUCTION OF OLD PENSION SCHEME

(a) to (c): Representations have been received from time to time offering inputs on different aspects of National Pension System.

National Pension System (NPS) was introduced for Central Government employees by a Notification of Ministry of Finance (Department of Economic Affairs) dated 22/12/2003. NPS is mandatory for all new recruits to the Central Government service from 01/01/2004 (except the armed forces). Most of the State Governments adopted NPS for their employees.

Consequent to introduction of NPS w.e.f. 01.01.2004, the Central Civil Services (Pension) Rules, 1972 were amended and the benefits of old pension scheme under these rules are not applicable to Central Government employees appointed after 31.12.2003.

Government of India, after the assessment has taken many steps for streamlining of NPS for Central Government employees and to protect the interest of the subscribers. These include enhancement of Government’s contribution from the earlier 10% of Pay plus DA to 14% of Pay plus DA, freedom of choice of selection of Pension Funds and pattern of investment to subscribers, payment of compensation for non-deposit or delayed deposit of NPS contributions for any period during 2004-2012, tax exemption under Section 80C of the Income Tax Act, 1961 and increase in tax exemption limit for lump sum withdrawal on exit from earlier 40% to 60% of the amount due, making the entire withdrawal exempt from income tax.

 

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