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.
Cadre Restructuring proposal of the Central Board of Excise and Customs (CBEC) to be taken up in the Cabinet soon : FM
Finance Minister P.
Chidambaram announced on Wednesday the setting up of a mechanism to discuss
tax-related, sector-specific concerns raised by industry groups and other
associations to improve the dialogue between government and companies.
The finance minister also said that
the government is taking steps to address manpower issues with a proposal for
cadre restructuring of the Central Board of Excise and Customs (CBEC) to be
taken up in the Cabinet soon. The government has to fill almost 700 vacancies
above the assistant commissioner level in CBEC.
“There is a merit for
having an institutional, structured mechanism to hear concerns of industry
groups. At present, we get to hear about their concerns only once a year during
the pre-budget discussions,” Chidambaram said at a press briefing after meeting
the chief commissioners and directors general of customs, central excise and
service tax.
Expressing confidence
that the government will meet the revenue collection targets for the current
fiscal, Chidambaram warned that “non-filers”, those
who do not pay taxes, and “stop filers”, those who used to pay taxes but have
stopped, will be targeted.
“In service
tax, the number of non-filers and stop filers is exceeding Rs.12 lakh. We are
going to target them,” he said.
Of the indirect tax
target of Rs.5.63 trillion for 2013-14, more than Rs.1.80 trillion has to come
from service tax collections.
Given the lukewarm
response to the service tax voluntary compliance encouragement scheme in this
year’s budget, the finance minister said the tax department would run an
awareness campaign to encourage assessees to take advantage of it.
Under the scheme, any
service provider who has not paid service tax dues can do so without having to
pay interest and penalty. The government will shortly issue a list of
frequently asked questions to provide clarity about the scheme, he said.
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