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CBDT Launches aaykar setu, a Mobile App to Pay Taxes and Apply PAN Card

aaykar setu image

Aayakar Setu App: Income tax department has released a new app named Aayakar Setu for paying taxes . Now you can just sit in home and pay taxes for the government. This new tax app  allows entities track Tax Deducted at Source (TDS), apply for Permanent Account Number (PAN) and pay taxes.

This app is launched by the finance minister, Arun Jaitley will be available on Android phones. Your 12 digit biometric Aadhaar can be helpful for linking Aadhaar with PAN card.

12-Digit Aadhar Card Brings Three Children and Parents Together

The minister said, “This is a great step taken by CBDT and the principle reason behind is technology as a powerful tool becomes an enabler. With this app, most of the work assesses can take place without any external help while just sitting at home.”

The app is in the series of actions taken by the Central Board of Direct Taxes to provide better taxpayer services and reduce grievances.

The new initiative step by IT department is to communicate with the taxpayers on a range multi-informative and tax services aimed at giving tax information at fingertips.
In the coming month, CBDT will also activate the option of filing tax returns using the mobile app.

This module compiles different tax tools, dynamic updates, live chat facility and important links with various processes within IT department in a single module. Regarding important tax dates, forms, and notifications, taxpayers will receive regular updates on their registered mobile number with the department.

Taxpayers who are interested to receive such SMS alerts are requested to register their mobile number in Aayakar Setu app.
Jaitley said, “Physical interface many leads to many consequences and a lot of time may consume. This app reduces the physical interface between assesses and assessing officer.”

The tax department already said a lot of interfaces are happening while paying taxes by taxpayers so this can reduce those issues

He said,” it also helps us in building the image of the department. For the reason that one of the not so acceptable claims given by those who don’t comply is we don’t comply because harassment that fact involves. Today this issue gets eliminated more reducing interfaces.”

“An external audit should be done to see how much of interface has reduced and which are the other areas can be done,” said Jaitley Anyone can download this app by giving missed calls to 7306525252

WhatsApp Digital Payments to be Rolled out in India

WhatsApp Digital Payments

WhatsApp is likely to launch peer-to-peer payments in India in the coming six months. The Facebook-owned messaging app is hiring an expertise head of digital transactions. This WhatsApp digital payments option in the app mainly deals with UPI (Unified Payments Interface), Aadhaar (India’s biometric identity system) and BHIM.

Recently, WhatsApp co-founder Brian Acton said that the company may debut into digital payments and that it is in ‘early stages’ of investigating the segment. WhatsApp emerged as the most popular messaging service in India with over 200 million users in the country. The app is already being used for communicating with customers by small and individual business owners.

Also Read Whatsapp planning to launch peer-to-peer payments in six months.

Also, it allows regional businesses like it provide news service in rural Uttar Pradesh with 8000 paid subscribers. India’s digital payments scene has exploded in the recent months, and digital transactions are growing each year. The demonization move took by the government back in November has made way for more digital transactions.

India has also built the UPI which led to built many payment apps on top of it. However, Apps built on UPI can seamlessly transact between accounts. BHIM app launched by Prime Minister Narendra Modi is one such app for instance. Finance Minister Arun Jaitley claimed that the BHIM app has been downloaded by 12.5 million people. And now, most private banks and wallet operators like Paytm and PhonePe also support UPI-based payments now.

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Aadhaar Mandatory for Filing ITR to Stop Evasion: Arun Jaitley

Aadhaar Mandatory for Filing ITR

Now the Aadhaar number is compulsory for filing the income tax returns to avoid evasion and frauds, said by Arun Jaitley.

In Lok Sabha meeting, BJD member questioned to finance Minister Arun Jaitley that whether the govt was forcing the people to have the Aadhaar number by making it mandatory.

He said, they have ruled out the imposing any tax on the agriculture income. Mr. Jaitley was replying to the financial bill 2017 which had later passed by the house along with 40 official amendments, in that reducing the cash transactions from 3 lakhs to 2 lakhs from April 1st is one of the amendments.

After bill had passed, the opposition party Congress has questioned about Aadhaar issue and upto now government didn’t have any commitment to remove the farm loan.

Also Read Academic Certificates Must be Inscribe with Aadhaar Number

In these amendments, they also mentioned a proposal of launching electoral bonds. The cap of reducing the transactions limit and introducing electoral bonds helps to stop the generation of black money.

To encourage the cashless transactions, they have reduced the limit. Through electoral funding transaction is clear. In this they also opposed that funding should be in the form of the digital cheque and cash donations is limited to Rs 2000.

BJD party has opposed to their proposal that linking Aadhaar card is mandatory to the PAN card for filing income tax returns and making PAN application. But the government said Aadhaar have biometric details, so they are less cases of misusing, and he also said ,to clean the society these system is mandatory.

Finance Minister Warns Employees of Action for Criticizing Government Policies

Finance Minister Warns Employees of Action

The Finance Minster Arun Jaitley has warned employees of disciplinary action if they indulge in criticism of the government or its policies.

Finance Minister takes this decision after officers of Indian Revenue Service and All India Association of Central Excise Gazetted Executive Officers are protesting against decisions taken by the GST council which is led by Arun Jaitley on Goods and Service Tax.

Members of Indian Revenue services (Customs and Central Excise), All India Central Excise Inspectors’ Association, All India Association of Central Excise Gazetted Executive Officers and All India Central Excise and Service Tax Ministerial Officers Association had participated in the protest to oppose some decisions taken by GST Council.

Final GST Rates Decided: Slabs Finalised Between 5% and 28%

Finance Minister said in a recent order,” Of late, it has been noticed that some associations or federations have commented adversely on the government and its policies. It may be brought to the notice of all associations or federations that if anyone indulges in criticism of the government and its policies, appropriate action (including disciplinary action) shall be taken.”

Any government servant criticise the govt policies or action of the government may lead to appropriate action.

The service rules says, “No government servant shall, in any radio broadcast, telecast through any electronic media or in any document published in his own name or anonymously, pseudonymously or in the name of any other person or in any communication to the press or in any public utterance, make any statement of fact or opinion which has the effect of an adverse criticism of any current or recent policy or action of the central government or state government.”

Union Budget 2017: What is SWAYAM?

Anup Srivastava, President of IRS (Customs and Central Excise), said their members are not adversely commenting on state’s policies by any way.

Union Budget 2017-18: Slab Balances More for Poor

Union Budget 2017-18

The Union Finance Minister Arun Jaitley presented the Budget 2017-18 on February 1, 2017. The new budget now excepts tax for the citizen with an annual income of less than Rs 3 lakh. Income class of up to Rs 5 lakh will be imposed an income tax at 5 per cent. A surcharge of 10 per cent will be levied on people with annual income between Rs 50 lakh to Rs 1 crore.

Arun Jaitley failed to live up to his promise of tax concessions. A concession in Income tax is observed in the minimum slab from 10 percent to 5 percent for salary holders between Rs 2.5 lakh to Rs 3 lakh. However, this fell short of expectations as it is expected that he would exempt tax up to Rs 4 lakhs. Macro-level announcements are on more positive note for the economy.

Union Budget 2017-2018 by Arun Jaitley: Key Points of the Budget

It is expected that Demonetisation will lead to a transient impact on the economy. Also, it is expected that it will have a strong impact on the economy and lives of people. The bold move will lead to higher GDP growth and the effects will not spill over to the next fiscal.

The budget assures security against natural calamities for sowing farmers. Rs. 10 lakh crore is allocated as credit for farmers along with interest waiver of 60 days. NABARD fund will be raised to Rs. 40,000 crore.  The latest budget also assured to set up mini labs in Krishi Vigyan Kendras for testing soil. The government also targets to get 1 crore households out of poverty by 2019. Five lakh farm ponds will be taken under the MGNREGA during 2017-18.

Union Budget 2017: What is SWAYAM?

On youth sector, the budget focuses on 3,479 educationally backward blocks mainly. Will also introduce a system to measure annual learning outcomes and come out with an innovation fund for secondary education.  Under a nationwide scheme for pregnant women, a sum of Rs. 6000 will be transferred to each person. Rs. 500 crore allocated for Mahila Shakthi Kendras. In total, Rs.1,84,632  will be allocated for women and children.

Income Slab Tax Rate
Income up to Rs 3,00,000 Nil
Income from Rs 3 lakh up to 5 lakhs 5%
Income from Rs 5 lakh up to Rs 10 lakh 20%
Income above Rs 10 lakh up to Rs 50 lakh 30%
Income above Rs 50 lakh up to Rs 1 crore 30% + 10% surcharge
Income above Rs 1 crore

30% + 15% surcharge