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Recently, the Union cabinet approved the Motor Vehicles (Amendment) Bill that has proposed some heavy penalties for traffic rules violations. The amendment now comes with some strict measures to deal with traffic violations in order to bring down the increasing number of road accidents and to cultivate responsible practices in how the roads are used by the Indian citizens. Here are some important implications of the motor vehicles amendment act 2019 you will have to know. Motor vehicles amendment Act 2019 The Motor Vehicles (Amendment) Bill 2019 has brought in some amendments to the provisions found under the <keyword id="674989" type="PERSON" weightage="20" keywordseo="Motor-Vehicles-Act-1988">Motor Vehicles Act, 1988</keyword>. Earlier the same bill had been passed in the Lok Sabha in the April of 2017. Since it could not get the clearance of the <keyword id="48510" type="COMPANY" weightage="20" keywordseo="Rajya-Sabha">Rajya Sabha</keyword>, it lapsed eventually with the dissolution of the 16th Lok Sabha. <keyword id="26680" type="PERSON" weightage="20" keywordseo="Nitin-gadkari">Nitin Gadkari</keyword>, the Union Minister for Road Transport and Highways tabled the bill in the Lok Sabha and the same was now passed this time successfully. How does a challan work before and after the Motor Vehicle Amendment Act 2019? A challan is an official text that the traffic controlling officer writes in a piece of paper and issues to the violator of traffic rules in India. If the challan is issued in an individual’s name, he or she is liable to pay the traffic fine as listed in the Motor Vehicles Act, 1988. The <keyword id="182080" type="PERSON" weightage="20" keywordseo="e-challan">e-challan</keyword> system introduced by the new amendment replaces the use of physical paper. Right from the breaking of traffic rules by the person and issuing of the challan through the payment of the corresponding traffic fine, there are several stages involved in the process and all of them have now been digitized by the amendment. The new e-challan system is a CCTV enabled one. The CCTV cameras installed in important locations on the Indian roads continuously record the footages of the ongoing traffic. When a motorist is seen violating the traffic, it will be recorded by the CCTV camera. The police will then trace the number of the vehicle from the footage recorded and register the offense in the records. The traffic police will find out the details of the vehicle and its owner from the Regional Transport Office (RTO). Once the details are received, the traffic police will send an SMS on the registered mobile number of the violator detailing the kind of violence, date, time and the details of fine or punishment according to the existing laws. The owners of the vehicle can pay the fine on the e-challan either online or offline. The traffic authority in India has created a dedicated website for paying the e-challan directly. The e-challan issued to the vehicle owner will have a unique serial number. This number has to be entered in the box provided on the site and the payment has to be made online. Alternatively, you can also pay the e-challan in offline mode by visiting the nearby police station. Third party insurance The government will launch a scheme for treating the road accident victims during the golden hour. Yet another scheme will also be launched to provide interim relief to the claimants who seek compensation under the third party insurance. The minimum compensation has been now increased from Rs. 25,000 to 2 lakh rupees in case of death and from Rs. 12,500 to Rs. 50,000 in case of grievous injury. The bill also needs that the government will institute a Motor Vehicle Accident Fund to provide compulsory cover to all the road users in India. The fund will be used to compensate the victims of hit and run accident.

Some important implications of Motor Vehicle Amendment Act 2019

New Delhi, Jul 4 () The income tax department has brought in changes to the challan for paying the equalisation levy by expanding its scope to include non-resident e-commerce players supplying goods or services online. Over two dozen non-resident tech companies would come under the purview of the equalisation levy which was introduced in Budget 2020-21 and has come into effect from April 1, 2020. Its first instalment is due on July 7. The 2 per cent tax would be levied on consideration received by such companies from e-commerce supply or services. The income tax department has modifies challan ITNS 285 (relating to payment of equalisation levy) to enable payment of the first installment by non-resident e-commerce operators. The amended challan now adds "e-commerce operator for e-commerce supply or services" under 'Type of Deductor'. The challan also seeks mandatory PAN of the deductor. Further, it provides for 'Outside India' option while seeking address details. Nangia Andersen LLP Partner Sandeep Jhunjhunwala said along with this modification in the payment challan, the Central Board of Direct Taxes (CBDT) has also cleared the clouds on requirement of PAN by making it a mandatory tab in the challan. "This has rather imposed a burdensome and challenging task for non-resident e-commerce players to apply for and obtain Permanent Account Number within one business day in the midst of curbs, lockdown and pandemic affected business life and also organize the mode of payment through an Indian bank account or debit card issued by an Indian bank," he said. Jhunjhunwala further said non-resident digital companies were waiting for a detailed FAQ to get clarity on abstruse issues surrounding the equalisation levy. "This rushed move could cause substantial challenges in discharging the nearing first payment liability of equalisation levy, in case interest and penalty for delayed payments are to be avoided," he added. Deloitte India Partner Rohinton Sidhwa said while there have been widespread demands for its deferral due to the pandemic, there are also several parts of the new provisions that require clarification. Under the new law, the first instalment is due on July 7 for the equalisation levy charged on supplies in the first quarter of the financial year ending June 30. "The modification of the challan is to facilitate this payment. Earlier this challan only allowed payment for the 6 per cent equalization levy applicable on advertising services that was imposed by Finance Act 2016. Detailed FAQ's and procedural rules are yet to be specified for the new levy," Sidhwa added. Shardul Amarchand Mangaldas &amp; Co Partner Amit Singhania said, "The changes in payment challan will now enable the payment of equalisation levy by foreign companies. However, the industry was expecting its deferral considering the lack of clarification on few issues." JD ABM ABM

I-T dept amends tax challan to include non-resident e-commerce suppliers for equalisation levy

<ul><li>The amendments to the Central Motor <keyword id="6083846" type="UNKNOWN" weightage="20" keywordseo="Vehicle-rules">Vehicle Rules</keyword>, 1989 aim to push the digitisation of paperwork and eradicate unnecessary bullying of the drivers.</li><li>The new rules also make provision for drivers to use their smartphones but only for the purpose of navigation.</li><li>Here’s everything you need to know about the recent amendments in the Central Motor Vehicle Rules 1989. </li></ul>The Ministry of Road Transport and Highways (MoRTH) has issued various amendments in the Central Motor Vehicle Rules 1989, which are already in effect from today (October 1). The amendments aim at pushing the digitisation of paperwork. “Ministry of Road Transport &amp; Highways (MoRTH) has recently issued notifications regarding various amendments in Central Motor Vehicle Rules 1989 requiring the implementation of enforcement, Maintenance of Vehicular Documents and E-Challans through portal w.e.f 1.10.2020 for better monitoring and enforcement of MV Rules,” MoRTH said in a statement earlier. <div type="twitter" handle="OfficeOfNG" handlename="Office Of Nitin Gadkari" image="http://pbs.twimg.com/profile_images/958402947909525505/tqE1bWoK_normal.jpg" favoritecount="834" retweetcount="150" status="After the passing of Motor Vehicles Amendment act 2019, rules were drafted. In this regard, to make roads safer, a… https://t.co/2sD8TFBzBI" createdat="1601355344000" id="1310805437827047425"></div> These are the five recent amendments in the Central Motor Vehicle Rules 1989 that you need to know about: <ul><li>No physical verification of documents such as a driving licence, registration certificate (RC), insurance, fitness, permit, and the driving licence certificate for Pollution Under Check (PUC) that are validated electronically can be demanded for physical inspection by the authorities. Only a valid soft copy of these documents attached to the vehicle will do. Along with this e-challans will also be made available on the central portal for the perusal of the traffic norms violators.</li><li>Motor vehicle owners can maintain their documents, including driving licence and RC on the government’s M-Parivahan app or Digi-locker. These apps are on Google Play Store and Apple App Store. </li><li>Seizure or disqualification of any documents of the driver in case of violations of traffic rules will be recorded and updated chronologically on the online portal. </li><li>The use of any handheld devices like mobile phones while driving shall solely be used for route navigation purposes only and in such cases it shall not disturb the concentration of the driver. </li><li>The record of the rule violators will be maintained on a government portal. Time-stamp of the inspection and identity of the officer on duty will be recorded on the platform as well. This aims at eradicating unwarranted bullying of drivers and avoiding re-checking or inspection of vehicles.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-the-maruti-suzuki-mahindra-hero-motocorp-and-bajaj-company-september-sales-number-for-personal-and-commercial-vehicles/articleshow/78424896.cms" data-type="tilCustomLink">September auto sales show Indian auto manufacturers are almost back at pre-COVID levels — commercial vehicles continue to lag</a> <a href="https://www.businessinsider.in/business/auto/news/honda-hness-cb-350-unveiled-in-india-at-1-9-lakh/articleshow/78402417.cms" data-type="tilCustomLink">Honda’s new cruiser bike H’ness CB 350 launched in India — to be priced around ₹1.9 lakh</a>

New motor vehicle rules effective from October 1— Here’s everything you need to know

New Delhi, Dec 22 (IANS) Last minute filers of <keyword id="6355828" type="UNKNOWN" weightage="20" keywordseo="income-tax-returns">income tax returns</keyword> for <keyword id="44623" type="PERSON" weightage="20" keywordseo="Financial-Year">financial year</keyword> 2019-20 (assessment year 2020-21) need not worry about completing the <keyword id="50472" type="ORGANIZATION" weightage="20" keywordseo="process">process</keyword> in time to beat the deadline. <keyword id="2236838" type="COMPANY" weightage="20" keywordseo="The-Income-Tax-department">The Income Tax Department</keyword> has introduced the "Jhatpat Processing" feature that will allow processing of returns filed online on a real time basis with the taxpayer getting acknowledgement almost immediately. The feature will facilitate taxpayers, who have come almost close to the deadline of filing returns, and fear that even if returns are filed, their processing would make them miss the deadline and hence, liable for penalty. The tagline used by I-T Department for the scheme is "File karo jhat se, processing hogi pat se (file returns quickly and processing will done immediately)". Filing of I-T returns is mandatory for individuals drawing a certain amount of income. Though normally the deadline to file ITR is July 31 of the assessment year, due the disruptions cause by Covid-19 pandemic, the government has allowed taxpayers not requiring an audit to file their ITR by December 31, 2020 and those requiring audit to file ITR latest by January 31, 2021. With just days left for individuals to file their ITR, the new 'jhatpat processing' scheme is expected come handy to complete the process in time. The I-T Department said in its twitter handle that 'jhatpat processing' has started for ITR-1 and 4 and taxpayers can file their IT Return for AY 2020-21 by visiting the e-filing website -- incometaxindiaefiling.gov.in. ITR-1 or 'Sahaj' is for individuals with total income upto ₹50 lakh, drawing salary, having one house, getting interest on bank savings and have agricultural income upto ₹5,000. On the other hand ITR-4 is for individuals, HUFs and firms (other than LLP) having total income up to ₹50 lakh and having income from business and profession. The I-T Department has said that the new scheme will only be available to individuals whose ITR is verified, <keyword id="6375891" type="UNKNOWN" weightage="20" keywordseo="bank-account">bank account</keyword> is pre-validated, and there are no arrears, income discrepancy, TDS or challan mismatch. What the new scheme provides is that e-verification of returns can be done by taxpayers using one of the selected modes that includes registered mobile number, net banking, demat account number, bank ATM, bank account number, Aadhaar OTP and e-mail ID. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-wipro-jubilant-foodworks-bajaj-auto-majesco-and-others/articleshow/79909712.cms">Top stocks to watch – Infosys, Wipro, Jubilant FoodWorks, Bajaj Auto, Majesco, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

Income tax returns with instant acknowledgment will help avoid penalty due to delay in processing

New Delhi, Dec 9 () The government on Monday said it has started a pilot project for using FASTag for parking purpose at Hyderabad airport. 
 The pilot project has been launched in two phases, the first being a controlled pilot testing, wherein only ICICI tags would be used, the Ministry of Road Transport &amp; Highways said in a statement.
 The second phase of pilot project for using FASTags for parking purposes at Hyderabad airport shall cover all other issuer bank tags. This has been done to ensure the benefits of FASTag beyond tolling. Conceptualised as FASTag 2.0, it covers parking payments, fuel payments, etc, the statement said.
 "After Hyderabad, the project will be launched at the Delhi airport. Other banks like SBI, Axis, HDFC and IDFC are also in talks with airports in Mumbai, Bengaluru and few of the malls to launch FASTag 2.0," it said.
 The National Electronic Toll Collection programme, the flagship initiative of Ministry of Road Transport and Highways, has been implemented on pan India basis across national highway toll plazas.
 It has given a major fillip to the Digital India initiative by converting cash toll payments to electronic and brought in an enhanced transparency in entire tolling ecosystem, the ministry said.
 "The journey of FASTag 2.0 has many exciting use cases like fuel payments, enforcement (e-challan) payments, access management at offices and residence," it said. 
 "GST council has also mandated FASTag for all commercial vehicles which would be generating an e-way bill from April 1, 2020. This integration will be a big boost to GSTN as it would help in identifying the leakages with respect to non-issuance/ misreporting of E-way bill," it added. ABI 
RVK

Govt starts pilot project for using FASTag at Hyderabad airport for parking

New Delhi, Mar 20 () The Employees' Provident Fund Organization (EPFO) on Friday asked pensioners and employers to avoid visiting its offices and avail online services like raising claims for PF, view balance, and make payments etc from their homes. The step has been taken to curb the spread of deadly coronavirus, the EPFO said in a statement. To contain the spread of coronavirus, the EPFO advises members, pensioners and employers to avoid visiting EPFO offices and avail various online services offered by it from their homes, it said. Most of the services of the EPFO are available online, it mentioned. An employee can generate his/her own Universal Account Number (UAN), activate his/her UAN and seed it with Aadhaar, PAN, Bank Account and mobile number (KYC seeding), the EPFO said. "Employee can also make nominations, view balance in the passbook, update his/her date of exit, transfer his/her account from unexempted to exempted establishment and vice-versa. "Employees have been further empowered to raise claims online for the provident fund (PF) advances or final withdrawal, pension or insurance benefits and receive payment of PF/pension/insurance benefits directly in his/her bank account," the statement said. Similarly, a pensioner can download his/her pension payment order (PPO) or preserve it in Digilocker. He/she can know his PPO number with the help of his/her bank account number or UAN and view passbook. Pensioners can also update Jeevan Praman (Digital Life Certificate) online any time of the year. "Employers can register their establishments under EPF&amp;MP Act, 1952 and obtain establishment ID, make payment of EPF and allied dues through RTGS/NEFT and submit Electronic Challan cum Return (ECR). Employers have also been facilitated to avail e-inspections of their establishments," it said. In case of any grievance, the EPFO said employees, employers and pensioners can get them resolved online through EPFigms portal. The details of these services and facilities are also available at www.epfindia.gov.in. All these facilities are also available on the government's UMANG App and one can avail the services on mobile his/her mobile phone too, the EPFO said. ABI MRMR

Coronavirus: EPFO advises beneficiaries to not to visit its offices

New Delhi, Mar 19 () The government has notified the rules and online forms to be filled by taxpayers for availing the direct tax dispute resolution scheme 'Vivad Se Vishwas'. Under the proposed scheme, taxpayers willing to settle disputes will be allowed a complete waiver of interest and penalty if they pay the entire amount of tax in dispute by March 31 this year. After March 31, an additional 10 per cent of disputed tax will have to be paid over and above the tax liability. However, disputes related to wealth tax, commodity transaction tax, securities transaction tax and equalisation levy are not covered. The scheme would remain open till June 30. The Revenue Department notified five forms for various steps under the scheme, which are required to be filled online. The eligible assessees are required to submit their declaration in Form 1 to the designated authority, which is a very detailed form covering different scenarios. Further, an undertaking waiving the right to seek or pursue any remedy or any claim in relation to tax arrears under any law shall have to be furnished by the declarant in Form 2. The declaration form (Form 1) seeks detailed information relating to the nature of tax arrears, assessment year, details of order, amount of tax arrears already paid, etc. Further, the form provides the manner of computation of 'tax payable' under the scheme in different scenarios (i.e. for declarations relating to disputed tax/ TDS/TCS/ disputed interest/ disputed penalty or fee). On receipt of the declaration form and undertaking, the designated authority shall, within 15 days, issue an order (in Form 3) directing the assessees to make payment of sum payable after adjusting the amounts already paid. The assessee has also been given a 30-day period (as per Form 3) for payment of the prescribed sum and give intimation of such payment to the designated authority. The intimation of payment is required to be made in Form 4, specifying the details of payment like the serial number of challan, date of payment and amount. In case of non-payment of the amount determined within the prescribed time period, the declaration shall be treated as void and shall be deemed to have never been made. Finally, the designated authority shall issue a certificate (in Form 5) granting immunity and specifying the details of dispute settlement. Meanwhile, Nangia Andersen Consulting Chairman Rakesh Nangia said the forms and rules have been notified merely 10 days before the due date, if taxpayers want to obtain maximum benefits under the scheme. Additionally, all the forms are required to be filled online and utility/ e-forms are yet to be released, which may take another 1-2 days. So practically, taxpayers may have only around 7-9 working days to avail the scheme on/before March 31, 2020, he said. "Therefore, practically, it may be extremely difficult both for the taxpayers as well as designated authorities to examine all the cases and make payment on/ before 31st March 2020," Nangia said. Further, the turmoil due to the coronavirus pandemic makes matters worse as various offices and tax practitioners have started working from home. "The scheme designed to provide relief to taxpayers stuck in long drawn litigation becomes less attractive and practically very difficult to implement owing to the stringent deadlines, which must be extended by the government," Nangia added. JD ABMABM

Govt notifies rules, forms for Vivad Se Vishwas scheme

For the purpose of collecting taxes, the government takes into account the profession, business or income of a person. When the taxpayers file their Income Tax Return, they must check which form they must use to file their ITR. Here we learn who can file ITR 1 which is also known as Sahaj form. <keyword id="7839865" type="UNKNOWN" weightage="20" keywordseo="what-is-itr">What is ITR</keyword> 1? ITR1 is also popularly known as Sahaj form. This is a simple and easy to fill the form for one-page. Individuals who earn an income of less than Rs. 50 lakhs need to use this form to file ITR. The persons earning through the following sources can use ITR 1. <ul><li>Earnings through salary or pension</li><li>Earnings from their own property or house</li><li>Earnings from other kinds of sources (this does not include winning from horse race or lottery)</li></ul>How to fill ITR 1 form Part A – General Information In the general information section, the taxpayer must fill in their personal details including name, sex, age, residential status, address, contact number, etc. Part B – Gross Total Income In this section, the details pertaining to the income made from salary or pension as found in Form 16 or the TDS certificate issued by the employer need to be furnished. If the taxpayer worked for more than one employer in the given year, the details with regard to the total salaries received from different employers need to be entered. If the person has any income through rents or loss due to payment of housing loan interest from a single house or property, such details need to be given in this section. If the individual sustained any losses, the form ITR 2 needs to be used. Part C – Deductions and taxable total income In this section, the taxpayer has to furnish all the relevant details of the investments that will be counted for tax savings or the expenses that are eligible to claim tax deductions. The total income after all these calculations must be mentioned in this section. Part D – Computation of Tax Payable In this section, the person paying tax needs to club the items including Advance tax, Self-assessment Tax, TDS, TCS under ‘Total Tax Paid’. The details with regard to all kinds of exempt income, like dividend income, agricultural income, and others must be mentioned here. Part E – Other Information This section is meant to provide the details with regard to the savings and current accounts held by the person during the previous year (excluding the dormant accounts that are not operational for over 3 years). The individual must also furnish the details regarding the cash deposited in the accounts other than the current and savings account like loan accounts and others. If the cash deposited over the year is more than Rs. 2 lakhs, the aggregate amount of cash deposited must be furnished here. Schedule IT – Details of Advance tax and Self-assessment Tax payments If the taxpayer has made an advance payment of tax or some self-assessment taxes, such details must be entered with the BSR code of the bank through which the payment was processed, the payment date, challan’s serial number, and the total amount paid through the challan. Schedule TDS – Details of TDS/TCS In this section, the details from Form 16 issued by the employer with regard to salary income must be given. Also, the details about the TDS or TCS as per Form 27D issued by the tax collector must be furnished. Verification In this section, the taxpayer must enter the date and signature. The form will not be accepted if there is no valid signature.

What is ITR1 and who can file ITR 1?

For the purpose of collecting taxes, the government takes into account the profession, business or income of a person. When the taxpayers file their <keyword id="104359" type="PERSON" weightage="20" keywordseo="income-tax-return">Income Tax Return</keyword>, they must check which form thy must use to file their ITR. Here we learn who can file ITR 1 which is also known as Sahaj form. What is ITR 1? ITR1 is also popularly known as Sahaj form. This is a simple and easy to fill form for one-page. Individuals who earn an income of less than Rs. 50 lakhs need to use this form to file ITR. The persons earning through the following sources can use ITR 1. <ul><li>Earnings through salary or pension</li><li>Earnings from their own property or house</li><li>Earnings from other kind of sources (this does not include winning from horse race or lottery)</li></ul>How to fill ITR 1 form Part A – General Information In the general information section, the taxpayer must fill in their personal details including name, sex, age, residential status, address, contact number, etc. Part B – Gross Total Income In this section, the details pertaining to the income made from salary or pension as found in Form 16 or the <keyword id="17506" type="ORGANIZATION" weightage="20" keywordseo="TDS">TDS</keyword> certificate issued by the employer need to be furnished. If the tax payer worked for more than one employer in the given year, the details with regard to the total salaries received from different employers need to be entered. If the person has any income through rents or loss due to payment of housing loan interest from a single house or property, such details need to be given in this section. If the individual sustained any losses, the form ITR 2 need to be used. Part C – Deductions and taxable total income In this section, the tax payer has to furnish all the relevant details of the investments that will be counted for tax savings or the expenses that are eligible to claim tax deductions. The total income after all these calculations must be mentioned in this section. Part D – Computation of Tax Payable In this section, the person paying tax needs to club the items including Advance tax, Self-assessment Tax, TDS, TCS under ‘Total Tax Paid’. The details with regard to all kinds of exempt income, like dividend income, agricultural income, and others must be mentioned here. Part E – Other Information This section is meant to provide the details with regard to the savings and current accounts held by the person during the previous year (excluding the dormant accounts that are not operational for over 3 years). The individual must also furnish the details regarding the cash deposited in the accounts other than the current and <keyword id="114757" type="PERSON" weightage="20" keywordseo="Savings-Account">savings account</keyword> like loan accounts and others. If the cash deposited over the year is more than Rs. 2 lakhs, the aggregate amount of cash deposited must be furnished here. Schedule IT – Details of Advance tax and Self-assessment Tax payments If the tax payer has made any advance payment of tax or some self-assessment taxes, such details must be entered with the BSR code of the bank through which the payment was processed, the payment date, challan’s serial number, and the total amount paid through the challan. Schedule TDS – Details of TDS/TCS In this section, the details from Form 16 issued by the employer with regard to <keyword id="2414551" type="PERSON" weightage="20" keywordseo="Salary-income">salary income</keyword> must be given. Also, the details about the TDS or TCS as per Form 27D issued by the tax collector must be furnished. <keyword id="6401487" type="UNKNOWN" weightage="20" keywordseo="verification">Verification</keyword> In this section, the tax payer must enter the date and signature. The form will not be accepted if there is no valid signature.

ITR 1 Filing: Who can file ITR 1

If you’re caught breaking the traffic in <a href="http://www.businessinsider.in/searchresult.cms?query=mumbai">Mumbai</a> anytime after January 12, we’d advise you keep your wallet handy- with your debit or <keyword id="6368202" type="ORGANIZATION" weightage="80" keywordseo="Credit-card">credit card</keyword> as the <keyword id="86426" type="ORGANIZATION" weightage="80" keywordseo="Mumbai-Traffic-police">Mumbai Traffic Police</keyword> has done away with accepting fines by cash and will be asking offenders to swipe their cards to pay the fine. 
 
Over 1000 machines have been handed over to traffic constables all across the city on January 12, in accordance with the traffic department launching its e-challan system. 
 
As these machines have been rented out from private firms, a convenience charge of Rs 9.5 will also have to be borne by the offenders along with their fine. The department has also tied-up with State Bank of India to help them handle the online challan payments. 
 
If you happen to be a motorist not carrying your card on the fateful day, the traffic department has another option for you. You will be given a 15-day window period to pay the fines through netbanking. However if you’re unable to pay your fine by the 15th of your stipulated date, you’ll be required to pay an additional Rs 10 everyday’s delay thereafter. 
 
However, incase you do not possess a card, your details will be uploaded into a system and <a href="http://www.businessinsider.in/searchresult.cms?query=traffic+police">the traffic police</a> will give you an e-challan. You’re required to pay the fines through netbanking before the next 15 days. 
 
The move, apart from helping cashless transactions see the light of the day in the commercial capital of the country will also help the constable in identifying repeat offenders and the greatest of them all- help in reducing <a href="http://www.businessinsider.in/searchresult.cms?query=corruption">corruption</a>. 
 We sure as hope that all our readers drive safely and are not caught for <keyword id="6408538" type="UNKNOWN" weightage="80" keywordseo="traffic-violations">traffic violations</keyword>, but incase you are, here is a list of various traffic fines for your convenience- 
 
· Drunk driving- Rs 2,000 
· Driving without a license- Rs 300 
· Jumping signals- Rs 100 
· No helmet or seatbelt: Rs 100 
· No documents: Rs 100 
· Wrong parking: Rs 100 
· Tinted glass: Rs 100 
· Triple-seat riding: Rs 100 
 
Image credit: Indiatimes

Caught breaking traffic in Mumbai? Get ready to pay
the fine by card now!

New Delhi, Feb 26 () Finance Minister Nirmala Sitharaman on Wednesday assured bankers that they will not be hauled up for genuine commercial decisions even if the call goes wrong due to business reasons. She, however, added that the decision taken with malafide intension will be dealt as per the law. "They are at least now reassured that the government is repeatedly making distinction between vigilance based decisions and those which are not. We have made it very clear that genuine commercial decisions even if they have gone wrong because businesses went down are not going to be held against their decision making at all," she said. Addressing heads of public sector banks here, the Finance Minister said bankers have gone through period of churning starting with Asset Quality Review in 2015 leading to some disorientation among them. "So many things have to be reset, so many things have to be reoriented and till today, many of us still feel we need to give that extra push to people move forward with that without fear or without any suspicion in their minds that the intent with which that they working is well meant, well intended and therefore it is done with certain sense of professionalism and nothing more to worry about," she said. The Prime Minister has spoken with great sense of assurance that there will be a clear, divide between genuine commercial decisions which banks are taking and which is critical to running and banks, as different from those in which they could be vigilance angle, she said. She also urged bankers to give emphasis on branch based banking and improve customer ease. "Even today, when people come to meet me, they've been voicing worries about how at branch level we can be a bit more friendlier," she said. Coming back to branch-level banking, she said branches are now losing personal touch which needs to be restored. Customers expects that little level of touch from bankers, she added. Observing that ratings from credit rating agencies are not advisory, she said it is just an indicator of a customer. So the decision solely based on the advice of a credit rating agency should not be taken. "Was there ever a directive from either the Reserve Bank of India or Indian Banks' Association to say that you will blindly follow the rating agencies figures or numbers given to you. No," she said. The finance minister also wanted banks to sensitise bankers about the government schemes at the branch level even if they are not concerned. Meanwhile, the finance minister unveiled EASE 3.0, the Public Sector Bank (PSB) Reforms Agenda 2020-21 for smart, tech-enabled banking, and the PSB EASE Reforms Annual Report 2019-20. EASE 3.0 seeks to enhance ease of banking in all customer experiences, using technology, FinTech, alternate data and analytics. Dial-a-loan for doorstep loan facilitation, Credit@click for end-to-end digitalised lending, on-the-spot EASE Banking Outlets at well-frequented places like malls and stations, palm banking, digitalised branch experience are part of a wide array of tech-enabled ease enhancements that PSBs would effect during FY2020-21. At the launch function organised by Indian Banks' Association, individual PSBs gave a preview of the array of tech-enabled services that are in the pipeline or have been piloted and will be scaled up over the coming year across PSBs. UCO Bank unveiled its plans for customers to obtain via app, portal or call centre, Doorstep Banking Services offered collectively by PSBs as 'PSB Alliance', for services such as pick-up of cheques and income-tax exemption certificates and delivery of income-tax challan, drafts and account statements in major cities across India. State Bank of India showcased Shishu e-Mudra app-based lending for instant sanction of working capital up to Rs 50,000 to existing small business customers of the bank and the bank announced its plan to scale up sanctioning through the app to Rs 1 lakh in branch-assist mode. Union Bank of India gave a preview of its app for end-to-end digitalised lending to MSMEs of up to Rs 50 crore, which it proposes to roll out during the coming year. Bank of Baroda showcased its tablet-based Tab Banking services for doorstep account-opening, including in villages and for migrant labourers in industrial units, and has created capacity for opening about 10,000 accounts per day. DP MRMR

Bankers not to be hauled up for genuine commercial decisions: FM

The deadline to e-file <a href="http://www.businessinsider.in/searchresult.cms?query=income+tax+returns&amp;sortorder=effectivedate">income tax returns</a> for FY2015-16 has been extended till 5th August 2016. Anyone who has a gross annual income of Rs 2.5 lakh and more is lawfully required to file their tax returns. You should file returns even if you don’t have taxable income because the <keyword id="6354751" type="COMPANY" weightage="100" keywordseo="Income-Tax">income tax</keyword> return is an important document that is required at the time of applying for a visa or loan and to avail income tax refunds, among other reasons. 
 
Remember that anyone with an annual gross income of Rs 5 lakh and more has to compulsorily e-file their tax returns. They cannot file physical returns. 
 
But before you e-file your <a href="http://www.businessinsider.in/searchresult.cms?query=income+tax+returns&amp;sortorder=effectivedate">tax returns</a> in these last few days, make sure you avoid any last minute glitches by keeping the following points in mind. 
 
Information required to file tax returns 
1. To file your income tax returns, you will need to have the following information handy: 2. <keyword id="383410" type="UNKNOWN" weightage="60" keywordseo="form-16">Form 16</keyword> if you’re a salaried employee 
3. Interest income details 
4. Personal details like PAN, bank account number, etc 
5. Proofs of tax-saving expenses and investments 
6. Details of other incomes, if you have any 
 
If you have worked with different companies during the financial year, you should have Form 16s from both or at least your payslips to compute your cumulative income for the year. 
 
Adding different sources of income 
Many taxpayers are not aware of the different incomes that need to be included in their income tax returns. This includes income from interest earned on savings bank accounts, fixed deposits, etc. Also, income from some freelance work that you might have done or income from house property that you own. All of these incomes have to be added to your tax returns as well. 
 
Paying tax due If you have taxable income even after claiming deductions on allowances, investments and expenses, you will need to pay the tax to the government to be able to file your returns. You cannot file tax returns without paying tax that is due using Challan 280 on the <keyword id="65338" type="ORGANIZATION" weightage="60" keywordseo="Income-Tax-Department">Income Tax Department</keyword> website. After you have made the payment, you have to report the same in your income tax returns while filing them. 
 
Verifying tax returns 
The process of filing income tax returns doesn’t get completed till the returns are verified. Your returns can be verified physically or electronically. The e-verification method is easy and quick when you use your netbanking account or generate an electronic verification code. Either way, you should verify your returns. Tax returns are not considered filed if they are not verified in a timely manner. 
 
Benefits of e-filing 
There are many advantages of e-filing your income tax returns. The process of doing it online is easy and quick as compared to the physical process. Your tax returns are an important document that is required at the time of applying for a loan or visa. You will also require to file returns if you want to get a refund on the TDS deducted on your behalf. 
 
(Article authored by Mr <a href="http://www.businessinsider.in/searchresult.cms?query=ClearTax&amp;sortorder=effectivedate">Archit Gupta</a>, Founder &amp; CEO <a href="http://www.businessinsider.in/searchresult.cms?query=ClearTax&amp;sortorder=effectivedate">ClearTax</a>.com) 
 
<a href="http://economictimes.indiatimes.com/photo/53031575.cms">Image Source</a>

How to overcome last minute glitches to
file your taxes

The central government has liked the concept of Transparency in Recruitment Process (TRP) so much that Prime Minister <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword>'s <keyword id="1906534" type="UNKNOWN" weightage="80" keywordseo="smart-police">SMART Police</keyword> plan will draw inspiration from it. The process was started by Uttar Pradesh Chief Minister <keyword id="6355031" type="PERSON" weightage="80" keywordseo="Akhilesh-Yadav">Akhilesh Yadav</keyword> to recruit the state police. <keyword id="2799694" type="UNKNOWN" weightage="80" keywordseo="Union-Home-Secretary-LC">Union Home Secretary LC</keyword> Goyal has chaired a meeting on May 25 to discuss progress made on the SMART Police plan. In the meeting, he has praised the <keyword id="152354" type="UNKNOWN" weightage="80" keywordseo="TRP-system">TRP system</keyword> and termed it as a "commendable system worthy of replication by all states", an Economic Times report stated. 

	What is this TRP system? It involves minimum human intervention in the evaluation process of possible recruits based on automated criteria, online documentation of their performance during trials, which is available to all for review for maximum transparency, and minimises discretion along with incorporating a prompt grievance system for rejected candidates.
 "Police recruitment exercises have been infamous for corruption and favouritism. The system introduced by <keyword id="6354864" type="ORGANIZATION" weightage="80" keywordseo="UP-police">UP Police</keyword> is a landmark system," a senior home ministry official said. 

	In the meeting, Goyal decided to obtain a status report from the UP government on TRP to incorporate it into the SMART Police plan, as per the financial daily. 
 

	The SMART Police plan was announced by the Prime Minister in December 2014 and the Ministry of Home Affairs is currently working on it. 
 

	In the past two months, the ministry has held four regional workshops at Bengaluru, Bhopal, Guwahati and Chandigarh to study over 50 best police practices followed in various states. 
 Goyal, at the May 25 meet, shortlisted five such practices, which will be examined further for replication across India. These include a web-based system for filing of complaints and FIRs, a mobile application for distress assistance on the lines of the HIMMAT application of the Delhi Police, a web-based court cases monitoring system on the lines of the model followed in Vijaywada, e-challans for traffic offences and Vehicle Database Access on the models of the Delhi Police, Gujarat Police and <keyword id="127510" type="ORGANIZATION" weightage="80" keywordseo="Karnataka-Police">Karnataka Police</keyword>, and a community policing initiative in Khanna by <keyword id="95863" type="ORGANIZATION" weightage="80" keywordseo="Punjab-Police">Punjab Police</keyword>. 
	(Image: Indiatimes)

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