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Press Information Bureau
Government of India
Ministry of Labour & Employment

Dated: 04 MAR 2023

EPFO making all-out efforts to publicize the process of joint option which can be submitted online till 03rd May, 2023

The online joint (employee and employer) option form with the necessary documents has been hosted by EPFO in the unified portal for contributing on higher salary to the EPS-95. The form paves the way for giving effect to the SC order dated 04.11.2022, while adhering to the basic scheme provisions. More than 8,000 members have already applied online as on date though the submission deadline is 03^rd May, 2023.

Since, the contributions of both the employee and employer on higher wages are involved, the EPF and EPS-95 schemes require the joint request when they contribute on higher salary. This is not a new requirement and predates the EPS-95 and the position has been affirmed by SC in the RC Gupta case stating that it is a necessary pre-cursor for exercising joint option on higher salary under EPS.

The circular dated 20^th February 2023 adheres to the provisions of the Scheme and complies with the Supreme Court orders. The correct assessment of contributions and their deposit and diversion to Pension Fund, the past services rendered and the remittances made are necessary for correct calculation of the benefits and valuation of the Pension Fund.The EPFO closed the options on 4^th of March 2023 for the retired EPS members (prior to 01.09.2014 and whose options were not considered earlier). It has received 91,258 online applications from this category of employees as on 04.03.2023.

EPFO has been making all-out efforts to publicize the process of joint option which can be submitted online till 03rd May, 2023. In respect of persons who were EPF members as on 01.09.2014, The online applications are being preferred by the employees since 27^th February,2023 and already 8,897 members have applied to their employers.

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MJPS

 

Ministry of Finance

PM to address 12 post-budget webinars to be held between 23rd February and 11th March

Webinars are being organised by various Ministries/Departments to build on the “Saptarishi” Priorities outlined in the Union Budget 2023-24

Idea of post budget webinars was conceptualised by PM to bring together all stakeholders for bringing synergy in implementation of Budget announcements

Dated: 22 FEB 2023

Prime Minister Shri Narendra Modi will address 12 post-budget webinars which will be held between 23^rd February and 11^th March, 2023. These webinars are being organised by various Ministries/Departments to build on the “Saptarishi” Priorities outlined in the Union Budget 2023-24.

The government under the visionary leadership of Prime Minister has undertaken several budgetary reforms in the past few years. The date of budget was preponed to 1st February so that Ministries and Departments get sufficient time for utilisation of the funds on the ground before the onset of monsoons. Another step towards bringing in reforms in budget implementation was the novel idea of Post Budget Webinars. This idea was conceptualised by the Prime Minister to bring together experts from the public and private sectors, academia, industry and practitioners on the field on a single platform and collaboratively work on implementation strategies across sectors. These webinars were started in 2021 in the spirit of Jan Bhagidari and encourage involvement and ownership of all concerned stakeholders in effective, quick and seamless implementation of the Budget announcements.

The webinars will be focussed on synergising efforts of various Ministers and Departments and all concerned stakeholders towards preparation of action plans with quarterly targets so that the implementation is front ended and smooth with timely achievement of intended outcomes. They are being held virtually to ensure wide participation. They will be attended by concerned Union Ministers, key stakeholders from Government departments, Regulators,  Academia, Trade and Industry associations etc.

The Schedule of webinars is as follows-

1.	Green Growth	23rd February
2.	Agriculture and Cooperatives	24th February
3.	Harnessing Youth power- Skilling and Education	25th February
4.	Reaching the last mile/Leaving No Citizen Behind	27th February
5.	Unleashing the Potential: Ease of living using Technology	28th February
6.	Urban Development with focus on Planning	1st March
7.	Developing Tourism in mission mode	3rd March
8.	Infrastructure and Investment: Improving logistic efficiency with PM Gatishakti National Master Plan	4th March
9.	Health and Medical Research	6th March
10.	Financial Sector	7th March
11.	Women Empowerment	10th March
12.	PM Vishwakarma Kaushal Samman (PM VIKAS)	11th March

 

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RM/PPG/KMN

(Release ID: 1901495) 

 

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

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New Delhi, 15^th February, 2023

PRESS RELEASE

CBDT notifies Income Tax Return Forms for the Assessment Year 2023-24 well in advance

CBDT has notified Income-tax Return Forms (ITR Forms) for the Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2023 and 14.02.2023. These ITR forms will come into effect from 1^st April, 2023 and have been notified well in advance in order to enable filing of returns from the beginning of the ensuing Assessment Year.

In order to facilitate the taxpayers and to improve ease of filing, no significant changes have been made to the ITR Forms in comparison to last year’s ITR Forms. Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 (the ‘Act’) have been made.

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler Forms that cater to a large number of small and medium taxpayers. Sahaj can be filed by a resident individual having income upto Rs. 50 lakh and who receives income from salary, one house property, other sources (interest etc.) and agricultural income upto Rs. 5 thousand. Sugam can be filed by individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnerships (LLPs)) being a resident having total income upto Rs. 50 lakh and income from business and profession computed under sections 44AD, 44ADA or 44AE.

Individuals and HUFs not having income from business or profession (and not eligible for filing Sahaj) can file ITR Form 2 while those having income from business or profession can file ITR Form 3. Persons other than individuals, HUFs and companies i.e. partnership firms, LLPs etc. can file ITR Form 5. Companies other than companies claiming exemption under section 11 can file ITR Form 6. Trusts, political parties, charitable institutions, etc. claiming exempt income under the Act can file ITR Form 7.

In order to further streamline the ITR filing process, not only have all the ITR forms been notified well in time this year, no changes have been made in the manner of filing of ITR Forms as compared to last year. The notified ITR Forms will be available on the Department’s website at www.incometaxindia.gov.in

 

(Surabhi Ahluwalia)

Pr. Commissioner of Income Tax

 (Media & Technical Policy)

Official Spokesperson, CBDT.