Central govt employees to declare details of foreign accounts

PTI, New Delhi ,Updated: Mar 31, 2016 17:32 IST

All Central government employees have been asked to declare details of deposits in foreign bank accounts including those of their spouses and dependent children, as per the new rules under the Lokpal Act.

Besides, they have to give details of paintings, antiques, furniture and electronic equipments among others in case their total current value exceeds two months’ basic pay or Rs one lakh.

The declarations under the Lokpal Act are in addition to similar ones filed by the employees under various services rules. All Group A, B and C employees are supposed to file the declaration under the Lokpal law.

The Department of Personnel and Training (DoPT) has written to all Central government ministries and Chief Secretaries of state governments to ensure that the employees working under them declare details of their assets and liabilities, along with that of their spouse and dependent children, by April 15.

All employees have to file returns of two years--i.e. for 2014 and 2015 by April 15--and another return giving details of their assets and liabilities for 2016 by July 31, this year.

“In this regard, it is stated that there shall be no further extension of the aforesaid last date i.e. April 15, 2016,” it said in the communique.

There are about 50 lakh Central government employees.

The employees will also have to inform separately in case of any investments of over Rs 2 lakh made in movable assets, insurance, bonds, shares and mutual funds in the new form.

Investment above Rs 2 lakh to be reported individually.

Investments below Rs 2 lakh may be reported together, it said.

“Details of deposits in foreign bank(s) to be given separately,” the DoPT said.

Employees have to give details of expensive furniture, fixtures, antiques, paintings and electronic equipment also if the total current value of any particular asset in any particular category (e.g. furniture, fixtures, electronic equipments, etc) exceeds two months’ basic pay or Rs one lakh, it said. 

Courtesy :  http://www.hindustantimes.com