Govt employees alert! You may face heavy penalty, disciplinary action if you fail to report high-value transactions – Key guidelines

Govt employees alert! Non-reporting high-value transactions could lead to disciplinary action – Key guidelines you must know

All central and state government employees must adhere to certain guidelines as far as reporting their high-value transactions is concerned. The Centre recently clarified certain aspects of rules governing reporting income and asset reporting by employees.

The Minister of State for Personnel, Public Grievances, and Pensions, Jitendra Singh, outlined the rules regarding the annual submission of property details by government employees, in response to queries posed by parliamentarian Arun Govil in the recently concluded Parliament session.

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Govil raised questions about monitoring property disclosures, comparing annual immovable property returns (IPRs), and addressing disproportionate assets of central and state government employees.

Also read: Taxpayers cheers! THESE 5 income tax rule changes make return filing easier now!

Government seeks annual property details from employees

Whether the union and state governments and the public undertakings obtain the details of properties from their officers and employees every year and this detail is compared with the property details given by them in the previous year, the minister asked.

The member also sought to know about the action taken by the government against the officers and employees of the central government and the undertakings who fail to submit their annual property details on time.

Govil went on to know about the action taken by the government against the officers/employees whose value of the property is found to be more in proportion to their income of the last two years.

The minister clarified that government servants are required to report their assets and liabilities upon their first appointment and submit annual immovable property returns (IPRs) by January 31 of the following year. This rule applies under the Central Civil Services (Conduct) Rules, 1964, and All India Services (Conduct) Rules, 1968. Employees of Central Public Sector Enterprises (CPSEs) are also subject to similar provisions.

Failure to submit IPRs on time can lead to the denial of vigilance clearance for specific purposes.

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