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Babus get fifth extension, can file asset details till July

The deadline for Central government employees to file details of their assets and liabilities, along with that of their spouses and dependent children, as part of mandatory obligations under the Lokpal Act was on Monday extended for the fifth time till July 2016.

The rules under the Lokpal law have been amended to extend the date of filing returns from April 15 to July 31, 2016, a senior official in the Department of Personnel and Training (DoPT) said.

With the latest extension, employees will have to file three declarations – one each for 2014, 2015 and 2016. There are about 50 lakh Central government employees.

The declarations under the Lokpal law are in addition to similar ones filed by the employees under various services rules.

Employees have to furnish details such as cash in hand, bank deposits both in domestic and in foreign, investment in bonds, debentures, shares and units in companies or mutual funds, insurance policies, provident fund, personal loans and advance given to any person or entity, among others.

They also have to declare expensive furniture, fixtures, antiques, paintings and electronic equipment, if the total current value of any particular asset in any particular category (e.g. furniture, fixtures, electronic equipments) exceeds two months’ basic pay or Rs 1 lakh.
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