J-K Govt amends employee asset disclosure regulations

SRINAGAR — The government employees in Jammu & Kashmir will now have to declare details of only those moveable assets whose value exceeds his/her two months’ salary.

The administration of Jammu & Kashmir on Tuesday amended the rules governing the declaration of assets by government employees.

In a notification, a copy of which is in possession of news agency Kashmir News Observer (KNO), the General Administration Department (GAD) today ordered that public servants shall declare details of only those moveable properties in their annual returns whose value exceeds his two months’ salary.

“Every public servant shall bring to the notice of the prescribed authority the acquisition or transfer of movable property where the value of such property exceeds his two salaries in each case,” reads The Jammu and Kashmir Public Servants Declaration of Assets and Other Provisions Rules, 1998.

Before the amendment, the employees had to declare details of their moveable properties if their value exceeds Rs 20,000 in each case.

According to the rules, the employees have to declare details of their cash balance, saving bank deposits, shares, cash certificates, fixed deposits, debentures, security bond jewellery/ornaments and household items (electric and electronic items only) in their annual returns.