It may be recalled that the deadline for linking of PAN and Aadhar has been extended several times and the latest deadline ends on 31 March, 2020
The deadline for linking of PAN and Aadhar has been extended several times and the current deadline ends on March 31, 2020
The government has made PAN-Aadhaar linkage mandatory and over 30.75 crore PANs have already been linked to Aadhaar
In an 86-page circular on the matter, CBDT directed mandatory quoting of PAN or Aadhar number by employees under Section 206 AA of the Income Tax Act.
The Central Board of Direct Taxes (CBDT), that frames policy for the I-T department, said a notification has been issued in this context
The government will use the data to better deliver targeted schemes such as Ujwala Yojana, PM Kisan and others
There are four simple ways to link PAN to Aadhaar; make the most of deadline to avoid hassles later
Those who cite an Aadhaar number, which is not already linked to a PAN number, for tax returns and other specified transactions after September 1, will get a fresh one from the Income Tax Department.
Banks and other institutions will make backend upgrades to allow acceptance of Aadhaar in all places where quoting PAN is now mandatory, says Revenue Secretary
Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without waiting for the mandatory 180 days
The new rules will come into effect from December 5
The income tax data revealed that there was about 359 million PAN allotted by end December 2017
It's a digitally-signed card issued in an electronic format by the Income Tax Department using Aadhaar-based e-KYC process
The department, on April 10, had amended the income tax rules to henceforth allow transgenders be recognised as an independent category for obtaining PAN for their tax-related transaction
The allotment of PAN is being carried out by the tax department through two service providers, NSDL e-Gov and UTIITSL
Out of all fraudulent permanent account numbers, 10.52 lakh cases pertain to individual assesses
They have been found with cash deposits of Rs 10,00,000 or more in a savings bank account, sale/purchase of immovable property valued at Rs 30,00,000 or more