: Don’t miss Mar 31 deadline for linking PAN-Aadhaar: I-T Dept #FinanceIndia #StockMarketNEWS #Business New Delhi: The Income Tax Department on Monday issued a public message saying it was “mandatory�

@StockMarketNEWS Wed 18 Mar, 2020

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Don’t miss Mar 31 deadline for linking PAN-Aadhaar: I-T Dept #FinanceIndia #StockMarketNEWS #Business
New Delhi: The Income Tax Department on Monday issued a public message saying it was “mandatory� to link PAN with Aadhaar and advised people not to “miss� the stipulated deadline of March 31.



The department had last month said Permanent Account
Number (PAN) will become “inoperative� if it is not linked with Aadhaar by this
date.



“Don’t miss the deadline! It is mandatory to link your
PAN and Aadhaar before 31st March, 2020. You can do it through Biometric
Aadhaar authentication & also by visiting the PAN service centers of NSDL
and UTITSL,� the department said in the latest post on social media.



In a video, attached with the message on its Twitter
handle @IncomeTaxIndia , it said such a linking is for a “beneficial tomorrow�.



The video described that there are two ways to complete
this task:



1. Send SMS to 567678 or 56161 in the format:
UIDPAN<space>12digit Aadhaar><space>10digitPAN>



 2. Through
e-filing portal of the department: Incometaxindiaefiling.Gov.In.


The Central Board of Direct Taxes (CBDT), that frames
policy for the I-T department, had extended the deadline for this task for the
eighth time on December 30 last year.



The Supreme Court had in September 2019 declared the
Centre’s flagship Aadhaar scheme as constitutionally valid and held that the
biometric ID would remain mandatory for the filing of tax returns and allotment
of PAN.



Section 139 AA (2) of the Income Tax Act says that every
person having PAN as on July 1, 2017, and is eligible to obtain Aadhaar, must
intimate his Aadhaar number to tax authorities.



Aadhaar is issued by the Unique Identification Authority
of India (UIDAI) to a resident of India and PAN is a 10-digit alphanumeric
number allotted by the I-T department to a person, firm or entity.



As per official data updated till January 27, over 30.75
crore PANs have been linked to Aadhaar.



At that time, 17.58 crore PANs were yet to be linked with
the 12-digit biometric ID.



The CBDT had also issued a notification amending I-T
rules and inserted Rule 114AAA that stipulates the “manner of making permanent
account number inoperative� for those who do not link the two by March 31.



The notification said persons whose PANs become
inoperative shall be liable for all the consequences under the I-T Act for not
furnishing, intimating or quoting PAN.



For those linking PAN with Aadhaar after March 31, 2020,
the I-T department had said it shall “become operative from the date of
intimation of Aadhaar number�.
The post Don’t miss Mar 31 deadline for linking PAN-Aadhaar: I-T Dept appeared first on The Navhind Times.

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