Aadhaar-PAN Linking Mandatory From July 1. How To Do It

Aadhaar-PAN Linking Mandatory From July 1. How To Do It

Aadhaar-PAN Linking Mandatory From July 1. How To Do It

Appealing the public not to panic, the income tax department has said permanent account numbers (PAN) will not become invalid after June 30, 2017. However, the notification did not specify how this was to be done, said Sonu Iyer, Tax Partner and People Advisory Services leader at EY India. It noticed the huge rush of people to link Aadhar Card with PAN as the time is approaching closer.

Once on the income tax e-filing website - incometaxIndiaefiling.gov.in, click on the "Link Aadhaar" option on the left hand side. Also, according to the Supreme Court ruling, those who do not have not been allotted Aadhaar number yet need not scramble for it, as the process is only for Aadhaar-holders.

Section 139AA of the Income Tax Act offers a better and a reasonable clarification on the deadline.

For all assessees whose name given in the Aadhaar card and PAN card are identical, a simple SMS-based facility is provided to achieve the linking. For sure, everyone's Aadhaar must be linked with their PAN. Notwithstanding, on the off chance that you don't connect your Aadhaar with PAN before July 1, your PAN won't end up plainly invalid. The individuals misunderstood that the PAN is invalid after the deadline if they did not link Aadhar with PAN.

Labour Faces Brexit Divisions After MPs Rebel On Single Market Motion
The Labour amendment to bring an end to the 1% pay cap on public sector workers was defeated by a majority of 14 votes. Corbyn's deputy Tom Watson said he was disappointed with Umunna for trying to " divide " Labour MPs with the vote.

CNN's Acosta Goes on Another Tantrum About Conservative Reporters
Sean Spicer, the ghosts of press secretaries past would like to have a word with you. "The President is going to speak today in the Rose Garden".

How Bank of America Landed a Spot in Warren Buffett's 'Big Four'
Buffett insists that Berkshire Hathaway keep a minimum of $20 billion in cash at all times, and it often has a lot more than that. It seems Buffett would likely take this action as long as he believes Bank of America's stock would remain stable to higher.

The Income Tax Department has made it easy for taxpayers to link their PAN with Aadhaar with just a 2 step process which does not even require to login or register at the e- filing website. As indicated by PTI, a senior Income Tax Department official elucidated that individuals who are not ready to connect their Aadhaar and Permanent Account Number (PAN) by July 1, will have the choice to specify the UIDAI-gave number in the e-ITR and this will be viewed as a legitimate connecting of the two interesting numbers. However, a holder of both the documents may face issues in filing taxes, while those having an Aadhaar and wanting to apply for a new PAN will have to furnish the Aadhaar details in the PAN application.

The Central Board of Direct Taxes (CBDT), till now, has linked over 2.16 crore Aadhaar numbers with its PAN database.

"Every person who has been allotted permanent account number as on the 1st day of July, 2017, and who is eligible to obtain Aadhaar number, shall intimate his Aadhaar number to such authority in such form and manner as may be prescribed, on or before a date to be notified by the Central Government in the Official Gazette".

Related news

[an error occurred while processing the directive]