Aadhaar-PAN connecting should from July 1, central government alerts tax guidelines
Express News Global
By Press Trust Of India|Updated: 28th June 2017
NEW DELHI: The federal government has actually made it obligatory to connect existing Aadhaar numbers with PAN of taxpayers with impact from July 1.
Changing earnings tax guidelines and informing the exact same, the federal government has actually made pricing estimate of the 12-digit biometric Aadhaar or the enrolment ID a should at the time of application of irreversible account number (PAN).
Financing Minister Arun Jaitley through a modification to tax propositions in the Finance Bill for 2017-18 had actually made Aadhaar necessary for submitting tax return and attended to connecting of PAN with Aadhaar to inspect tax evasion through usage of several PAN cards.
The earnings department stated “everyone who has actually been set aside PAN as on July 1, 2017, and who in accordance with the arrangements of sub-section (2) of area 139AA is needed to intimate his Aadhaar number, will intimate his Aadhaar number to the primary director general of earnings tax (systems) or DGIT (systems)”.
It delegated primary DGIT (systems) or DGIT (systems) with defining the formats and requirements along with treatment for confirmation of files submitted with PAN application or intimation of Aadhaar number.
The guidelines will enter force from July 1, 2017, the profits department stated while modifying Rule 114 of the I-T Act, which handles application for allocation of PAN.
As numerous as 2.07 crore taxpayers have actually currently connected their Aadhaar with PAN.
There are over 25 crore PAN card holders in the nation while Aadhaar has actually been released to 111 crore individuals.
Previously this month, the Supreme Court had actually promoted the credibility of an I-T Act arrangement making Aadhaar necessary for allocation of PAN cards and ITR filing, however had actually put a partial remain on its execution till a Constitution bench resolved the problem of right to personal privacy.
Pursuant to this, the Central Board of Direct Taxes (CBDT) had stated the connecting of Aadhaar and PAN will be a “need to” for filing of tax return (ITR) and getting PAN from July 1.
While Aadhaar is a biometric authentication provided by the UIDAI, PAN is a 10-digit alphanumeric number alloted by the I-T department to entities and people.