In a
relief to taxpayers, the Central Board of Indirect Taxes has extended the
deadline to link PAN with Aadhaar to December 31, 2019. Earlier, the last date
was September 30, 2019. This notification is issued for the taxpayers who have
not linked their PAN with their Aadhaar. As per the Tax Administration, the PAN
which will not be linked with the Aadhaar by 31.12.019 shall become inoperative
and therefore, it cannot be used for any financial transaction. However, the
government is yet to notify the implications of inoperative in case PAN is not
linked with Aadhaar.
"The
CBDT granted another 3 months extension to link the Aadhaar with PAN. As per
the recent amendment by the Finance (No. 2) Act, 2019, if a taxpayer does not
link his PAN with Aadhaar number by the due date then the PAN of the taxpayer
shall be deemed to be inoperative. A taxpayer will not be able to quote his PAN
if it becomes inoperative. The dept. has not yet prescribed how an inoperative
PAN shall be made operative again. Thus, to avoid any inconvenience which may
cause to the taxpayer, the board has extended the cut-off date, says CA Naveen
Wadwa.
If the
individual's PAN becomes 'inoperative' it will be treated as if the
person is not holding the PAN and he would be not entitled to conduct and
financial transactions where it is mandatory to enter the PAN details.
How to
link PAN with Aadhaar?
In the
last Union Budget in July 2019, the government has proposed a law making
necessary for every individual to link PAN with Aadhaar while filing income tax return online. Here are
three ways to link your PAN with Aadhaar-
As per
the income tax department, you can link PAN with Aadhaar by using either online
mode or through SMS service-
Link
Aadhaar with PAN through income tax e-filing website
To link
a PAN with Aadhaar online, the assessee is required to log in to the e-filing portal,
according to the Income Tax Department.
Link
Aadhaar with PAN through SMS service
The
Income Tax Department also provides an SMS-based facility to enable the linking
of Aadhaar with PAN online.
Thus,
every individual must link the PAN with the Aadhaar. As section 139 AA (2) of
the Income Tax Act, every person having PAN as on July 1, 2017, must intimate
his or her Aadhaar number to tax authorities. Moreover, Aadhaar linked with PAN
enables taxpayers to verify their returns through OTP sent to their phone
number at the time of ITR Filing.
Meanwhile, this is the seventh time that the government has prolonged the
deadline for individuals to link their PAN with Aadhaar.
For more
details about efiling of income tax
return online visit our website: https://www.allindiaitr.com
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