PAN not linked to Aadhaar card will become invalid from September



The government will invalidate all PAN cards that are not linked to Aadhaar by September 1. At the moment 180 out of the existing 400 million PAN cards are not linked to Aadhaar.

To validate and continue using the existing PAN cards, citizens will have to link them to Aadhaar. Or else, they will be permitted to use Aadhaar instead for filing returns and while making other high-value transactions, specified under the Income Tax Act. 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. This is how the Aadhaar-PAN linkage, proposed in the Finance Bill, 2019 will be rolled out.

The Budget fine print also reveals the amended I-T Act would put the onus on the person receiving any document relating to specified high-value transactions or tax returns, to ensure that the PAN or the Aadhaar number are duly quoted, and as importantly “authenticated”.
Read Complete Article

Comments

Popular posts from this blog

Infinix Smart 2 review: 'Value for money' smartphone with tall 18:9 screen

Year in review: From OnePlus to Asus, best midrange flagship phones of 2019

OnePlus 8 review: Meaningful innovations elevate experience, justify price