sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
General »
 Interest income from an NRO account is fully taxable in India
 Income tax payers filing appeals before ITAT will have to provide information relating to the amount locked up in dispute
 GST, infrastructure status drive PE investments in warehousing
 Taxman should move towards limited scrutiny
  Government likely to withdraw tax notice on free banking services
 GST Council may bring natural gas, aviation turbine fuel under its purview at next meeting
 IT department cautions TDS deductors against quarterly filing default
 The notification said start-ups approved by an inter-ministerial panel are exempted from the tax which is levied on firms issuing shares to investors above their fair value, treating it as income from other sources
 Why you need to sort out your tax-residency status
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004

Filing income tax returns is not enough, you need to link Aadhaar with PAN before deadline ends
August, 31st 2017

Aadhaar and PAN need to be linked despite the Supreme Court's decision that the Right to Privacy is a fundamental right. The government had made linking Aadhaar with PAN mandatory, but because the Aadhaar debate is based around right to privacy, we do not know if there could be a change in policy of linking the two in the future. This will, of course, depend on the verdict of the three-judge bench who will decide on whether Aadhaar breaches right to privacy.

For now, tax payers will have to link their Aadhaar to their PAN, and the last date to do so is August 31, according to Central Board of Direct Taxes (CBDT). Also, UIDAI CEO Ajay Bhushan had clarified that the "taxpayers will have to link their PAN with Aadhaar by the stipulated deadline, which is 31st August, as the Supreme Court verdict on privacy has no bearing on the requirement."

The deadline had been extended from July 31 to August 31 after many tax payers could not link the two documents due to difference in names. It is not yet confirmed what will be the exact implication of not linking the Aadhaar with PAN. But the Income Tax Department may not process your ITR, which means that even if you have filed your tax returns, it may be considered void.

"For the purpose of e-filing return, it would be sufficient as of now to quote Aadhaar or acknowledgement No. for having applied for Aadhaar in e-filing website. The actual linking of PAN with Aadhaar can be done subsequently, but any time before 31st August, 2017. However, the returns will not be processed until the linkage of Aadhaar with PAN is done," the Income Tax Department had said. This essentially means if the ITR is not processed, tax payer will not get the income tax refunds.

Meanwhile, the Supreme Court on Wednesday said it would hear a batch of petitions on Aadhaar-related matters in November after the Centre informed that it will extend till December 31 the deadline to furnish Aaadhar to avail benefits of social welfare schemes, the PTI reported. There is no word yet on the issue of linking Aadhaar with PAN from the Supreme Court. So, unless it passes an interim order saying it's not mandatory to link Aadhaar with PAN, tax payers will have to link the two.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions