Wednesday 28 June 2017

From July 1, Aadhaar 'must' for filing tax returns, obtaining new PAN

This means every person must quote either Aadhaar number or enrolment ID number for ITR, PAN card

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The Central Board of Direct Taxes (CBDT) on Saturday made it clear that Aadhaar will be a "must" for the filing of Income Tax Returns or for obtaining a new PAN from July 1.

The policy-making body of the Income Tax Filing Department issued a statement stating that the Supreme Court, on Friday, had only given a "partial relief" to those who do not have an Aadhaar or an Aadhaar enrolment ID, and the taxman, hence, will not "cancel" their Permanent Account Number (PAN).

The CBDT issued a three-point "effect of the judgement" of the apex court statement saying.
From July 1, 2017, onwards every person eligible to obtain Aadhaar must quote their Aadhaar number or their Aadhaar enrolment ID number for the filing of Income Tax Returns as well as for applications for PAN.

"Everyone who has been allotted permanent account number as on the 1st day of July 2017, and who has Aadhaar number or is eligible to obtain Aadhaar number, shall intimate his Aadhaar number to income tax authorities for the purpose of linking PAN with Aadhaar," it said.

It explained what will happen in a case of "non-compliance" or where a person does not possess Aadhaar....read more....

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