Aadhaar-PAN linking must from July 1 onwords, Govt notifies rules

Posted by Daily Shipping Times on 30-06-2017        Tweet

NEW DELHI: From July 1 onwards the Government's new measure to check tax evasion through multiple pan cards will come into effect. 

The new step is linking of Aadhaar card with PAN card.

The Government has made quoting of the 12-digit biometric Aadhaar or the enrolment ID a must at the time of application of permanent account number (PAN).

Finance Minister Arun Jaitley through an amendment to tax proposals in the Finance Bill for 2017-18 had made Aadhaar mandatory for filing income tax returns and provided for linking of PAN with Aadhaar to check tax evasion through use of multiple PAN cards.

The Revenue Department said "every person who has been allotted PAN as on July 1, 2017, and who in accordance with the provisions of sub-section (2) of section 139AA is required to intimate his Aadhaar number, shall intimate his Aadhaar number to the Principal Director General of Income Tax (systems) or DGIT (systems)".

The rules will come into force from July 1, 2017, the Revenue Department said while amending Rule 114 of the I-T Act, which deals in application for allotment of PAN.

As many as 2.07 crore taxpayers have already linked their Aadhaar with PAN.

Aadhar may replace PAN card Finance Minister Arun Jaitley has hinted that the Aadhar card may replace PAN card in the future.

"A stage may come when unique identity card (Aadhaar) may become the sole card. There are many countries where such a situation exists. There is a social security number in America and in India it (Aadhaar) could be the counterpart," Arun Jaitley had said.

It could be a possibility. The Government looks decisive to give Aadhar all the power by making it mandatory for PAN Card application and filing Income Tax Returns.