The Chairman of the Department of Direct Taxes of the Central Government of India, Nitin Gupta, has alerted that in case of failure to link an Aadhar Card with a PAN (Permanent Account Number – Income Tax) card will entail that the concerned citizens/organizations WILL NOT BE ABLE TO TAKE UP VARIOUS SAVING ACTIVITIES SUCH AS COMMERCIAL AND INCOME TAX RELATED ISSUES!
The Cereal Government has announced that the linking of Aadhar & PAN Cards must be completed before the last day of the current financial year – 31st March 2023!
THE CENTRAL GOVERNMENT HAS ANNOUNCED THAT THE PAN CARD WILL BECOME INVALID ON FAILING TO COMPLETE THE LINK OF Aadhar card pan card!
Presently, citizens/organizations linking PAN cards with Aadhar cards MUST pay a penalty of Rs. 1000/-!
The Commission for Direct Taxes undertakes the forming and declaration of policies for Income Tax related issues.
In this situation, the Chairman of the Direct Taxes Commission, Nitin Guipta has a session with the PTI reporters:
“Though 61 Crores PAN Cards have been issued, only 48 Crores citizens have completed linking Aadhar Card with PAN card! We trust that the out of the balance of 13 crore citizens, the concerned including those who have been exempted from the link WILL UNDERTAKE AND COMPLETE THE TASK OF LINKING their AADHAR CARD WITH a PAN CARD BEFORE THE STIPULATED DEADLINE OF 31ST MARCH!
A LARGE NUMBER OF CAMPS WERE ORGANIZED TO FACILITATE THIS TASK! Extension of time had been given many times! Further, the recent budget has announced that the PAN card will be deemed the General Public Identity!
The cadre of citizens who avail of the concessions on the commercial aspect of deals MUST LINK AADHAR CARD WITH PAN CARD BEFORE 31ST MARCH! OTHERWISE, THEIR PAN CRADS WILL BE INVALID AND THEY STAND TO LOSE ALL THE TAX CONCESSIONS!
VARIOUS ISSUES!
If the PAN card is rendered invalid, the Income Tax department may take legal action against the concerned individual. NOTE THAT INCOME TAX RETURNS CANNOT BE FILED WITH AN INVALID PAN CARD!
Further, the present procedure of filing will not function! The refund from the filed returns will not also be paid! The concessional tax on deductions will also be higher! Further, the citizens who have not linked their Aadhar & PAN cards experience various ordeals!
As per the announcement of the Central Ministry of Finance on May 2017, the residents of the States of Assam, Meghalaya and Jammu & Kashmir, Foreign Indian Residents, cititizens who have crossed 80 years of age in the previous year, and foreigners ARE ALL IN THE CADRE OF THOSE EXEMPTED FROM INCOME TAX.
A 12-digit Aadhar Card has been issued to all Indian Citizens/residents through the Unique Identification Authority of India. PAN Cards are issued by the Department of Income Tax.”