PAN to turn out to be inoperative after 31 March if not linked with Aadhaar, says Revenue Tax dept; 17.58 crore PANs in danger
New Delhi: Everlasting Account Quantity (PAN) will turn out to be inoperative if it’s not linked with Aadhaar by 31 March, 2020, the Revenue Tax division has mentioned.
The deadline for linking of PAN and Aadhar has been prolonged a number of occasions and the present deadline ends on 31 March, 2020.
Until 27 January, 2020, over 30.75 crore PANs have already been linked to Aadhaar. Nevertheless, 17.58 crore PANs are but to be linked with the 12-digit biometric ID.
“Where a person, who has been allotted the permanent account number as on 1 July, 2017 and is required to intimate his Aadhaar number under sub-section (2) of section 139AA, has failed to intimate the same on or before March 31, 2020, the permanent account number of such person shall become inoperative immediately after the said date for the purposes of furnishing, intimating or quoting under the Act,” the Central Board of Direct Taxes (CBDT) mentioned.
Via a notification, the CBDT amended Revenue Tax guidelines and inserted Rule 114AAA, stipulating the “manner of making permanent account number inoperative”.
The notification additional mentioned that individuals whose PANs turn out to be inoperative shall be responsible for all the implications beneath the I-T Act for not furnishing, intimating or quoting the everlasting account quantity.
For these linking PAN with Aadhaar after March 31, 2020, the I-T division mentioned it shall “become operative from the date of intimation of Aadhaar number”.
Part 139 AA (2) of the Revenue Tax Act says that each particular person having PAN as on July 1, 2017, and eligible to acquire Aadhaar, should intimate his Aadhaar quantity to the tax authorities.
The Supreme Courtroom had in September 2018 declared Aadhaar as constitutionally legitimate and held that the biometric ID would stay necessary for the submitting of revenue tax returns and allotment of PAN playing cards.
Aadhaar is issued by the Distinctive Identification Authority of India, or UIDAI, to a resident of India and PAN is a 10-digit alphanumeric quantity allotted by the revenue tax division to an individual, agency or entity.
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