Fresh PAN Card if you file tax returns with Aadhaar
Fresh PAN Card if you file tax returns with Aadhaar
After the announcement of Union Budget 2019-20 by Finance Minister Nirmala Sitharaman, interchangeability of PAN and Aadhaar is now allowed. CBDT chairman Pramod Chandra Mody said, "The Income Tax department will allot fresh PAN to a person who files IT returns with only Aadhaar, after the Budget proposed that only the biometric ID was sufficient for tax purposes.
He said, “In cases where Aadhaar is being quoted and PAN is not there, we could possibly think on the terms of allotting a PAN to the person filing income tax return."
The assessing officer of the department can use his powers to allot PAN to an entity. What this means is that “The law provides that the assessing officer can also allot PAN. So, if Aadhaar is being quoted without PAN, We will allot the PAN. It becomes linked,”
This is the first budget of the second term of Narendra Modi government. Union Finance Minister Nirmala Sitharaman proposed to make the PAN card and Aadhaar interchangeable, effectively allowing those not having PAN Card to file income tax returns by quoting their Aadhaar number. This proposal comes into effect on September 1. Presently, it is mandatory for a person to quote a PAN number while filing resturns.
The interchangeability of the two databases, one PAN Card and second Aadhar Card acts as an “additional facility” to ensure their linkage, currently mandatory under the law.
If the taxpayer is not quoting PAN and only has Aadhaar, his filing and processes do not get affected.”
Aadhaar Card in India is issued by the Unique Identification Authority of India (UIDAI) to a resident citizen of the Country and PAN is a 10-digit alphanumeric number allotted by the Income tax department to a person, firm or entity.