Aadhaar and PAN card Linkage
The Income Tax (IT) Department extended the last dates of Income Tax Return (ITR) and Linking Aadhaar with Permanent Account Number (PAN) of tax payers.
The Central Board of Direct Taxes (CBDT) and the Revenue Department, in a statement, said the extension of the deadline was due to the difficulty faced by the Tax payers. On Monday morning, incometaxindiaefilling.gov.in portal slowed down by making it difficult for taxpayers to Link Aadhaar, PAN and ITR.
The main reason for failure is because of last minute ’rush and panic’. Hence the date for linking got extended to August 31st.If PAN card is not linked to Aadhaar card, it will make it Invalid because it has to be quoted in all banking /financial transactions.Check out How to Link Aadhaar and PAN in easy steps.
For the e-filling return, it would be enough to quote Aadhaar or acknowledgment number for having applied for Aadhaar in the e-filling website. The last date for the return can be filed up to August 5th.
As per Supreme Court, those who do not have Aadhaar need not worry as of now. Your PAN will not be cancelled in such case under the I-T Act. For those who have Aadhaar and PAN is better to link as early as possible. Naveen Wadhwa, deputy general manager-R&D, at Taxmann, a service provider to taxpayers. Said, “Taxpayers, especially married women, are facing difficulty in linking their PAN with Aadhaar,”
The department has also asked taxpayers to declare cash deposits made in bank accounts aggregating to ₹ 2 lakh or more, post demonetization between November 9-December 30 last, in the ITRs.
However, with the linking of PAN card and Aadhaar, the whole process of verification doesn’t take much time. In the case where the there are no server problems will not take more than 20 seconds.