ADVERTISEMENT

Last Date To Link PAN Card With Aadhaar Extended For Eighth Time: 10 Points

Income tax assessees can now file their returns by furnishing Aadhaar instead of PAN
Income tax assessees can now file their returns by furnishing Aadhaar instead of PAN
  1. "The due date for linking of PAN with Aadhaar as specified under sub-section 2 of Section 139AA of the Income-tax Act,1961 has been extended from 31st December, 2019 to 31st March, 2020. Notification no.107 of 2019 dated 30/12/2019 issued by CBDT," said the Income Tax Department.
  2. It is now mandatory to link the two personal identification numbers for carrying out income tax-related tasks such as filing of returns. (Also Read: How To Link PAN With Aadhaar)
  3. According to Section 139 AA (2) of the Income Tax Act, every person having a PAN on July 1, 2017 and eligible to obtain Aadhaar must intimate the Aadhaar number to tax authorities. 
  4. The Income Tax Department has said that failing to link PAN with Aadhaar within the due date will lead to PAN becoming inoperative.
  5. Before Monday's announcement, the government had already extended the last date for the mandatory linking of the two identification numbers seven times in the past. 
  6. The last extension was in September this year, when it had pushed the last date by three months to December 31. (Also read: Aadhaar, PAN Card Steps To Expand Tax Base, Say Experts | Aadhaar Can Be Used For Cash Transactions Above Rs. 50,000)
  7. The Supreme Court had in September 2018 declared the government's flagship Aadhaar scheme as constitutionally valid and held that quoting of the Unique Identity Number (UID) would remain mandatory for filing of income tax returns and allotment of PAN. (Also Read: Top Court Asks If Centre Plans Aadhaar Verification For Social Media)
  8. In the first Budget of Prime Minister Narendra Modi's second term, the government allowed interchangeability of Aadhaar with PAN under income tax rules. (Also read: Aadhaar Compulsory For New Dealers From January 2020, Says GST Network)
  9. Assessees can now file their income tax returns by furnishing Aadhaar instead of PAN. However, in such cases, the PAN is generated automatically, according to the taxman
  10. Issued by the Income Tax Department, PAN is a 10-character alphanumeric personal identification number that enables the taxman to link financial transactions with individuals. Aadhaar is a 12-digit identification issued by the Unique Identification Authority of India (UIDAI)