Taxpayers have less than a week to link Aadhaar with PAN
From July 1, quoting Aadhaar, issued by the Unique Identification Authority of India (UIDAI) is mandatory for obtaining PAN and filing tax returns.business Updated: Jun 27, 2017 10:00 IST
Pressure is mounting on income tax assessees to link their Aadhaar with permanent account numbers (PAN) as the voluntary compliance period for the requirement introduced in this year’s budget ends Friday.
From July 1, quoting Aadhaar, the 12-digit identification number issued by the Unique Identification Authority of India (UIDAI) is mandatory for obtaining PAN and filing tax returns.
Biometrics identification enabled by Aadhaar proves the identity of the PAN holder and helps tax authorities crack down on multiple PANs held by the same person with the idea of evasion.
According to an official of the tax department, who spoke on condition of anonymity, India had about 50 million people who file income tax returns, and about 65 million who paid income tax as of the end of March 31, 2017. This is a significant improvement over the 39 million people who filed income tax returns for the 2013-14 financial year.