PAN-Aadhaar linking deadline extended till March 31, 2018
This is the third time the government has extended the deadline to link PAN with Aadhaar; the cut-off previously was July 31 but was extended to August 31 and later to December 31, 2017.india Updated: Dec 08, 2017 20:37 IST
The income-tax (I-T) department on Friday extended the deadline for mandatory linking of Aadhaar with permanent account numbers (PAN) to 31 March 2018.
The earlier deadline was 31 December. This is the third time the tax department has extended the date since the first deadline of 31 July.
“It has come to notice that some of the taxpayers have not yet completed the linking of PAN with Aadhaar. Therefore, to facilitate the process of linking, it has been decided to further extend the time for linking of Aadhaar with PAN till 31.03.2018,” the tax department said in a statement.
Linking of Aadhaar with PAN was made mandatory earlier this year as per the provisions introduced in the Finance Act 2017.
Besides PAN, bank accounts and mobile SIM cards also have to be linked with Aadhaar by 31 December and 6 February, respectively.
The extension is in line with the central government’s stand in the Supreme Court on Thursday wherein it said that it would extend the deadline for linking PAN and bank accounts with Aadhaar until March.
The Supreme Court on Thursday ordered the setting up of a five-judge constitution bench next week to hear pleas seeking an interim stay on the centre’s decision on mandatory linking of Aadhaar to avail benefits of various services and welfare schemes.
The linkage of Aadhaar with PAN was envisaged to curb tax evasion. Linking of PAN with Aadhaar will help in weeding out multiple PANs held by one individual.
Also, with Aadhaar being linked to bank accounts and other financial transactions, the I-T department will find it easier to curb tax evasion.
B.M. Singh, former chairman of the Central Board of Direct Taxes, said these linkages mean all databases must be protected from hacking.