New Delhi: The Income Tax Department has mentioned that if the Permanent Account Number (PAN) shouldn’t be linked to Aadhaar by 31 March 2020, it’ll change into inactive. The deadline for including PAN and Aadhaar has been prolonged a number of occasions and the present deadline will expire on 31 March 2020. According to the division, 30.75 crore PANs have already been linked to Aadhaar by 27 January 2020. However, 17.58 crore PANs are but to be linked to the 12-digit Aadhaar.
The Central Board of Direct Taxes (CBDT) mentioned that an individual who has been allotted PAN by July 1, 2017, is knowledgeable of his foundation below sub-section (2) of part 139AA of the Income Tax Act by 31 March 2020. Have to provide. <! –
If not, the corresponding PAN will change into inactive after that. According to Section 139AA (2) of the Income Tax Act, by July 1, 2017, individuals who have PAN and are eligible to take Aadhaar, they should inform the tax authority concerning the Aadhaar quantity.
This work should be executed after 31 March 2020
It has been mentioned within the notification that folks whose PAN will change into inactive, should bear the implications below the Income Tax Act for not giving data. According to the division, individuals who join PAN with Aadhaar after March 31, 2020, shall be operational after giving details about Aadhaar quantity.