The Finance Act, 2017 had inserted a brand new part 139AA within the Revenue Tax Act, 1961, whereby each one who is eligible to acquire Aadhaar, has to submit his/her earnings whereas making use of for PAN or furnishing the return of earnings with impact from 1st July, 2017. Aadhar quantity is required to be quoted. In accordance with the official web site of Revenue Tax India.
If an individual doesn’t have Aadhar quantity however has utilized for Aadhar card then he can quote Enrollment ID of Aadhar utility kind in ITR.
Part 139AA additional supplies that each one who has been allotted PAN as on 1st July, 2017 and who’s eligible to acquire an Aadhaar quantity, shall furnish his Aadhaar quantity on or earlier than the date notified on 31-03-2022. Will inform. Revenue tax division. In case of failure to speak the Aadhaar quantity, the PAN allotted to the person shall be deactivated after the date so notified.
CBDT has notified that each one outcomes offered underneath the Revenue Tax Act for non-submission, intimation or quoting of PAN shall be efficient from 01-04-2023 if PAN turns into inoperative on account of non-linking of Aadhaar . Nonetheless, as per Revenue Tax India web site, if PAN is linked with Aadhaar from 01-04-2022 to 31-03-2023, the taxpayer is liable to pay price underneath part 234H.
1. Easy methods to hyperlink Aadhaar quantity with PAN utilizing e-filing portal?
The taxpayer is required to log in to the e-filing portal utilizing his/her registered username and password. After logging in, they’ll get “Hyperlink Aadhaar” possibility underneath their ‘Profile Settings’. If the taxpayer’s identify and date of start are similar as Aadhaar and PAN then Aadhaar quantity shall be linked with PAN.
2. What’s the price for omission with regard to data of Aadhaar quantity?
The Finance Act, 2021 has inserted a brand new part 234H to levy fees for default in reporting of Aadhaar quantity. If any individual is required to furnish his Aadhaar underneath part 139AA and such individual fails to take action, he shall be liable to pay a price, as could also be prescribed, not exceeding Rs. 1,000 on the time of giving such data.
Subsequently, if the person fails to hyperlink PAN-Aadhaar by the due date, he/she shall be liable to pay a price, topic to a most of Rs. 1,000. This price shall be along with the opposite penalties that a person could face if PAN turns into inoperative on account of non-intimation of Aadhaar.
CBDT vide Notification No. 17/2022, dated 29-03-2022 has amended Rule 114 to prescribe the price to be levied if Aadhaar is just not linked with PAN. As per Rule 114(5A), if an individual informs his Aadhaar quantity after the due date, he shall be liable to pay the price:
One. Rupee. 500, if such intimation is made between 01-04-2022 and 30-06-2022; And
b. Rupee. 1,000, in all different instances
3. Easy methods to hyperlink Aadhaar quantity with PAN utilizing SMS facility?
Taxpayers who want to hyperlink their Aadhaar quantity with PAN, have to ship SMS to 567678 or 56161 within the following format:
Instance of SMS to 567678 or 56161:
UIDPAN 111122223333 AAAPA9999Q
If the taxpayer’s identify and date of start are similar as Aadhaar and PAN, then Aadhaar quantity shall be linked with PAN.
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Story First revealed: Tuesday, August 16, 2022, 14:52 [IST]