Wednesday, 21 June 2017

Link PAN card with Aadhaar through SMS: Here is how you can do it

After initial hiccups, the government has made Aadhaar card an essential document for availing benefits of various socio-economic schemes. The Income Tax Department has also made Aadhaar mandatory for filing ITR and has given options to link Aadhaar with PAN. However, a Supreme Court decision on 9th June said that taxpayers who don’t have an Aadhaar card can also file ITR for some time. We think this decision is going to play a significant role in filing returns.
Saves your PAN from becoming invalid: As per the law, all PAN numbers which are not linked to Aadhaar card will become invalid soon. So linking PAN to Aadhaar will save from such an unpleasant situation. The Income Tax Department has given excellent facilities to link these identities.
However, in its 9th June 2017 decision, the Supreme Court said that PAN number without Aadhaar will not be invalidated for the time being. We suggest taxpayers to link these two, to be law compliant.
Makes you law compliant: As per Section 139AA of the IT Act, linking of Aadhaar to PAN is mandatory for filing income tax returns. All PAN holders are required to submit their Aadhaar number to the I-T department. Those applying for new PAN cards should also quote their Aadhaar. So by linking these two identities, you will comply with this law.
However, the PAN holders with no Aadhaar number will also be able to file returns as per the Supreme Court decision.

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