Economy

Deadline for linking Aadhaar to PAN extended till Dec 31

Deadline for linking Aadhaar to PAN extended till Dec 31”

The government on Thursday extended the deadline for linking Aadhaar to PAN by four more months till December 31, 2017. On July 1, the Centre had made it compulsory for all taxpayers to link both the unique identification numbers for filing income tax returns.

Experts are of the opinion that the extension given is in line with the ongoing petition in the Supreme Court with reference to making Aadhaar mandatory for availing different incentives and subsidies from the government.

"The "due-date" for filing Income Tax Returns and various reports of audit prescribed under the Income-tax Act, 1961, has been extended from 30th September, 2017, to 31st October, 2017, for all taxpayers who were liable to file their Income Tax Returns by 30th September, 2017", the statement added.

However, those categorised as non-resident Indians as per the Income Tax laws, people who are not citizens of India, those above 80 years of age and residents of the states of Assam, Meghalaya and Jammu and Kashmir had been exempt from the requirement. Why link Aadhaar with PAN " If this linking (PAN-Aadhaar) is skipped, the return could be considered invalid and the person may have to file it again which shall be considered belated and may attract penalty, interest and other consequences like disallowances for losses", says Sandeep Sehgal, director of tax and regulatory at Ashok Maheshwary & Associates LLP. December 31 is also the last day to link Aadhaar with bank accounts.

The deadline for linking PAN with Aadhaar previously was July 31 but was extended to August 31. Tax filers, however, were allowed to file their annual income returns by August 5 without linking their Aadhaar with PAN. They were required to simply quote the Aadhaar or the acknowledgement number as proof that they had applied for the unique identification card. "Aadhaar was to be linked with PAN by 31st August, 2017".



Like this

loading...
loading...

Latest


01 September 2017
What happens in the brain to make us 'catch' yawns
The researchers also found that the urge to yawn - our propensity for contagious yawning - is individual to each one of us. Now scientists investigating contagious yawning claim to have discovered what causes us to behave in this fashion.

01 September 2017
Rothschild Investment Corp IL Has $4.15 Million Stake in Intel Corporation
Water Island Capital Ltd Liability Corporation holds 0.05% of its portfolio in Intel Corporation (NASDAQ:INTC) for 21,959 shares. Also, CFO Robert Holmes Swan purchased 13,888 shares of the company's stock in a transaction that occurred on Monday, June 5th.

01 September 2017
Lotte to Invest Additional $300 Million into Chinese Operations
The funds will come through Lotte Shopping Holdings in Hong Kong, which owns the Lotte Mart China corporation. Lotte Mart is estimated to have suffered some 500 billion won ($444 million) in losses since March so far.

01 September 2017
Nurse arrested for refusing to draw blood from unconscious patient
On Thursday, Wubbels held a press conference with her attorney Karra Porter, calling for the police to be better trained. Brandon Shearer said an internal investigation is ongoing. "I don't know what was driving this situation".

01 September 2017
Tearful Houston police chief confirms officer's death in Harvey flooding
Emergency services have received about 6,000 calls for emergencies and rescues, he said during a televised media briefing Monday. An investigation determined he had driven off an overpass that was 16.5 feet (5 meters) high, and drowned in the waters below.

01 September 2017
Harvey victim plays hauntingly handsome piano in flooded home
In the caption to the video posted on Instagram, Harding wrote he was "excited to see the new beauty in the suffering". He says many have told him it has helped them take a timeout from the chaos of the flooding.

01 September 2017
Winslow Capital Management Has Lowered By $26.48 Million Its Priceline Group (PCLN) Stake; HARRISON VICKERS & WATERMAN IN (HVCW) SI Decreased By 76.47%
Nbt National Bank N A NY stated it has 1.29% of its portfolio in Pfizer Inc. 141,611 are held by Schwab Charles Inv Mngmt Inc. Glen Harbor Capital Management LLC boosted its position in shares of The Priceline Group by 31.8% in the first quarter.

01 September 2017
Arrest made in 1999 murder of Topeka native
Investigators say it was set up to appear to be a suicide in her bathtub, but they determined it was a murder. They did not disclose additional details and the arrest warrant affidavit for Williams was sealed by a judge.

01 September 2017
BB&T Corporation (NYSE:BBT) Short Interest increased by 10.39% - Shares Trading Up
BidaskClub raised shares of BB&T Corporation from a "hold" rating to a "buy" rating in a research note on Tuesday, August 8th. Stewart & Patten Co Llc, which manages about $814.96M and $525.07M US Long portfolio, upped its stake in Mondelez Intl Inc.

01 September 2017
Kenya's top court to rule on validity of presidential election
The rejected votes will play a key role in deciding whether President Kenyatta met the threshold of 50 per cent plus one vote. The Supreme Court will deliver judgment on the presidential election petition filed by Nasa at 11am, the Judiciary has said.