Tag: PAN

Link your PAN with Aadhaar by March-end to avoid Rs10,000 fine


The Income Tax department might impose a penalty of Rs 10,000 on those who don’t link their PAN card with Aadhaar card within the deadline of 31 March 2020. The I-T department had earlier said that un-linked PAN cards will become inoperative if not linked with Aadhaar by March 31. If the PAN card becomes […]

Govt can’t make PAN invalid if not linked to Aadhaar till SC judgement: Gujarat High Court


The Gujarat high court said a person’s Permanent Account Number (PAN) does not become invalid for filing income tax returns and making transactions just because it is not linked to their Aadhaar Card. The Gujarat High Court judgement states :“PAN of applicant shall not be declared inoperative and applicant would not be in default in […]

Due date to link PAN with Aadhaar extended to March 31, 2020


The Central Board of Direct Taxes (CBDT) has extended the due date for linking of permanent account number (PAN) with Aadhaar from 31st December, 2019 to 31st March, 2020. The earlier deadline was Tuesday, December 31. This is the third time the due date has been extended. Please follow and like us:

Quoting wrong PAN, Holding more than one PAN can attract a Rs. 10,000 fine


The income tax department may impose a penalty under section 272B of the Income Tax 1961 if anyone is found giving an incorrect PAN number. This provision is applicable when you are filing your income tax return (ITR) or in other cases where it is mandatory to quote PAN card number for carrying out specific […]

PAN will be generated automatically if a taxpayer uses Aadhaar for filing returns: CBDT


The Income Tax Department will automatically issue PAN to a taxpayer using Aadhaar number for filing returns as part of a new arrangement to link the two databases. According to a notification issued by the CBDT on August 30, a person who furnishes Aadhaar, as they do not have PAN, “shall be deemed” to have […]

Link your PAN with bank for refunds: Income Tax department to taxpayers


The Income Tax Department will “only” issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication. The department said refunds will be sent to bank accounts as it will issue “only e-refunds from March 1, 2019.” […]

New law to blacklist, non-filers of income tax returns mooted


The government is set to bring in a law that would black-list non-filers of income tax returns. Currently, the law does not provide for any stringent penalty for non-filers. The current provisions state that non-filers would not be eligible to apply for loans, tenders etc. The move to bring in a new law is aimed […]

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