July 23, 2017
If you have not linked your PAN with Aadhaar yet, you are in the majority. Data released by the Ministry of Finance in the Lok Sabha on 21 July, 2017 reveals that only 25% of PAN card holders have linked their PAN with Aadhaar as on 17 July, 2017 as reported by the Times of India.
The ministry of finance also revealed that out of the 32.41 crore PAN cards in the country as on July 17, only 8.19 crore were linked with authenticated Aadhaar. Effective July 1, 2017 it has become mandatory for Indian citizens to link their PAN and Aadhar as per Section 139AA of the Income Tax Act.
Replying to another question in the lower house of the parliament, the ministry of finance further revealed that it had weeded out 11.46 lakh PAN cards once they found that same individuals were awarded multiple numbers. It also revealed that 1,544 PANs were marked as false as they were awarded to people who do not exist.
The Income Tax (IT) Department has been sending text messages to citizens asking them to link their Aadhaar with PAN as it is mandatory for filing income tax (IT) returns, the due date for which is 31 July for this year. Section 139AA of the IT Act states that tax payers who are eligible to obtain Aadhaar should quote it in their IT returns.
However, the Central Board of Direct Taxes (CBDT) has clarified in a notification that this section of the IT Act is not applicable to these individuals:
- Residents of Assam, Meghalaya and Jammu & Kashmir
- People aged 80 or above
- People classified as Non-resident Indians (NRIs) as per the IT Laws
You can read more about it here.