Supreme Court’s regulation to link Aadhar card with their PAN cards looks fruitless. The Supreme Court has made it mandatory.It is brought into force to file the Income Tax returns with Aadhaar card. And has further asked people to get it linked with their PAN cards before March 31. But the numbers are not rising.
The Supreme Court has made it mandatory to file the Income Tax returns with Aadhaar card and has asked people to get it linked with their PAN cards before March 31 but the numbers remains stagnant.
However, income tax payers must beware and should rush to carry out the process. Or else they will suffer it’s consequences. Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra, while addressing an Assocham event on Thursday. He said that only 23 crore PAN card holders have so far linked their cards with biometric ID Aadhar. Even as the deadline to link the two comes to an end on March 31, 2019. This means more than half of PAN card holders are yet to get their cards linked. They should definitely get it done as soon as possible.
Now, as per Chandra, all these people could be in big trouble as CBDT might even consider to cancel their PAN. “By linking with Aadhar, We will know whether there are any duplicate PANs or not. And there are certain duplicate PANs. If it is not linked, we may cancel the PAN also,” he warns.
Chandra said that once Aadhar is linked with PAN and PAN is linked with bank account, the IT department can find out spending pattern and other details of the assessee. He said that it will also be easier to gauge whether the benefits of welfare schemes are availed by eligible persons.