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PAN To Be Cancelled If Not Seeded With Aadhaar In Time: Hasmukh Adhia
Your PAN may be cancelled if you do not link it with aadhaar as government is about to notify the deadline for it.
The revenue secretary Hasmukh Adhia says that the deadline for linking or seeding PAN and Aadhaar shall be notified soon and in a case when you fail to do so within the stipulated timeframe, your PAN shall be cancelled.
In the Finance Bill for the year 2017-18, Arun Jaitley had provided for an amendment which calls for the mandatory quoting of Aadhaar while filing tax returns. Also, the amendment provides for the mandatory seeding of PAN with Aadhaar to check for tax evasion practices by making use of multiple PAN cards
The Supreme Court maintained the validity of the provisions of Income Tax Act that makes Aadhaar mandatory both for obtaining new Permanent Account Number or PAN and for income tax return filing.
As many as 2 crore taxpayers have already seeded their PAN and Aadhaar details. While as of now there are 111 crore individuals with aadhaar and 25 crore PAN card holders.
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