PAN card to be cancelled if not linked with Aadhaar till August 31

The deadline for interlinking of Aadhaar and PAN linking has been extended till August 31. The government oannounced the extension in deadline. The Central Board of Direct Taxes (CBDT) has also announced that

Income Tax Return (ITR) will be processed after after Aadhar-PAN linking.

Actual linking of PAN with Aadhaar can be done subsequently, but any time before 31st August, 2017, announced Ministry of Finance.

Talking to CNBC TV18, Revenue Secretary Hasmukh Adhia said that PAN card will be cancelled if it’s not linked with Aadhaar till August 31.

Earlier in the day, government extended the deadline for filing Income Tax Returns (ITRs) till August 5.

The official twitter handle of the department said the move was made “in view of difficulties faced by taxpayers.”

A senior official of the department said the decision to extend the deadline ending today was taken after a meeting of the revenue department and the Central Board of Direct Taxes (CBDT) was held in the finance ministry today.

The last minute inundation and heavy logging on the official website of the e-filing portal of the department led to the extension of five more days for filing the ITRs by taxpayers.

The department, till yesterday, however had maintained that no extension would be given as already over 2 crore returns have been received and no major glitches on the portal had been detected.

But, the situation changed today and the extension was declared.

This time, the linking of the Aadhaar number with the PAN (Permanent Account Number) of a taxpayer has been made mandatory for filing of an ITR, beginning July 1.

The department has also asked taxpayers to declare cash deposits made in bank accounts aggregating to Rs 2 lakh or more, post demonetisation between November 9-December 30 last year, in the ITRs.

The ITRs to be filed by July 31 pertain to 2016-17 fiscal or assessment year 2017-18.