Quoting Aadhaar made mandatory for submitting income tax returns (ITR) from this month. five things to know

For all income tax returns filed from this month, it's far now mandatory to cite your Aadhaar quantity without which the ITR will now not be processed by means of the income Tax department. according to a new order issued by the Central Board of Direct Taxes (CBDT), the policies came into effect from April

The order worries all taxpayers who need to document income tax returns for the final economic yr 2018-19, the ultimate date for that's July 31. it's also obligatory to link PAN with Aadhaar card however the deadline has been prolonged through another six months to September 30

5 things to recognize about the brand new Aadhaar rule for filing ITR:

1. In September 2018, the supreme court had upheld the constitutional validity of Aadhaar and also that of phase 139 AA (2) of the incomeTax Act, which states that all of us who is eligible to reap Aadhaar range will quote it whilst making use of for PAN card in addition to even as filing ITR. “accordingly, returns being filed both electronically or manually can't be filed with out quoting the Aadhaar wide variety,” the March 31 circular stated.

2. The order, however, presents comfort to all people who filed ITR before April 1 without quoting Aadhaar quantity. The order stated such returns would be processed with none difficulty being raised as to non-quoting of Aadhaar.

3. “In its force to push Aadhaar as an anti-evasion measure, the CBDT has mandated the taxpayers who want to report their go back on or after 1st April would want to quote Aadhaar in their returns even though the deadline for linking of Aadhar with PAN has been extended until 30th September, 2019,” Sandeep Sehgal, Director of Tax and Regulatory at Ashok Maheshwary & associates LLP, said. He stated the circulate will similarly empower the tax branch to collect and corroborate the info from diverse assets.

4. In step with the rules, if a tax payer is yet to get Aadhaar variety, then he or she will offer the enrollment identity of Aadhaar utility shape issued to him at the time of enrollment.

5. From October, quoting Aadhaar quantity will no longer be sufficient for tax payers as it's far mandatory for all those having PAN card to link it with Aadhaar by way of September 30. For the 6th time in a row, the authorities has extended the closing date for individuals to hyperlink their everlasting Account wide variety (PAN) with Aadhaar. The final deadline was to expire on March 31.

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