DEADLINE FOR LINKING PAN TO AADHAAR MOVED TO MARCH 31

New Delhi: The income-tax (I-T) department on Friday extended the deadline for mandatory linking of Aadhaar with permanent account numbers (PAN) to March 31, 2018.

The earlier deadline was December 31. This is the third time the tax department has extended the date since the first deadline of July 31.

“It has come to notice that some of the taxpayers have not yet completed the linking of PAN with Aadhaar. Therefore, to facilitate the process of linking, it has been decided to further extend the time for linking of Aadhaar with PAN till 31.03.2018,” the tax department said in a statement.

Linking of Aadhaar with PAN was made mandatory earlier this year as per the provisions introduced in the Finance Act 2017. The extension is in line with the central government’s stand in the Supreme Court on Thursday wherein it said that it would extend the deadline for linking PAN and bank accounts with Aadhaar until March.

The Supreme Court on Thursday ordered the setting up of a five-judge constitution bench next week to hear pleas seeking an interim stay on the centre’s decision on mandatory linking of Aadhaar to avail benefits of various services and welfare schemes.

The linkage of Aadhaar with PAN was envisaged to curb tax evasion. Linking of PAN with Aadhaar will help in weeding out multiple PANS held by one individual. Also, with Aadhaar being linked to bank accounts and other financial transactions, the I-T department will find it easier to curb tax evasion.