The Income Tax department has notified that 31st August 2017 is the last date to link Aadhar with PAN for all taxpayers and the deadline won’t be extended anymore. Thus, the taxpayers must ensure that their Aadhar number has been linked with their own PAN number in order to get their IRT (income tax returns) proceeded.
It means without Aadhar and PAN linkage, your Income Tax Return will not be evaluated and preceded and you will be devoid of its benefits.
According to experts in the field of taxation, if the ITR is not taken for proceeding, it would be treated that you have not filed any returns for 2016-17 financial year. Hence, you may face the outcomes of not filling ITR for the mentioned period.
In such case, Income Tax Department may send you a notice to file ITR under IT section 142(1) and a penalty of Rs 5,000 would be imposed for not filing ITR on time. For ITR not filed, you can’t claim any losses in further processes. Finally, there will definitely not any return you can claim under ITR for 2016-17 financial years.
Thus, it is advised all the taxpayers that their Aadhar number and PAN number must be linked by 31st August 2017 by 11:59 pm.
Online as well as offline platforms are available to link these two important information. One of the best online platforms is the website of Income Tax Department of India. On your mobile phone also, you can link these two. Kindly, ensure that your phone number is registered with you Aadhar or PAN already.