A Comprehensive Overview of the Permanent Account Number (PAN) and Aadhaar, their Importance, Linking Requirements, and Related Procedures.
What is PAN? Permanent Account Number (PAN) is a unique ten-digit alphanumeric identifier issued by the Income Tax Department of India for tax and financial identification purposes. PAN remains valid for a lifetime unless formally canceled. Legal Provisions Section 139A – Income Tax Act, 1961 Authorizes the Central Government to allot PAN to any “person” […]
Permanent Account Number [Section 139A And Rule 114] Read More »
Here’s a detailed analysis of Section 139AA of the Income Tax Act, 1961, which mandates the quoting and linking of Aadhaar numbers with PAN for tax-related purposes: 1. Overview of Section 139AA Introduced via the Finance Act, 2017, Section 139AA requires: Mandatory Aadhaar-PAN linkagefor eligible individuals. Quoting Aadhaarin PAN applications and income tax returns (ITRs). Objective: To curb tax evasion,
Quoting and Linking of Aadhaar Numbers with PAN [Section 139AA] Read More »
