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If you need tax incentives, don’t wait until the last day

On Friday, the Direct Tax Central Commission (CBDT) announced that it would extend the deadline for the PAN-Aadhaar link again. The central government extension will take place shortly after the recent extension of the PAN-Aadhaar link deadline, which was extended until September 30, 2021. As we approached that deadline, the CBDT under the Treasury issued a statement that the Revenue Department would notify taxpayers of yet another extension.

In a statement released by CBDT, the expansion will be in the light of the Covid-19 pandemic and concerns about its progress. New deadlines have been introduced to alleviate these concerns and provide more time for compliance.

“The central government continues its commitment to address the challenges faced by various stakeholders due to the Covid-19 pandemic, and is based on income tax, taking into account the statements received from the various stakeholders. We have decided to extend the compliance timeline. Law, 1961, “said the CBDT in an official statement.

Government agencies have described cases where this practice applies, elaborated on the extension of the deadline, and stated: Until March 31, 2022. “

We were also informed that the deadline for completing fines under the Income Tax Act of 1961 was extended from September 30, 2020 to March 31, 2022.

“In addition, the deadline for issuing notices and passing orders by arbitrage bodies under the Benami Property Transactions Ban Act of 1988 has been extended to March 31, 2022,” added CBDT.

Sujit Bangar, founder of Taxbuddy.com, commented on the extension of the link deadline for PAN Aadhaar, saying: “The link deadline for PAN and Aadhar has been extended, but we recommend that you complete this link as soon as possible. The PAN-Aadhar collaboration has many benefits, including early receipt of refunds.”

Link PAN to Aadhaar

There are two ways to link your PAN to your Aadhaar card. One way is via SMS and the other is through the official portal of the Income Tax Office.

Link via SMS

Step 1: Send an SMS to number 567678 or 56161. The format must be a UIDPAN (space) 12-digit Aadhaar card number (space) 10-digit PAN card number.

Step 2: You will receive an SMS to update the link status of PAN-Aadhaar. Please note that it will only be linked if the taxpayer’s date of birth is the same for both Aadhaar and PAN.

Link via Income Tax Bureau Portal

Step 1: Go to the IT department’s electronic filing portal (www.incometaxindiaefiling.gov.in).

Step 2:[クイックリンク]In the section, on the left side of the web page[リンクAadhaar]Click.

Step 3: Go to a new page where you will need to enter other required details such as your PAN number, Aadhaar number, and the name on your Aadhaar card.

Step 4: Check the box only if the Aadhaar card has a date of birth.

Step 6: If you agree, mark “I agree to use UIDAI to validate Aadhaar details.”

Step 7: The capture code will be sent and you will need to enter it.

Step 8: The last step is[LinkAadhaar]Click the button to submit your request.

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If you need tax incentives, don’t wait until the last day

Source link If you need tax incentives, don’t wait until the last day

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