-The Times of India NEW DELHI: The government has made the Aadhaar card mandatory for opening bank accounts and conducting financial transactions of Rs 50,000 and above. Those with existing accounts will also have to submit their unique identification number by the end of December. Not disclosing it by December 31 will lead to suspension of the account. While the income tax department had earlier announced the decision to make Aadhaar mandatory for...
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Aadhaar must for I-T returns, PAN applications from July 1
-The Times of India NEW DELHI: The government said on Saturday that Filing Income Tax returns and applications for permanent account number or PAN cards will, from July 1, mandatorily require Aadhaar cards, or at least the applicant's enrolment number for the unique identity (UID). The order came a day after the Supreme Court upheld the law, Section 139AA of the Income Tax Act, that mandates the possession of Aadhaar cards...
More »Supreme Court upholds law making PAN linking with Aadhaar must -Dhananjay Mahapatra
-The Times of India NEW DELHI: In a major victory for the Narendra Modi government that is set on making Aadhaar compulsory for several kinds of transactions, the Supreme Court upheld on Friday the law making the UID number a must for Filing Income Tax returns and its linkage to PAN card. In what could cheer up the government, which faced anxious times while defending validity of Section 139AA of the Income...
More »Can we measure demonetisation's impact on income tax collections? -Roshan Kishore
-Livemint.com One-off gains from Income Disclosure Scheme 2016 call for scepticism about any immediate claims of demonetisation having widened India’s income tax net News reports have quoted government officials making claims about a record increase in the number of income tax payers in 2016-17. Should such claims be seen as a success of demonetisation in forcing unscrupulous individuals to become a part of income tax net? An analysis of direct tax collection...
More »'Aadhaar-PAN linking a Faustian bargain' -Krishnadas Rajagopal
-The Hindu Linking Aadhaar with essential activities will turn the nation into a concentration camp, SC told Lashing out at the move to link Aadhaar to the permanent account number and filing of income tax returns, senior advocate Shyam Divan told the Supreme Court on Thursday that the Constitution was not a charter of servitude. “We are independent citizens who cannot be forced by the State to part with our fingerprints in exchange...
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