Insta
PAN cards recovered by police. (Imtiyaz Khan/The India Today Group/Getty Images)
Following the landmark Supreme Court ruling on the validity of the Aadhaar Act, 2016, which allowed linking of Permanent Account Numbers (PAN) with Aadhaar, the Income Tax Department is set to declare all unlinked Permanent Account Numbers (PANs) as void from 31 March 2019.
This is expected to have major repercussions as almost half of the 400 million PANs currently in existence have not been linked with the unique identification number. The government believes that linking PANs with Aadhaar would enable the weeding out of people with multiple PANs.
The menace of individuals with multiple PANs is said to aid benami transactions and tax evasion resulting in loss of revenue for the government.
A Finance Ministry official speaking on the issue said “all unlinked PANs may be disqualified in one go or in phases. It is possible to keep some restrictions on use of the unlinked PAN initially after the March 2019 deadline before striking them off. In any case, these will not be allowed to remain in use for a long time”.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest