Finally Government has made Aadhaar number compulsory in filling Income Tax Returns (IT returns) as well as getting new PAN (Permanent Account Number) from 1st July this year. The new proposal has been made through an amendment to the Finance Bill. Finance ministry is presenting amendment in finance bills this session itself for modification.
Based on government norms Income Tax department has developed a mobile based apps for paying taxes and tracking of refunds. They are also planning to issue Permanent Account Number (PAN) on real time basis using Aadhaar bio-metric.
[box type=”info” ]”Income Tax department is considering issuing of Permanent Account Number (PAN) on a real time basis using Aadhaar’s e-KYC facility. The proposal is at an initial stage of consideration,” Minister of State for Finance Santosh Kumar Gangwar had said in a written reply in Lok Sabha.[/box]
Aadhaar-based e-KYC will verify all the details of individual like date of birth or address through biometric identification using thumb impressions.
As per the government estimate, every year 2.5 crore people across the country apply for PAN cards. There are more than 25 crore PAN card holders in the country.
Linking of Aadhaar with PAN will flush out tax evaders who have multiple PAN.