Sunday, 3 December 2017

The Most Important News For PAN Card Holders, The Government Will Cancel Your PAN Card!

The Most Important News For PAN Card Holders, The Government Will Cancel Your PAN Card!

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At present, the hearing is being heard on the Supreme Court challenging the government's order to link the support card mobile number and bank accounts to the Supreme Court. A senior government official said, if the Supreme Court gives a verdict in favor of the government, the government will give 3 to 6 months time to link the support card. After the expiry of the deadline, the government can cancel all non-linked papers. The official said that by canceling the un-linked pagecard, all the fake PAN cards will be removed from the system and the anonymous transactions will stop. At present, the Income Tax Department has kept the date of joining the Aadhaar card with the PAN card till December 31. The government has indicated in the Supreme Court that it wants to extend this deadline to March 31, 2018.

The official said that if the Supreme Court decides in favor of agreeing with the government's stance of joining the pledgor with the papers and agrees with the proposed deadline, then the government can give an additional time of 3 to 6 months to link taxpayers to the support card.

The official said, we can give 3 to 6 months time to link support with Pan after 31st December. If the page is not linked to support after this deadline, then the PANcard will be invalid. Last month, the central government told the Supreme Court that it wants to extend the deadline for linking up to March 31. The government has mandated the number to get IT returns and a new PAN card from this year.
Income tax law says that on 1st July 2017, everyone who has a PAN card has to link the support number in the income tax department.

With 33 million papers linked to 13.28 crores
According to the official, by November 2017, out of 30 crore papers, 13.28 crore has been linked to the base. This exercise is done in the direction of abolishing duplicate leaf and support cards used by elements.
Fraudulent for a pirated economy

The official said that the fake papers are becoming scary for the economy. Opening of bank accounts by bogus papers has financial transactions, but returns are not filed which is a worrying thing.