Skip to main content

Centre faces Supreme Court poser on mandatory Aadhaar for PAN cards

By

The Centre on Friday faced searching questions from the Supreme Court for making Aadhaar mandatory for PAN cards, despite its order that it should be optional.
Attorney General Mukul Rohatgi, appearing for the Centre, made the submission as a Bench comprising Justices AK Sikri and Ashok Bhushan asked him why Aadhaar has been made mandatory for applying for PAN cards when the apex court had earlier said it should be made optional.
Rohatgi said the government had found that lots of fake PAN cards had been procured on the basis of fake ration cards and other documents and these were used to divert funds to shell firms.To stop such a situation, it has been decided to make Aadhaar mandatory while applying for PAN.
“There is a legislative mandate now.Section 139AA of the Income Tax Act says so. It is the only option as we have found that people were getting PAN cards on fake ration cards and such cards were used to divert funds to shell firms,” he said.
The Bench observed, “Is this the remedy that you need to have Aadhaar for having PAN? Why has it been made mandatory despite this court´s order?”
Section 139AA of the Income Tax Act, introduced by the Finance Act 2017, provides for mandatory quoting of Aadhaar or enrolment ID of Aadhaar application form for filing of IT returns and for making application for allotment of PAN with effect from July 1 this year.
Rohatgi said they had found that SIM cards for mobiles were procured on fake identity cards and the apex court had asked the Centre to put in place an effective mechanism to scrutinise it.
Senior counsel Arvind Datar, representing the petitioner, told the bench that they have challenged the constitutional validity of section 139AA of the income Tax Act, which has made Aadhaar mandatory for applying for PAN card as well as for filing IT returns.“According to this section, if one does not have Aadhaar card, he cannot have a PAN.
This would create huge difficulties,” he told the Bench, which said it would hear arguments on the plea on April 25.

Business Standard New Delhi, 22nd April 2017

Comments

Post a Comment

Popular posts from this blog

New income tax slab and rates for new tax regime FY 2023-24 (AY 2024-25) announced in Budget 2023

By
  Basic exemption limit has been hiked to Rs.3 lakh from Rs 2.5 currently under the new income tax regime in Budget 2023. Further, the income tax slabs in the new tax regime has been changed. According to the announcement, 5 income tax slabs will be there in FY 2023-24, from 6 income tax slabs currently. A rebate under Section 87A has been enhanced under the new tax regime; from the current income level of Rs.5 lakh to Rs.7 lakh. Thus, individuals opting for the new income tax regime and having an income up to Rs.7 lakh will not pay any taxes   The income tax slabs under the new income tax regime will now be as follows: Rs 0 to Rs 3 lakh - 0% tax rate Rs 3 lakh to 6 lakh - 5% Rs 6 lakh to 9 lakh - 10% Rs 9 lakh to Rs 12 lakh - 15% Rs 12 lakh to Rs 15 lakh - 20% Above Rs 15 lakh - 30%   The revised Income tax slabs under new tax regime for FY 2023-24 (AY 2024-25)   Income tax slabs under new tax regime Income tax rates under new tax regime O to Rs 3 lakh 0 Rs 3 lakh to Rs 6 lakh 5% Rs 6
Post a Comment
Read more

Jaitley plans to cut MSME tax rate to 25%

By
Income tax for companies with annual turnover up to ?50 crore has been reduced to 25% from 30% in order to make Micro, Small and Medium Enterprises (MSME) companies more viable and also to encourage firms to migrate to a company format. This move will benefit 96% or 6.67 lakh of the 6.94 lakh companies filing returns of lower taxation and make MSME sector more competitive as compared with large companies. However, bigger firms have shown their disappointment since the proposal for reducing tax rates was to make Indian firms competitive globally and it is the large firms that are competing globally. The Finance Minister foregone revenue estimate of Rs 7,200 crore per annum for this for this measure. Besides, the Finance Minister refrained from removing or reducing Minimum Alternate Tax (MAT), a popular demand from India Inc., but provided a higher period of 15 years for carry forward of future credit claims, instead of the existing 10-year period. “It is not practical to rem
1 comment
Read more

Don't forget to verify your income tax return in August: Here's the process

By
  An ITR return needs to be verified within 120 days of filing of tax return. Now that you have filed your income tax return, remember to verify it because your return filing process is not complete unless you do so. The CBDT has reduced the time limit of ITR verification to 30 days (from 120 days) from the date of return submission. The new rule is applicable for the returns filed online on or after 1st August 2022. E-verification is the most convenient and instant method for verifying your ITR. However, if you prefer not to e-verify, you have the option to verify it by sending a physical copy of the ITR-V. Taxpayers who filed returns by July 31, 2023 but forget to verify their tax returns, will get the following email from the tax department, as per ClearTax. If your ITR is not verified within 30 days of e-filing, it will be considered invalid, and may be liable to pay a Late Fee. Aadhaar OTP | EVC through bank account | EVC through Demat account | Sending duly signed ITR-V through s
Post a Comment
Read more