The Income Tax Department of India has clearly given deadline to link PAN Card with Aadhaar for taxpayers, and the deadline is by 31st August. So if you have filed your return by ITR Filing and still you have not linked your Aadhaar latest by 31st August than your Income Tax Returns won't be processed by the Income Tax Department of India.
So incase if you have still not linked your Aadhaar Number with your PAN Card than just get it linked to it as soon as possible to avoid rejection of your filed ITR. After this new deadline has been released by ITR, people are having lots of questions in their mind, and below we have answered those queries.
What are the consequences of your ITR not being taken up for processing?
If you ITR is not being taken up for processing due to non-linking of Aadhaar to PAN than it will be treated as if you have not filed your return of the financial year. The filed return would become void and nil, and you will have to face the consequences applicable for not filing the ITR.
The Income Tax Department of India may send you a notice to file your ITR under section 142(1). The assessing officer may levy a penalty of ₹5,000 for not filing ITR on time.
You will not be able to claim or carry forward your losses such as capital loss, business losses etc.
It would definitely affect the processing of refunds. The refunds shall not be granted in case ITR is not processed.
Interest under section 234 A, B, C will be applicable as the case may be, i.e., if the tax is payable.
If you are unsure about your Aadhaar Linking with PAN than you can just confirm it by logging into your Income Tax Department e-Filing Website. Once you are logged in just check Profile Settings Tab and see if your Aadhaar Number is linked with your PAN Card.
What will happen to the ITR you have filed if you link your PAN with Aadhaar after August 31?
In case if you link your PAN Card with your Aadhaar Number after 31st August than still it's not clear what will happen with your filed ITR. But according to Section 139 AA (2) of the Income Tax Act. Every individual having PAN Card as on 1st July 2017 and is eligible to obtain Aadhaar Card must quote his Aadhaar Number to the tax authorities. Due to additional compliance requirements this year Government of India has given relaxation to link Aadhaar with PAN Card till 31st August 2017. However it is still not clear what law will apply if a person fails to link PAN with Aadhaar Card after deadline.
People who are exempted from linking Aadhaar with PAN Card are non-resident Indian's as per the Income Tax Laws, Non-Citizen of India, person 80 years or more, residents from states Assam, Jammu and Kashmir and Assam.
Know: How to Link Aadhaar Card to PAN Card
Linking Aadhaar Card with PAN Card via SMS
What are the consequences of your ITR not being taken up for processing?
If you ITR is not being taken up for processing due to non-linking of Aadhaar to PAN than it will be treated as if you have not filed your return of the financial year. The filed return would become void and nil, and you will have to face the consequences applicable for not filing the ITR.
The Income Tax Department of India may send you a notice to file your ITR under section 142(1). The assessing officer may levy a penalty of ₹5,000 for not filing ITR on time.
You will not be able to claim or carry forward your losses such as capital loss, business losses etc.
It would definitely affect the processing of refunds. The refunds shall not be granted in case ITR is not processed.
Interest under section 234 A, B, C will be applicable as the case may be, i.e., if the tax is payable.
If you are unsure about your Aadhaar Linking with PAN than you can just confirm it by logging into your Income Tax Department e-Filing Website. Once you are logged in just check Profile Settings Tab and see if your Aadhaar Number is linked with your PAN Card.
What will happen to the ITR you have filed if you link your PAN with Aadhaar after August 31?
In case if you link your PAN Card with your Aadhaar Number after 31st August than still it's not clear what will happen with your filed ITR. But according to Section 139 AA (2) of the Income Tax Act. Every individual having PAN Card as on 1st July 2017 and is eligible to obtain Aadhaar Card must quote his Aadhaar Number to the tax authorities. Due to additional compliance requirements this year Government of India has given relaxation to link Aadhaar with PAN Card till 31st August 2017. However it is still not clear what law will apply if a person fails to link PAN with Aadhaar Card after deadline.
People who are exempted from linking Aadhaar with PAN Card are non-resident Indian's as per the Income Tax Laws, Non-Citizen of India, person 80 years or more, residents from states Assam, Jammu and Kashmir and Assam.
Know: How to Link Aadhaar Card to PAN Card
Linking Aadhaar Card with PAN Card via SMS
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