As it is well known that the income tax department has allowed Aadhaar card holders to use the biometric id number in lieu of the Permanent Account Number (PAN). But as per new provision of Income Tax, fine of Rs. 10,000 may be levied in case of wrong Aadhar Number. As per the latest amendments in the Finance Bill 2019, not only allowed people to use Aadhaar in lieu of PAN but also introduced a penalty for giving a false Aadhaar number. However, the new penalty rules are applicable only in cases where you are using Aadhaar in lieu of PAN and where quoting PAN is mandatory according to the income tax department rules. It is well known that although Aadhaar is issued by the Unique Identity Authority of India, yet the fine is not imposed by UIDAI but by the income tax department. Under Section 272B of the Income Tax Act, 1961, the department can impose a penalty in case of default in complying with provisions relating to PAN, i.e., failure to obtain, quote, or authenticate PAN.
Income Tax Deptt. Sends Letters to Another Batch of 35,000 Non-Filers Tax Payers again urged to disclose their true Income and Pay Due Taxes
According to PIB News, the Income Tax Department, as part of its
ongoing initiative, on 22.07.2017 has sent letters to another batch of 35,000
non filers. Non-filers identified as a result of data matching exercise, these
persons were part of the around 12 lakh non filers.
Till now the Department has
now issued letters in 2,10,000 high priority cases. The response to this
initiative has been very encouraging and a large number of tax payers have paid
taxes and filed Income Tax Returns.
To monitor return filing and tax payment of the target segment, a
compliance management cell has been set up.
This information is now being made available to the jurisdictional
assessing authorities through the online monitoring system for verification and
issue of notices in relevant cases.
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