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.
As per the new circular dated 10.02.2014,
Central Board of Direct Taxes, in exercise of powers under section 119 (2) (a)
of the Act, hereby further relaxes and extends the date for filing ITR -V Form
for Assessment Years 2009-10, 2010-11 and 2011-12 till 31.03.2014 for returns
e-Filed with refund claims within the time allowed under section 139 of the
Act. The taxpayer concerned may send a duly signed copy of ITR-'V' to the CPC
by this date by speed post In such cases, Central Board of Direct Taxes also
relaxes the time-frame of issuing the intimation as provided in second proviso
to sub section (1) of Section 143 of the Act and directs that such returns
shall be processed within a period of six months from end of the month in which
ITR-V is received and the intimation of processing of such returns shall be
sent to the assessee concerned as per laid down procedure. Provision of
sub-section (2) of section 244A of the Act would apply while determining the
interest on such refunds.
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