ITR filing: Aadhaar to be interchangeable with PAN
Soon, Aadhaar card can be used to file Income Tax Return. Government of India has proposed Aadhaar-PAN interchangeability to make ITR filing easy and convenient for the general public. Nirmala Sitharaman announced the same in her debut union budget presented Friday.
Don't have a PAN card? No worries. Now you can file your Income Tax returns through you Aadhaar card.
Government has proposed an interchangeability between Aadhaar card and PAN card. This aims at making it easier for the public to file Income Tax return. According to the proposal, taxpayers can now quote their Aadhaar number in place of PAN number while filing income tax returns.
PAN – Adhaar Interchangeability proposed
The Budget also proposes to make PAN and Aadhaar interchangeable and allow those who do not have PAN to file Income Tax Returns by simply quoting their Aadhaar number and also use it wherever they are required to quote PAN. The Finance Minister said that more than 120 crore Indians now have Aadhaar and the proposal aims at ease and convenience of tax payers.
Pre-filling of Income-tax Returns
The Finance Minister said that pre-filled tax returns will be made available to taxpayers which will contain details of salary income, capital gains from securities, bank interests, and dividends etc. and tax deductions. She further said that Information regarding these incomes will be collected from the concerned sources such as Banks, Stock exchanges, mutual funds, EPFO, State Registration Departments etc. “This will not only significantly reduce the time taken to file a tax return, but will also ensure accuracy of reporting of income and taxes”, the Minister added.
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