Aadhaar Card Must for Filing Income Tax Returns (ITR)
The Indian government is finding a way to hold in the line of tax avoidance issues. Government as of now acquainted strides with limit the black money through demonetization. In a similar setting, the back clergyman Arun Jaitley has proposed to make Aadhaar card compulsory for the recording of pay assessment forms. Prior connecting of Aadhaar card is discretionary now it is ordered. This will be impacted by first July.
All the policies which are implemented by the government for the senior citizens, public healthcare and taking care of needy families are successful because of the money collected due to tax-payers.
In what way People are fooling the Government?
It is necessary for an individual to have a PAN card if he/she wants to deposit their Income Tax amount. The individuals can also hide their real annual income so that they get exempted from their taxable amount with the help of multiple Permanent Account Numbers. You can issue different PAN cards in a single name.
There are different slabs as announced by the government to fill the taxes accordingly. The exempted slab of not paying Income Tax includes the total amount of 2.5 lakhs in a year. An individual having 2 PAN cards can easily file ITR without paying any tax. This is the way people are not paying their taxes and as a result of which Indian Government is not able to collect actual tax amount which in return has to be used for the nation benefits.
What Makes Aadhaar Card Helpful To The Indian Government?
The Indian Government issued 12 digits unique number popularly known as Aadhaar number under its UIDAI program. It has all details of an individual including Biometric Details along with the personal information of an individual. Biometric details include iris scan and fingerprints. There are no chances of any frauds and scams as it is possible to replicate your personal details, but you cannot copy biometrics details of any individual as it is next to impossible. So this indicates that one person can only issue one Aadhar Card on its name.
Aadhar Card Number is the more authentic identity of the individual, which is safer as compared to Permanent Account Number. This makes Government pass the order to link Aadhaar Card with your PAN card to file ITR right from the present financial year. We advise you to update and do correction on your Aadhaar Card.
How people react to this linkage for Income Tax Returns?
Many people reacted when they heard that it is mandatory to link your PAN Card with your Aadhaar Card to stop tax evasion form 1st July 2017, as Aadhaar is now compulsory, so there are fewer chances of frauds.
As suggested by the Indian Government no one can file their ITR without Aadhaar Card Number. If people try to submit their ITR without Aadhaar Number, their PAN card will be counted as invalid. When people hear this news as announced by the Finance Minister caused panic among them. Now, it is mandatory for every individual to get his or her Aadhaar Card issued.
Due to the linkage of these two proofs people who were trying to hide their real annual income are facing real trouble now as it is now next to possible to use multiple PAN cards.