How to link Aadhaar card with income tax returns

As per the current income tax laws an individual is required to quote or mention their Aadhaar number while filing income tax return (ITR). Apart from this, individuals are also required by law to link their PAN with their Aadhaar number. If your PAN is not linked with Aadhaar, it is likely that you will […]

Budget 2019: Your PAN won’t become ‘invalid’ if not linked with Aadhaar, only ‘inoperative’

As per current income tax laws, PAN would become invalid if not linked with Aadhaar by September 30, 2019. However, Budget 2019 has proposed that instead of making PAN ‘invalid’ as per Section 139AA of the Income Tax Act, it would become ‘inoperative’. Shalini Jain, Tax Partner, EY India says, “Earlier, failure to link PAN […]

ITR filing: Pre-validate your bank account to claim income tax refund

To claim your income tax refund this year, then apart from filing income tax return (ITR), you might have to do one additional step. This is because the process of claiming income tax refund has been tweaked a bit by the tax department. From this year, you will have to make sure that you have […]

EPFO says it will stick to 8.65% rate for FY19

NEW DELHI: The labour ministry and Employees Provident Fund Organisation (EPFO) are sticking to the 8.65% return proposed by the retirement savings body’s board of trustees, citing adequate reserves and the Narendra Modi government’s pre-poll political backing to the plan. The finance ministry has objected to the proposal for increasing the payout for 2018-19 to […]

Amendment no Aadhaar for mobile wallet firms

MUMBAI: The amendment to the Aadhaar Act passed by Parliament on Tuesday seems to have brought little respite for Paytm, Ola Money and PhonePe, mobile-wallet businesses that are weighed down by costs of verifying customers manually. The latest Aadhaar amendment allows banks to open accounts using Aadhaar as a non-binding document for customer verification using […]