PAN-Aadhaar link: 32.71 Crore Indians Can Now Reap the Benefits

Must Read

Apple Store In India: More Of Disappointment Than Excitement?

Apple has started making moves to strengthen its presence in India. With the launch of Apple online...

Windfall! Online Grocery Market In India Looks Set For Purple Patch Ahead

Silver linings are clearly in short supply in the pandemic fuelled world that we have come to...

Facebook’s Chasm Of Distrust: An Ever-Deepening Divide

Facebook, the world's most popular social media platform has failed measurably as it is voted as the...

The agenda to link every citizen’s Aadhaar card with their PAN card has been on the Indian Government’s radar ever since 2017. The first deadline for linking PAN card with Aadhaar card was set for September 2019 but has since been extended 4 times. 2 out of these 4 extensions have happened in 2020 alone. Back in June, which was the second deadline of the year, owing to COVID-19, the government announced that remaining citizens now have time up to March 31, 2021 to link the Aadhaar with PAN card.

The government has made it clear time and again, by its tenacity, that linking the two cards is inevitable. After the linking period is over, users who fail to fulfil this compulsion will be unable to perform several functions like filing for ITR and making big transactions, apart from being stripped of their financial validity in the eyes of the state.

Now, as if to highlight this goal and its desirability, the Indian government has disclosed the estimated number of PAN cards linked with Aadhaar, along with a graph showcasing the increase in India’s PAN allotment over the years.

Advertisements

According to the tweet, 50.95 crore Indians have PAN cards as of August 2020. Out of these, 32.71 crores have already linked their PAN cards with Aadhaar.

This number, however, reflects a fairly small portion of the Indian population. With about 130 crore residents in India, the government’s estimations mean that less than half of India’s population has a PAN card at this moment. However, an even smaller fragment, about 1/4th of the total population has been able to link the two documents.

By the end of last year, 125 crore people reportedly obtained an Aadhaar card. Interestingly, another report points out that 95% of those use it once in a month.

With the next deadline 8 months away, and India being one of the worst-hit countries by the COVID-19 pandemic, this goal seems a little difficult to realize. While the government has enabled the option to link PAN and Aadhaar online, many people, especially those who don’t feel comfortable handling sensitive data related affairs digitally, might not utilize this provision. Additionally, those lacking access to the internet and a smart device or those who aren’t literate might be unable to link the two documents without help. This is a major loophole, one that wasn’t as detrimental in the pre-pandemic era.

Furthermore, the government has been rolling out new tax reforms and schemes which are deeply tied into whether the Aadhaar and PAN are linked or not.

Advertisements

Pre-filled ITR forms, Form 26AS, and “Transparent Taxation”

The Income Tax department recently introduced pre-filled ITR forms. With this provision, users who successfully linked their Aadhaar card, PAN card, and bank account(s) will have their ITR forms auto-filled by the IT department based on their transaction history. This is meant to increase tax compliance among citizens, as well as make the tax filing process as convenient as possible. Recently, the government’s official Twitter account claimed that the number of cases picked up for tax scrutiny has significantly decreased over the past few years.

Another significant reform that will directly affect individuals with unlinked cards is the revised Form 26AS which would now be updated electronically and act as a user’s overall tax statement by logging all their high-volume transactions.

Lastly, PM Modi announced the “Transparent Taxation” scheme today, which is an attempt to “honour honest tax payers.” The details of the scheme are still unclear and will be announced on Thursday. The broad goals are meant to benefit “honest taxpayers” through provisions such as quick refunds.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Why Is Google Pay In Hot Water in India?

Google Pay has been treading in hot water over a Public Interest Litigation as of late.

TikTok Escapes The Ban In the US, Albeit Temporary

As usual, a new day and a new action relation to TikTok ban in the US. On Sunday, a federal judge has...

Windfall! Online Grocery Market In India Looks Set For Purple Patch Ahead

Silver linings are clearly in short supply in the pandemic fuelled world that we have come to know. In a rare exception,...

$4.6 Billion Incentive For Companies To Push Electric Vehicle Adoption In India

The Electric Vehicle (EV) market in India is at a nascent stage. So far, the sales of EVs have been encouraging, albeit...

Amazon Luna Is Here To Eat Into The Cloud Gaming Market, Dominated By Google And Microsoft

The cloud gaming space has been one of the key interest areas of Amazon for quite some time. Today, the eCommerce giant...

Facebook’s Chasm Of Distrust: An Ever-Deepening Divide

Facebook, the world's most popular social media platform has failed measurably as it is voted as the least trusted social media platform...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This