Tuesday, October 4, 2022



Budget proposes PAN-Aadhaar interchangeability, simpler e-filing

New Delhi, July 5, 2019-

Seeking to ease the compliance burden, Union Finance Minister Nirmala Sitharaman has proposed a slew of measures including interchangeability of PAN and Aadhaar and faceless assessment in electronic mode with no human interface.

“India’s Ease of Doing Business ranking under the category of ‘paying taxes’ showed a significant jump from 172 in 2017 to 121 in 2019. I now propose to implement series of measures that will leverage technology to make compliance easier for the taxpayers,” Sitharaman said while presenting her maiden Budget.

Accordingly, she proposed 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. The taxpayers may also use it wherever they are required to quote PAN.

Nitin Baijal, Director, Deloitte India said that the Budget was an effort at laying down a clear roadmap for tax administration over the next five years with introduction of a slew of measures specifically aimed at simplifying the tax filing process, e-assessment process and interchangeability of PAN with Aadhaar.

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. Information regarding these incomes will be collected from the sources concerned such as banks, stock exchanges, mutual funds, EPFO and state Registration Departments among others.

“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 Finance Minister said in Lok Sabha.

With interchangeability of Aadhaar and PAN proposed, the country is likely to move towards one identity number as in case of social security number in the US.

Neel Ratan, Partner and Leader- Government and Public Sector, PwC India said that the move was perhaps the first step to abolish PAN altogether for individuals.

“This also paves the way for better tax compliance with a single identifier and data driven governance,” Ratan noted.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected






First elected Congress prez in 22 years faces Himalayan challenge – by Deepika Bhan

The question -- Is India's grand old party in its last stage? -- has been repeatedly raised in the past few years, and the...

Popular Front of India – India’s internal insurgency – by Arshia Malik

The National Investigation Agency (NIA) -- which was probing over 100 (Popular Front of India (PFI) members in connection with various cases -- arrested...

India’s rise as a global counsel at Samarkand summit – by DC Pathak

The post-Cold War world - no more divided in rival camps created by two competing superpowers confronting each other for military and ideological reasons...


Health & Fitness

World Heart Day: Smoking teenagers more prone to cardiovascular deaths, say experts

Bengaluru, Sep 29, 2022- India accounts for almost one fifth of deaths occurring worldwide due to cardiovascular reasons in the young population. The worldwide risk of cardiovascular diseases and deaths is 235 per one lakh population but in India the number is alarming at 272 which is very high as compared to any country in the world. On World Heart Day,...

Gadgets & Tech

error: Content is protected !!