PAN-Aadhaar linking deadline extended till Sept 30th
Government announced various relief measures for the taxpayers including the extension of PAN and Aadhar linking to 30 September from 30 June. In case you fail to link PAN and Aadhar your PAN becomes invalid.
As per Section 139AA, it is mandatory for every person to quote Aadhaar number in their income tax return and the application for the allotment of PAN, provided they are eligible to get Aadhaar.
Keeping in view the difficulties faced by taxpayers, the Central Government had earlier issued a notification regarding extending the last date for the intimation of Aadhaar number and linking thereof with PAN to 30th June, 2021.
In addition, there have been certain other announcements for the benefit of taxpayers.
The statement issued by Ministry of Finance mentions that many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of Covid-19 and to ensure that no income tax liability arises on this account, it has been decided to provide income-tax exemption to the amount received by a taxpayer for medical treatment from employer or from any person for treatment of Covid-19 during FY 2019-20 and subsequent years.
To provide relief to the family members of taxpayers who lost their lives due to Covid-19 Ministry of Finance has decided to provide income-tax exemption to ex-gratia payment received by family members of a person from the employer of such person or from other person on the death of the person on account of Covid-19 during FY 2019-20 and subsequent years.
Saraswathi Kasturirangan, Partner, Deloitte India, said: ”The announcement provides significant relief to the beneficiaries of Covid relief. Any financial assistance received by a tax payer for Covid treatment will be totally tax exempt…Read more>>