Link PAN With Aadhaar By May 31 To Avoid Double Income Tax Deduction
NDTV
As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate.
The income tax department today asked taxpayers to link PAN with Aadhaar by May 31 to avoid tax deduction at a higher rate.
As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate.
Last month, the income tax department issued a circular stating that no action will be taken for short deduction of TDS in case the assessee links his/her PAN with Aadhaar by May 31.
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