As per CBDT circular you cannot file IT return
First of all, let us talk about linking PAN-Aadhaar. As March 31 is approaching, if you haven’t linked your PAN card and Aadhaar card yet, you may be in trouble. Currently, a fee of 1 thousand rupees has to be paid to link PAN card and Aadhaar card. But if for any reason you are not able to link then pan card will be deactivated. If this happens, many of your important works will be interrupted. If your PAN card is deactivated even by mistake then as per CBDT circular you cannot file IT return, your pending return cannot be processed, pending refund even if you have to issue it cannot be done and tax will be deducted at higher rate.
If a person uses the PAN card after it has been deactivated, he can also be penalized. Under Section 272B of Income Tax such a person can be fined Rs 10,000. Central Board of Direct Taxes (CBDT) from June 30, 2022 to link PAN card with Aadhaar card Rs. 1,000 is charging a late fee. Currently, till March 31 you can link PAN with Aadhaar by paying a fine of Rs 1,000.
How Aadhaar-Paan can be linked
- In the process of linking PAN card with Aadhaar, first you go to the official website of Income Tax.
- Which is as follows www.incometax.gov.in. Log in here. Then go to the Quick Links section and click on Link Aadhaar.
- After this step, a new link will open where you can add PAN number, Aadhaar number and mobile number.
- Now select the option of Validate My Adhar Details
- OTP will come in mobile. Add it and click on the Validate section
- After paying the fee here, your PAN card will be linked with Aadhaar
How to check whether PAN-Aadhaar is linked or not?
- Now go to UIDAI website to check whether PAN card is linked with Aadhaar card or not. (http://uidai.gov.in/)
- Here select Aadhaar Linking Status from Aadhaar Services menu
- Now enter 12 digit Aadhaar number and click on Get Status
- Enter your PAN card number along with captcha code here
- Click on Get Link Status that appears
- Now you will see on the screen whether your PAN-Aadhaar is linked or not
Another change is mutual fund investment related
There will also be changes in the nomination rules of mutual fund investments after April 1. Nomination should be made in mutual fund investment and if this is not possible then this option should be selected. This can also be deferred if not done so in the folio. The effect of this will be that you will find it difficult to invest in the folio or not be able to redeem it. If there is investment in joint name, in that case offline option has to be selected for nomination in either or survivor mode. SEBI has informed every asset management company about this.
A third important decision will come under online gaming
The world of online gaming in India is growing from time to time. Earning opportunities are also increased here. As for the new financial year, the income earned or won through online gaming will have to be taxed heavily. Under the new Section 115 BBJ of the Income Tax Act, 30 percent TDS will be levied on online gaming winnings. In the future, the world of online gaming will also go much further.
The fourth major change will come for NPS customers
In case of exit from NPS, it will be mandatory to upload several documents to get the annuity payment quickly. Address and identity proof, NPS withdrawal form, bank account proof and copy of PRAN card will be included.
The fifth change will be regarding hallmarking
Hallmarking on gold jewelery will become mandatory from 1 April 2023. According to the details, the government has said that all gold jewelery and other goods sold after March 31 must have a hallmark unique identification number. The aim of this move by the government is to set quality standards. A jeweler can no longer sell jewelery without a hallmark.
