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Link Aadhaar with PAN using SMS: I-T dept

[email protected] (Agencies)
June 1, 2017

New Delhi, Jun 1: The Income Tax Department on Wednesday urged taxpayers to link their Aadhaar with their PAN, using an SMS-based facility.aapa

The department issued advertisements in leading national dailies and described how both the unique identity numbers of an individual can be linked by sending an SMS to either 567678 or 56161.

It said people can also visit the official efiling website of the department to link the two identities, in both the cases-- identical names in the two databases or in case where there is a minor mismatch.

It said linking the two numbers is the key to "seamlessly avail online, a world of income tax facilities."

"Aadhaar can also be seeded into PAN database by quoting Aadhaar in PAN application form for new PAN allotment or by quoting Aadhaar in change request form used for reprint of PAN card," it said in the advertisement.

The Income-Tax-department had early this month launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing I-T returns now.

The department's e-filing website has hosted a new link on its homepage to link the two unique identities.

The link requires a person to punch in his PAN number, Aadhaar number and the exact name as given in the Aadhaar card.

"After verification from the UIDAI (Unique Identification Authority of India), the linking will be confirmed.

"In case of any minor mismatch in Aadhaar name provided, Aadhaar OTP (one time password) will be required," the department had said in its advisory to taxpayers and individuals.

The OTP will be sent on the registered mobile number in the Aadhaar database.

The government, under the Finance Act 2017, has made it mandatory for taxpayers to quote Aadhaar or enrolment ID of Aadhaar application form for filing of Income-Tax returns (ITR).

Also, Aadhaar has been made mandatory for applying for permanent account number with effect from July 1, 2017.

While Aadhaar is issued by the UIDAI to a resident of India, PAN is a ten-digit alphanumeric number issued in the form of a laminated card by the I-T department to any person, firm or entity.

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Agencies
March 14,2020

New Delhi, Mar 14: Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.

Special excise duty on petrol was hiked by ₹2 to ₹8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.

Additionally, road cess on petrol was raised by ₹1 per litre each on petrol and diesel to ₹10.

The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of slump in international oil prices.

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Agencies
July 19,2020

New Delhi, Jul 19: Three of the 10 most valued companies added a total of Rs 98,622.89 crore to their market valuation last week, led by stellar gains in IT major Infosys.

Seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of Rs 37,701.1 crore was less than the total gain made by three firms -- Reliance Industries Limited, Hindustan Unilever Limited and Infosys.

The market capitalisation of Infosys zoomed Rs 52,046.87 crore to Rs 3,85,027.58 crore. Shares of Infosys had rallied over 9 per cent on Thursday after the company posted a stronger-than-expected 12.4 per cent rise in the first quarter consolidated net profit.

Hindustan Unilever Limited added Rs 25,751.07 crore in its market valuation which stood at Rs 5,48,232.26 crore at close on Friday. Reliance Industries' m-cap jumped Rs 20,824.95 crore to Rs 12,11,682.08 crore.

In contrast, HDFC's valuation plunged Rs 13,920.21 crore to Rs 3,13,269.70 crore and that of Tata Consultancy Services (TCS) declined Rs 7,617.34 crore to Rs 8,26,031.21 crore.

The valuation of ICICI Bank tumbled Rs 4,205.71 crore to Rs 2,29,156.24 crore and that of Kotak Mahindra Bank by Rs 4,175.28 crore to Rs 2,62,864.37 crore.

Bharti Airtel's m-cap dipped Rs 4,009.83 crore to Rs 3,09,521.05 crore and HDFC Bank's by Rs 3,403.97 crore to Rs 6,03,463.97 crore.

The valuation of ITC declined by Rs 368.76 crore to Rs 2,38,469.29 crore.

In the ranking of top-10 firms, RIL was at the number one rank followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Bharti Airtel, Kotak Mahindra Bank, ITC and ICICI Bank.

During the last week, the 30-share BSE index advanced 425.81 points or 1.16 per cent.

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Agencies
June 12,2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

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