Budget 2019: Aadhar card, a PAN card substitute to file income tax
New Delhi : Aadhaar card can now be used as a substitute of PAN card for all the purposes, including filing of tax returns, said Finance Minister Nirmala Sitharaman during Budget presentation.
While announcing the interchangeability, Finance Minister said Aadhaar card can now be used even for filing Income Tax. Aadhar number can now be used instead of PAN no wherever required.
She also said that Indian government will be issuing Aadhaar card to the NRIs with Indian passport after their arrival in India, without waiting for the mandatory 180 days.
Finance Minister also announced increase in surcharge on people earning between Rs 2-5 crore and above Rs 5 crore. A 2% tax has also been announced on annual cash withdrawals over Rs 1 crore.