PAN/Aadhaar Norms relieved by the CBDT
The Central Board of Direct Taxes has relieved the norms of Permanent Account Number (PAN)/Aadhaar applicable to certain transactions regarding which an official order has also been released by the department of direct tax. The official order is here given below:-
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, 1st September, 2022
INCOME-TAX
G.S.R. 677(E)—In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules,1962, namely:–
- Short title and commencement–– (1) These rules may be called the Income-tax (29th Amendment) Rules, 2022.
(2) They shall be deemed to have come into force from the 9th day of July, 2022. 2. In the Income-tax Rules, 1962, in rule 114BB, after sub-rule (1), the following proviso shall be inserted, namely:
“Provided that the provisions of this sub-rule shall not apply in a case where the person, depositing the money as per Sl. No. 1 of column (2) or withdrawing money as per Sl. No. 2 of column (2) or opening a current account or cash credit account as per Sl. No. 3 of column (2) of the Table above, is the Central Government, the State Government or the Consular Office.”
It is hereby declared that the notification is having a retrospective effect which also means that, no person shall be adversely affected in this regard.
The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide number S.O. 969 (E), dated the 26th March, 1962 and last amended vide notification number G.S.R. 647 (E) dated 26th August, 2022.
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