PAN Card– Income Tax Return i.e. ITR for the financial year 2024-25 has to be filed by July 31. Tax Expert Chartered Accountant (CA) Anand Jain (Indore) explains that to file ITR, it is necessary for your PAN to be linked with Aadhaar. Because such PANs which are not linked with Aadhaar are put in the inactive category. To activate it again, you will have to link it with the Aadhaar number. For this, the government is charging a fee of Rs 1000. You can link Aadhaar-PAN at an Aadhaar centre, common service centre or by yourself. Those who have not linked PAN-Aadhaar can do it by paying a fee of Rs 1000. You can also do this work easily yourself. PAN-Aadhaar can be linked through the Income Tax official website.
It is necessary for these people to file income tax return
- If your annual income is more than Rs 2.5 lakh.
- If you have any property abroad in your name.
- Have spent more than Rs 2 lakh on travel during the financial year.
- The electricity bill received during the financial year is more than Rs 1 lakh.
- Total sales or business receipts exceed Rs 60 lakh.
- The total receipts from the business during the financial year should be more than Rs 10 lakh.
- Tax deduction should be ~25,000 or more (~50,000 for senior citizens).
The total deposit in the savings account should be more than Rs 50 lakh. - The total deposit amount in the current account should be more than Rs 1 crore.