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Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
******
New Delhi, 17th December, 2024
Press Release
CBDT Launches Electronic Campaign to Address Income and Transaction Mismatches for FY 2023-24 and FY 2021-22
The Central Board of Direct Taxes (CBDT) has launched an electronic campaign to assist taxpayers in resolving mismatches between the income and transactions reported in the Annual Information Statement (AIS) and those disclosed in Income Tax Returns (ITRs) for the financial years 2023-24 and 2021-22. This campaign also targets individuals who have taxable income or significant high-value transactions reported in their AIS but have not filed ITRs for the respective years. The initiative is part of the implementation of the e-Verification Scheme, 2021.
As part of this campaign, informational messages have been sent via SMS and email to taxpayers and non-filers where mismatches have been identified between transactions reported in AIS and the ITRs filed. The purpose of these messages is to remind and guide individuals who may not have fully disclosed their income in their ITRs to take this opportunity to file revised or belated ITRs for FY 2023-24. The last date to file these revised or belated ITRs is December 31, 2024.
For cases pertaining to FY 2021-22, taxpayers can file updated ITRs by the limitation date of March 31, 2025.
Taxpayers can also provide their feedback, including disagreeing with the information reported in the AIS, through the AIS portal accessible via the e-filing website (https://www.incometax.gov.in/iec/foportal/).
This initiative reflects the Income Tax Department’s commitment to leveraging technology to simplify compliance and ensure transparency. By utilizing third-party data, the department aims to create a more efficient, taxpayer-friendly system that aligns with the vision of Viksit Bharat.
The CBDT encourages all eligible taxpayers to take advantage of this opportunity to fulfil their tax responsibilities and contribute to the nation’s economic development. This effort not only supports the government’s vision for a developed India but also promotes a culture of transparency, accountability, and voluntary compliance.
(V. Rajitha)
Commissioner of Income Tax
(Media & Technical Policy) &
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 26th November, 2024
Press Release
PAN 2.0 Project of the CBDT receives CCEA Approval
The Cabinet Committee on Economic Affairs (CCEA) has approved the Income Tax Department’s PAN 2.0 Project. This project aims to streamline and modernize the process of issuing and managing PAN and TAN, making it more user-friendly and efficient. With existing PAN database of 78 crore PANs and 73.28 lakh TANs, the project addresses the requirements of taxpayers, focusing on consolidation of multiple platforms/portals and efficient services to PAN/ TAN holders.
Currently, PAN-related services are spread across three different platforms: the e-Filing Portal, UTIITSL Portal, and Protean e-Gov Portal. With the implementation of PAN 2.0, all these services will be integrated into a single, unified portal. This one-stop platform will handle comprehensively issues/matters related to PAN and TAN, including application, updates, corrections, Aadhaar-PAN linking, re-issuance requests, and even online PAN validation. By doing so, the Income Tax Department endeavours to simplify processes, eliminate delays, and improve grievance redressal mechanisms.
The PAN 2.0 Project is also a significant step toward aligning with the Digital India initiative. It focuses on eco-friendly, paperless processes while establishing PAN as a common identifier for all digital systems of specified Government agencies.
Key features of PAN 2.0:
• A single portal for all PAN/TAN-related services to simplify access for users.
• Eco-friendly paperless less processes to reduce paperwork.
• PAN will be issued free of cost, with quicker processing times.
• Personal and demographic data will be protected through enhanced security measures, including a PAN Data Vault.
• A dedicated call center and helpdesk to address user queries and issues.
This upgrade is designed to enhance the overall experience for taxpayers by ensuring faster service delivery, effective grievance redressal, and better protection of sensitive data. The project will also make it easier for users to apply for PAN/TAN online, update their details, and validate PAN information digitally. By consolidating and re-engineering these processes, the Income Tax Department has taken a significant move towards creating a seamless, transparent, and inclusive system for taxpayers.
For providing further clarity, a FAQ document has been prepared which is attached herewith.
(V. Rajitha)
Commissioner of Income Tax
(Media & Technical Policy) &
Official Spokesperson, CBDT
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Frequently Asked Questions (FAQs) on PAN 2.0 Project
Question 1
What is PAN 2.0?
PAN 2.0 Project is an e-Governance project of ITD for re-engineering the business processes of taxpayer registration services. The objective of the project is to enhance the quality of PAN services through adoption of latest technology. Under this project ITD is consolidating all processes related to PAN allotment/updation and corrections. The TAN related services are also merged with this project. Besides, PAN authentication/validation through online PAN validation service will be provided to user agencies such as financial institutions, banks, government agencies, central and state government departments etc.
Question 2
How PAN 2.0 will be different from existing setup?
Question 3
No. The existing PAN card holders are not required to apply for new PAN under the upgraded system (PAN 2.0).
Question 4
Do people have an option to get corrections done on PAN, like name, spellings, address change etc?
Yes. If existing PAN holders want to make any correction/updation of their existing PAN details such as email, mobile or address or demographic details such as name, date of birth etc., they can do so at free of cost after the PAN 2.0 Project commences.Till the time the PAN 2.0 project is rolled-out, the PAN holders can avail the Aadhaar based online facility for updation/correction of email, mobile and address free of cost by visiting the below URLs:
In any other cases of updation/correction of PAN details, the holders can do so using the existing process either by visiting physical centres or applying online on payment basis.
Question 5
Do I need to change my PAN card under the PAN 2.0?
No. The PAN card will not be changed unless the PAN holders want any updation/correction. The existing valid PAN cards will continue to be valid under PAN 2.0.
Question 6
No new PAN card will be delivered unless the PAN holder requests for it owing to any updation/correction in their existing PAN. The PAN holders who want to update old address, they can do so free of cost using Aadhaar based online facility by visiting the below URLs:
Accordingly, the address will be updated in the PAN database.
Question 7
Question 8
What is - the "Common Business identifier for all business-related activities in specified sectors"?
In the Union Budget 2023, it was announced that for the business establishments required to have a PAN, the PAN will be used as the common identifier for all digital systems of specified government agencies.
Question 9
Whether Common Business identifier will replace the existing unique taxpayer identification number i.e. PAN?
No. PAN itself will be used as a Common Business identifier.
Question 10
What does the “Unified Portal” mean?
Presently, the PAN related services are hosted on three different portals. In the PAN 2.0 Project, all PAN/TAN related services will be hosted on a single unified portal of ITD. The said Portal would host all end-to-end services related to PAN and TAN like allotment, updation, correction, Online PAN Validation (OPV), Know your AO, AADHAAR-PAN linking, verify your PAN, request for e-PAN, request for re-print of PAN card etc., thereby further simplifying the processes, and avoiding delay in PAN services delivery, delay in redressal of grievances etc. caused by the presence of various modes of receipt of applications (online eKYC/online paper mode/offline).
Question 11
For people holding more than one pan, how will you identify and weed out the extra PAN ?
As per the provisions of Income-tax Act, 1961, no person can hold more than one PAN. In case a person holds more than one PAN, he/she is obliged to bring it to notice of Jurisdictional Assessing officer and get the additional PAN deleted/de-activated.
In the PAN 2.0, with the improved systems logic for identification of potential duplicate requests for PAN and centralized and enhanced mechanism for resolving the duplicates would minimize the instances of one person holding more than one PAN.
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
******
New Delhi, 16th November, 2024
Press Release
Compliance-Cum-Awareness Campaign for AY 2024-25
The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets and reporting income from foreign sources in their Income Tax Returns (ITR). Compliance with Schedule FA and FSI is mandatory under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which requires the full disclosure of foreign assets and income.
As part of this campaign, informational messages will be sent via SMS and email to resident taxpayers who have already submitted their ITR for AY 2024-25. These messages are intended for individuals identified through information received under bilateral and multilateral agreements, suggesting that they may hold foreign accounts or assets, or have received income from foreign jurisdictions. The purpose is to remind and guide those who may not have fully completed Schedule Foreign Assets in their submitted ITR for AY 2024-25, especially in cases involving high-value foreign assets.
This initiative aligns with the vision of Viksit Bharat and highlights the Income Tax Department’s commitment to using technology to simplify taxpayer compliance and reduce human interaction. By leveraging data obtained through the Automatic Exchange of Information (AEOI), the department is working to create a more efficient, taxpayer-friendly system.
The CBDT expects all eligible taxpayers to take advantage of this opportunity to fulfil their tax responsibilities and contribute to the nation’s economic development. This effort not only is in line with the government’s vision for a developed India but also fosters a culture of transparency, accountability, and voluntary compliance.
For a detailed, step-by-step guide on completing Schedule Foreign Assets, taxpayers are encouraged to visit the official Income Tax Department website www.incometax.gov.in where resources and support are readily available to assist them.
(V. Rajitha)
Commissioner of Income Tax
(Media & Technical Policy) &
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 26 th October, 2024
Press Release
CBDT extends due date for furnishing Return of Income for the Assessment Year 2024-25 under the Income-tax Act, 1961 (the Act) The Central Board of Direct Taxes (CBDT) has extended the due date of furnishing of Return of Income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2024-25, which is 31 st October 2024 in the case of assessees
referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to 15 th November 2024.
CBDT Circular No.13/2024 in F.No.225/205/2024/ITA-II dated 26.10.2024 is issued. The said Circular is available on www.incometaxindia.gov.in.
(V. Rajitha)
Commissioner of Income Tax
(Media & Technical Policy) &
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
******
New Delhi, 16th October, 2024
Press Release
CBDT Notifies Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and Enabling claiming TCS Credit of Minors in the Hands of Parents
Sub-section (2B) of Section 192 of the Income-tax Act, 1961 (‘the Act’) was amended vide the Finance (No. 2) Act, 2024 (FA (No. 2)) to include any tax deducted or collected at source under the provisions of Chapter XVII-B or Chapter XVII-BB, as applicable, for the purpose of making tax deductions in the case of salaried employees.
Vide CBDT Notification No. 112/2024 dated 15.10.2024, the Income-tax Rules, 1962 (‘the Rules’) have been amended, introducing Form No. 12BAA as the prescribed statement of particulars required under sub-section (2B) of Section 192 of the Act. Employees must provide these particulars to their employers, who are responsible for making payments under sub-section (1) of Section 192. The employer, in turn, shall deduct TDS on salary after taking into account the furnished particulars.
Further, sub-section (4) of Section 206C of the Act was amended vide FA (No. 2) to allow the credit of TCS to a person other than the collectee—such as a parent in the case of a minor collectee—when the minor’s income is clubbed with that of the parent. Accordingly Vide CBDT Notification No. 114/2024 dated 16.10.2024 Rule 37-I of the Rules has been amended to allow credit of tax collected at Source to a person other than the collectee, in whose hands the income of the collectee is assessable.
The said notifications are available at www.incometaxindia.gov.in
(V. Rajitha)
Commissioner of Income Tax
(Media & Technical Policy) &
Official Spokesperson, CBDT