I-T sets Aadhaar, PAN linking deadline at Aug 31 for processing Income Tax Returns

The Income Tax department has clearly stated that the deadline to link PAN with Aadhaar for taxpayers is unlikely to be extended beyond August 31, 2017. As per this ruling of the tax department, even if you have filed your return by the ITR filing deadline of August 5 but have not linked your PAN and Aadhaar latest by August 31, your Income Tax Returns (ITR) won't be taken up by the department for processing. 

However, if you are not required to file ITR as per income tax laws, i.e., your total income is below the exemption limit of Rs 2.5 lakh in a financial year, the deadline to link the same is yet to be notified by the government. 

Here are some of the consequences of your ITR not being taken up for processing 

1. What are the consequences of your ITR not being taken up for processing? 

2. What will happen to the ITR you have filed if you link your PAN with Aadhaar after August 31? 

3. You will not be able to claim or carry forward your losses such as capital loss, business losses etc. 

4. It would definitely affect the processing of refunds. The refunds shall not be granted in case ITR is not processed. 

5. Interest under section 234 A, B, C will be applicable as the case may be, i.e., if the tax is payable.