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INCOME TAX DEPT MANDATES PAN-AADHAAR LINKING BY MAY 31 TO AVOID HIGHER TAX DEDUCTION

Why in the news? The income tax department urges taxpayers to link PAN with Aadhaar by May 31. Failure to link PAN with Aadhaar may result in tax deduction at a higher rate, as per income tax rules. If PAN is not linked with Aadhaar, TDS is required to be deducted at double the applicable …

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