Changes in I-T rules kick in today; to help govt track taxpayers' income

The Budget has made PAN and Aadhaar interchangeable, but both have to be linked by September 1

The government will get more access to taxpayers’ income information from Sunday when a slew of Budget announcements such as a new levy on cash withdrawal and interchangeability of Aadhaar number and PAN comes into effect. Most of these changes, such as widening the scope of deduction at source, will help the government track income of assessees. An amnesty scheme to clear pending service tax and service duty, from before the introduction of the goods and services tax (GST), will also open for four months.

The Budget presented on July 1 introduced a levy of 2 per cent at source on