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  • Tax Matters: What can be done if the name in Pan and Aadhar do not match?

    A Company must file the annual accounts with the registrar within 30 days of the AGM, irrespective of whether the annual accounts are adopted or not

    My complete name is Ram Avtar Sharma. I am a professor in a government college. I have my full name on my voter ID card, Aadhar card and on property papers (a flat and a plot). But my educational certificates, service records, permanent account number (Pan) card and bank and demat accounts do not have my surname. They only mentioned Ram Avtar. Hence, there is discrepancy in my name in different records. I am an honest tax payer and always pay due taxes and also file my income tax (IT) returns in time. I have nothing to hide. Please suggest how to link the Aadhar card with the Pan card. In future, the IT department might also ask to link property with Aadhar card. Should I remove my surname from everywhere or should I add my surname everywhere to maintain uniformity? What should be the best way with minimum expenditure to maintain a uniform name on all the records so as to avoid unnecessary harassment?

    — Ram Avtar Sharma, e-mail

    The Union government, through an amendment to tax proposal in the Finance Bill for 2017-18, had made mandatory for all the person holding a Pan card to be linked to the Aadhar card issued by the Unique Identification Authority of India (UIDAI). Otherwise, Pan will be considered invalid. The Central Board of Direct Taxes (CBDT) has extend the deadline to link both the cards to 31 December 2017.

    If you are a tax payer, you can link Aadhar by logging in to the website by entering your user ID, password and date of birth. Once you are logged in, click on the profile setting tab and select ‘Link Aadhar'. Enter your details such as name, date of birth and Aadhar number and click on ‘Submit' button after entering the captcha code. Now your Pan will be linked to Aadhar.

    An unregistered user can log in to www.incometaxindiaefiling.gov.in. Click on the link ‘Aadhar option'. You are required to enter your Pan number, Aadhar number, name as per the Aadhar card, captcha code shown on the screen and select the option if your Aadhar contains the year of birth only. Then click on link ‘Aadhar' button. The linking will be confirmed After verification from UIDAI.

    The other method is by sending SMS UIDPAN<Space><12 digit Aadhar No> <Space><10-digit Pan No> to 567678 or 56161, from the mobile number registered with the Aadhar database.

    If there is any mismatch between the Aadhar and Pan database, then you have to take the following precautions: Ensure the date of birth, gender and Aadhar number are as per Aadhar details. If the date of birth and gender is fully matched and the name as per Aadhar is not matched, provide Aadhar one-time password (OTP) to proceed with the patial name match.

    The linking will fail only if the name provided is completely different from the name given in the Pan database and there is mismatch in the date of birth and gender as per the databases.


    Our private limited company held its last annual general meeting (AGM) on 30 September 2016. As we were busy with the implementation of the goods and services tax and other issues, our accounts for the last fiscal are under preparation and are yet to be audited. The process in all probability will be over in the last week of October or the first week of November. When should we hold our AGM?

    — By RM, e-mail

    Section 96 of the Companies Act, 2013, stipulated that every company (other than a one-person company) must hold a general meeting each year in addition to any other meetings as its AGM.

    Not more than 15 months should elapse between the date of one AGM and that of the next. Thus, there can be a maximum interval of 15 months between two AGMs. The AGM should be held within six months from the date of closing of the financial year.

    The Registrar of Companies may, for any special reason, extend the time period within which AGM should be held by three months.

    Section 96 clearly suggests that the AGM should be held on the earliest of the three relevant dates: six months after the close of the financial year, 15 months from the previous AGM and the last day of the next calendar year, whichever is earlier.

    An offence by a company of not holding an AGM in accordance with Section 166 (corresponding Section 96 of the Companies Act, 2013) or not complying with any directions of the Central government will render the company and every officer of the company who is in default punishable with fine as prescribed.

    As such the last date for your company to hold the AGM was 30 September 2017. You should have applied to the Registrar of Companies for extension. As the accounts were still under preparation on 30 September, the AGM could have been called on 30 September and then adjourned pending finalization of the accounts.

    Section 96 of the Companies Act, 2013, only mandates that the AGM should be held within the prescribed time. It does not state that the meeting should also get completed within the prescribed time.

    A Companies Law Board (CLB) circular dated 02 February 1974 clarified that an AGM of the company can be adjourned by passing a suitable resolution if the annual accounts are not ready to be placed.

    However, in the case of Bejoykumar v the CLB, the Calcutta High Court held in 19814 that the CLB circular should not be used as the circumvention and subversion of the respective provisions of the Companies Act, 1956. The point of law should be ascertained. The law cannot override the provisions stipulated under Section 210 of the Companies Act. Also, the word ‘held' in Section 166 of the Act stipulates the meeting to be ‘held'. The word ‘held' should be followed by necessary implication that the meeting must be completed within the stipulated time. Thus, the AGM cannot be adjourned beyond the statutory limits laid down. The adjourned AGM should be held within the maximum time limit allowed under Section 96.

    Considering the provisions of Sections 96 and 137, every company must file the annual accounts with the registrar within 30 days of the AGM, whether the annual accounts are adopted or not, and within 30 days from the last date before which AGM should have been held, in case AGM has not been held.


    I have worked with two employers for two and 10 months in the financial year 2015-16. Now I have to file income tax (IT) returns to demonstrate that I have discharged my tax liability. The first employer gave me house rent allowance (HRA). Can I claim exemption and reduce my tax liability?

    — Mukund Rajashekhar, e-mail

    HRA is a special allowance given by an employer to the employee to pay rent of a residential accommodation. What makes it special is that it is not fully taxable. Subject to conditions given in Section 10(13A) of the IT Act, 1961, a certain amount of HRA allowance can be deducted from the total income, resulting in tax savings for the employee. IT exemption is given if the tax payer has paid rent.

    Under Section 10(13A) of the IT Act, HRA granted to a tax payer by his employer is exempt to the least extent of the rent paid (-) 10% of salary; 50% of salary if the rent is paid for accommodation in Mumbai, Kolkata, New Delhi or Chennai, otherwise, 40% of salary; and actual allowance received.

    Salary includes basic salary, dearness allowance (if in terms of employment) and commission as percentage of turnover achieved by the employee.

    Exemption is not available to a tax payer who lives in his own house or in a house for which he does not pay any rent. Thus, a salaried individual can claim exemption under Section 10(13A) if and only if he pays rent. Whether you work with one employer for two months and with another employer for 10 months is immaterial. You can claim HRA to the extent allowed by the IT Act.

    Normally HRA exemption is shown in Form 16 provided you have submitted the proof of payment of rent to your employer. If HRA is omitted in Form 16, you can claim exemption on it while filing your IT returns (ITR). You can deduct HRA exemption from gross salary and enter it as ‘Income from salary' in the ITR. You can claim refund for excess TDS deducted by the employer, if any.


    I purchased a duplex from a builder for Rs 14.50 lakh. I occupied the apartment in the same month of purchase, that is, January 2008. I took a loan of Rs 8.50 lakh from HDFC to buy the duplex. I am paying an instalment of the loan every month. The interest totalled about Rs 8 lakh from 2007 to 2016. Now I want to sell the property for Rs 49.50 lakh in the current financial year.  I want to know if I can add the interest amount in my purchase price while calculating the long-term capital gain.  I have spent Rs 3 lakh on furnishing of the apartment. Am I required to show proof of the amount spent on furnishing the apartment while calculating long-term capital gain as the improvement took place in the financial year 2012-13? My new house is under construction in Kerala. It will be completed by November 2017. Can I show the amount paid to the contractor in the current financial year while filing for long-term capital gain from the new house? What will be the long-term capital gain?

    — P John Philip, e-mail

    Interest paid on a housing loan or any other loan taken for acquisition of a residence is deductible while computing income under the head, ‘Income from house property'. There is a view that, even if interest has been allowed as deduction, it can also be claimed as part of the cost of acquisition of the house in computing capital gain when the house is sold. This view is controversial and there have been conflicting views of the IT Appellate Tribunal (ITAT).

    As per the Chennai ITAT, computation of income from house property and computation of capital gain are two different provisions. Neither of the provisions calls for excluding interest if it has been included under other provisions. Therefore, interest is deductible under both the provisions.

    However, a contrary view has been taken by the Banglore ITAT. It held that interest on housing loan is not deductible in computing capital gain when interest has been claimed as a deduction while computing income from house property.

    A safer view is to claim only interest in excess of limit under Section 24(b) of the IT Act, if any, as part of cost of acquisition as interest is not allowed as deduction while computing house property income.

    You have spent Rs 3 lakh on furnishing of the duplex. If you have incurred any cost on improvement such as renovation, repairs or others, you can deduct it while computing capital gain. No proof is required to be shown while filing ITR. Proof might have to be produced to the assessing officer at the time of assessment, if called for.

    You may take the benefit of Section 54 of the IT Act for the amount paid for new house under construction. The condition of this section is that you should purchase residential house property within one year before or two years after the date of transfer of old property or construct the house property within three years from the date of transfer. The amount of exemption will be cost of new residential house or capital gain, whichever is lower. Consult your chartered accountant for details.

    The replies are only in the nature of guidelines. The tax counsellors and the publication are not responsible for any decision taken by readers on the basis of the same. Readers may e-mail their queries on direct taxation to: tax-matters@capitalmarket.com

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