NEW DELHI: The Financial Action Task Force (FATF) acknowledged India’s efforts in recovering public assets lost to financial crimes, highlighting a money laundering case where land confiscated by the Enforcement Directorate (ED) was identified for the construction of a new airport that would serve the public.The acknowledgment comes in FATF’s latest 340-page report titled ‘Asset Recovery Guidance and Best Practices,’ cited by PTI, which documents how countries can strengthen their systems to trace, freeze, manage and return proceeds of crime. The Paris-based FATF sets global standards for combating money laundering and terrorist financing.“The report outlines practical measures for policy makers and practitioners to identify, trace, freeze, manage, confiscate and return assets derived from criminal activity…” it said. “The guidance serves as a benchmark for countries to enhance their national frameworks and align with emerging best practices,” the Enforcement Directorate (ED) said in a statement.The report references several ED investigations involving recovery and restoration of assets to victims. These include the alleged Rose Valley Ponzi scheme, a drug trafficking case where the US sought India’s assistance leading to seizure of Bitcoins worth Rs 130 crore, and coordination between the ED and Andhra Pradesh Police CID to restore Rs 6,000 crore to victims of an alleged investment fraud.Another case cited involves the alleged diversion of public funds in a Maharashtra-based cooperative bank. The ED restored benami assets worth Rs 280 crore to compensate affected account holders after auctioning the properties. According to officials, the report noted that the confiscated properties “have been identified as a site for construction of new airport, to build infrastructure in India for the benefit of society at large”.“The contribution of India and the ED to this global effort has been substantial and widely acknowledged,” the agency said, as quoted by PTI. It added that India’s legal framework under the Prevention of Money Laundering Act (PMLA), along with operational experience, shaped key aspects of the global guidance related to value-based confiscation, provisional attachment and inter-agency coordination.The ED said the inclusion of Indian case studies “underlines the credibility of India’s enforcement mechanisms and the value of its experience in shaping future global standards.”According to FATF, the guidance aims to bring “tangible” improvement in the confiscation and return of criminal assets by enforcement agencies worldwide.

Marks and Spencer’s profits have fallen by more than half, following the major cyber attack it suffered earlier this year.

The hack impacted app and website orders, meaning online home and fashion sales plunged more than 40 per cent when the company had to stop taking orders.

However, the total stated impact so far is significantly lower than the £300m estimate the company gave in May.

M&S said the cost of the attack is set to total around £136m, including about another £34m in the final six months of its financial year, but it was able to recover £100m in its first half through an insurance payout for the hack.

In the aftermath of the attack, M&S announced 12 new food stores would open, including eight by summer 2026. An additional 550 jobs are expected to be created through the expansion.

The retail giant reported its underlying pre-tax profits tumbled 55.4 per cent to £184.1m in the six months to 27 September.

On a reported basis, profits were almost wiped out, plunging to £3.4m from £391.9m a year ago.

The group said sales in its fashion arm dropped by 16.4% as the cyber attack wrought havoc, with sales online down 42.9% and 3.4% lower across its stores.

The high street stalwart stopped all online sales for around six weeks and suffered empty shelves due to disruption to its logistics systems after hackers targeted the business around the Easter weekend.

Customer personal data – which could have included names, email addresses, postal addresses and dates of birth – was also taken by hackers.

Stuart Machin, chief executive of Marks and Spencer, said: “The first half of this year was an extraordinary moment in time for M&S.

“However, the underlying strength of our business and robust financial foundations gave us the resilience to face into the challenge and deal with it. We are now getting back on track.”

He said the group also faced cost increases of more than £50 million from the national insurance hike in April over its first half, but that he expects profits to be “at least in line with last year” in the final six months of its financial year as it ramps up its cost-cutting target to £600 million.

“The retail sector is facing significant headwinds… but there is much within our control and accelerating our cost-reduction programme will help to mitigate this,” he added.

In May, Mr Machin said the attack, which was caused by “human error”, was expected to cost the company around £300 million, before insurance claims or cost reductions to offset the impact.

M&S reported a surge in activity after its clothing, home and beauty sales returned online but some competitors such as Next saw market share grow during the period of disruption, suggesting some online shoppers went elsewhere.

Additional reporting by PA

Last Updated:November 05, 2025, 13:36 IST

CBDT sets December 31, 2025, as the last date to link PAN with Aadhaar. From January 1, 2026, unlinked PANs become inoperative, affecting tax filing and refunds.

PAN-Aadhaar Link Deadline: Permanent Account Number (PAN) will become inoperative for those holders who are unable to link it with their Aadhaar card from January 01, 2026, affecting the ability to file income tax returns and get refunds.

The Central Board of Direct Taxes (CBDT) has fixed December 31, 2025, as the last day to link PAN with Aadhaar card for those who receive the cards before October 01, 2025, failing which the services will be discontinued.

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued by the Income Tax Department. PAN enables the department to link all transactions of the “person” with the department. These transactions include tax payments, TDS/TCS credits, returns of income, specified transactions, correspondence, and so on. PAN, thus, acts as an identifier for the “person” with the tax department.

The income tax department with the aim to eradicate misuse and fraud, made it mandatory for holders to link with Aadhaar card, in case they are being issued without the linking. The department had extended deadlines several times to give the enough time to holders. It has also imposed a penalty for those who fail to link PAN with Aadhaar in due time.

The services that will be affected if a person fails to link PAN with Aadhaar:

1) The person shall not be able to file return using the inoperative PAN

2) Pending returns will not be processed

3) Pending refunds cannot be issued to inoperative PANs

4) Pending proceedings as in the case of defective returns cannot be completed once the PAN is inoperative

5) Tax will be required to be deducted at a higher rate as PAN becomes inoperative

How To Link Aadhaar With Pan Card Online

Linking Aadhaar with PAN Online (Pre-Login, Without Logging In)

This method is suitable for both registered and unregistered users of the Income Tax e-Filing portal. Visit the Income Tax e-Filing Portal: Go to the official Income Tax e-Filing website: www.incometax.gov.in.

• Access the Link Aadhaar Option: On the homepage, under the Quick Links section, click on Link Aadhaar.
• Enter PAN and Aadhaar Details: Input your 10-digit PAN number and 12-digit Aadhaar number.
• Enter your name as per Aadhaar.
• Check the box “I agree to validate my Aadhaar details”.
• Click Validate.
• Pay the Penalty (if applicable): If you are linking after December 31, 2025, a pop-up may appear stating “Payment details not found”, indicating that a Rs 1,000 penalty is required.
• Click Continue to Pay Through e-Pay Tax.
• Enter your PAN, confirm the PAN, and provide your mobile number to receive an OTP.
• After OTP verification, you’ll be redirected to the e-Pay Tax page.
• Select Assessment Year as 2025-26, Type of Payment as Other Receipts (500), and Sub-type of Payment as Fee for delay in linking PAN with Aadhaar.
• The penalty amount (Rs 1,000) will be auto-filled under Others. Click Continue.
• Choose your payment method (net banking, debit card, NEFT/RTGS, or payment gateway) and complete the payment. A challan will be generated.
• Submit the Linking Request: Return to the Link Aadhaar section on the e-Filing portal.
• Re-enter your PAN, Aadhaar number, and name as per Aadhaar.
• Enter your mobile number linked to Aadhaar to receive a 6-digit OTP.
• Enter the OTP and click Validate.

How To Check Aadhaar-PAN Link Status Online

1. Visit the Income Tax e-Filing Portal:
   • Go to www.incometax.gov.in.
2. Access the Link Aadhaar Status:
   • On the homepage, under the Quick Links section, click on Link Aadhaar Status.
3. Enter Details:
   • Input your 10-digit PAN number and 12-digit Aadhaar number.
   • Click View Link Aadhaar Status.
4. Check the Result:
   • Linked: You’ll see a message like, “Your PAN is already linked to the given Aadhaar.”
   • Not Linked: The message will state, “PAN not linked with Aadhaar. Please click on ‘Link Aadhaar’ to link.”
   • Pending: If the linking request is under process, it will say, “Your Aadhaar-PAN linking request has been sent to UIDAI for validation.”

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

Read More