If you are thinking of making a new PAN card for yourself or a family member, then definitely read this news. You will need to have Aadhaar to make a PAN card.
The Central Board of Direct Taxes (CBDT) has implemented a new rule. Under this, Aadhaar number and Aadhaar verification will be necessary for a new Permanent Account Number (PAN) card from July 1. Let us tell you that till now Aadhaar was not necessary to make a PAN card. Any valid identity card and birth certificate was sufficient for this. But under the new rule, Aadhaar has now been made mandatory.
Why was this change made
Experts say that this step of Aadhaar-based verification has been taken to promote digitization and ensure accountability and compliance in tax filing. This will help in preventing tax evasion. Also, strict action can be taken against those who hide income. Let us tell you that for existing PAN card holders, the last date for linking Aadhaar with PAN is December 31, 2025, without any penalty. PANs not linked to Aadhaar will become inactive from next year.
You will not be able to make a fake PAN
Experts say that making Aadhaar mandatory for making PAN will stop fake PANs. Even now many fraudsters are doing wrong things by making fake PANs. Now all this will not be possible due to Aadhaar biometric. According to the Income Tax Department, no person is allowed to have more than one PAN card. If someone is found to have more than one PAN, then a fine of Rs 10,000 can be imposed on him.
Most Read Articles:-
- What happens if a credit card holder dies without paying in India
- Flight Cancelled: Air India suspends flights to and from Middle East, amid Iran-Israel war
- Income Tax: Taxpayers urge I-T department to release excel utilities of ITR-2, ITR-3
- THESE UPI chargeback rules will come into force from July 15. Check details here
- HDFC Bank Credit Card Major Changes – Bank will implement New Charges and Limits on Many Expenses