Pan Aadhaar Link: Pan Card and Aadhaar Card are important documents in India . These are not only used as identity cards, but they are also used for financial matters like income tax and to take advantage of other schemes of the government. PAN card is used to complete every financial work. From filing income tax returns to opening a bank account or buying a property, a PAN card is required for everything.
If you have not linked PAN and Aadhaar card (Pan Aadhaar Linking), then settle it by 30 June. Otherwise you may be in trouble after this. In this regard, the Income Tax Department has alerted the people by tweeting. PAN card holders should get PAN card linked to Aadhaar card by 30 June 2023.
It is mandatory to link PAN card with Aadhaar
Under the Income Tax Act, 1961, every citizen of the country who has been allotted PAN card on July 1, 2017 and it is mandatory for those people to link Aadhaar card with PAN card. The deadline for PAN and Aadhaar linking is going to end on June 30, 2023. Earlier this deadline was fixed as 31 March 2023.
However, later on March 28, the Finance Ministry had informed through a press release that for the convenience of taxpayers, the deadline for PAN Aadhaar linking has been extended to June 30. If you miss this date, then you will have to pay a penalty of Rs 1000 for this work. On the other hand, if the PAN card is not linked to the Aadhaar card by June 30, then your PAN will also become invalid.
These big losses will happen if the PAN card is invalid,
if you do not link the PAN card with the Aadhaar card till June 30, and in such a situation the PAN card is invalid, then you will suffer a huge financial loss. Without PAN card, you will not be able to file income tax return. On the other hand, if you invest in share market and mutual funds, then you will have to face problems there too. Apart from this, in case of invalidation of PAN card, the person will not get benefits like tax benefit and credit and also will not be able to take bank loan.
How to link PAN with Aadhaar
The earlier fixed fee for linking PAN with Aadhaar was Rs 500 till June 30, 2022. But from July 01, 2022 to June 30, 2023, a fee of Rs 1000 is being charged as a single challan, which will have to be paid before submitting the Aadhaar-PAN linkage request on the e-filing portal.
- Visit the Income Tax Department’s e-filing website www.incometax.gov.in to link Aadhaar to PAN card.
- Fill in the login details. After this go to the Quick section and enter your PAN, Aadhaar number and mobile number there.
- Then select the option of I validate my Aadhaar details.
- After this OTP will come on your registered mobile number, enter it here.
- Lastly, link PAN and Aadhaar by paying a penalty of Rs 1,000.
To address the frequently asked questions by people regarding the process of linking PAN card with Aadhaar, the Income Tax Department has given this link https://incometax.gov.in/iec/foportal/help/e-filing- link-aadhaar-faq You can collect other important information by visiting this.
