PAN-Aadhaar Linking: If you have not yet linked PAN with Aadhaar, then today is the last chance. After this your PAN card will become inactive, which means you will not be able to do many things.
The last chance to link PAN card with Aadhaar card will end today. This means that if you do not link it by June 30, 2023 i.e. today, then your PAN card will be of no use. This document will be completely useless. You will not be able to use PAN card anywhere. Also, will not be able to take advantage of many facilities. However, if you have already linked Aadhaar and PAN, then you do not need to worry.
PAN card is used for opening bank account, investing in fixed deposits, opening demat account and investing in mutual funds. If you are going to link your PAN and Aadhaar today, then you will have to pay the late fee. This amount will be 1000 rupees. PAN and Aadhaar can be linked only after making the payment, which will be confirmed by the Income Tax Department.
Will the government extend the deadline for linking PAN-Aadhaar?
In the ET report, quoting experts, it has been said that the government should increase the deadline for linking PAN and Aadhaar. Because if this is not done then many problems can arise. Experts have argued that the deadline for filing income tax return is 31st July, in which case the deadline for linking PAN is terminated on 30th June itself, for those taxpayers who have not linked PAN. Those people will have to face problems. On the other hand, some say that due to the end of the PAN linking deadline, many works can be pending, in which case the deadline for linking it should be increased by about 4 months.
What will not happen if PAN is not linked
- You will not be able to file the return. Last date for filing return is 31st July
- Late returns will not be processed
- Your tax refund will increase
- Amendment in income tax return will also not be allowed
- No interest will be earned on such refund
- TDS and TCS can be deducted at higher rate
- Such PAN will also affect banking transactions.
How to link pan with aadhaar
You can link PAN with Aadhaar by visiting the official website of Income Tax Department www.incometax.gov.in . The Central Board of Direct Taxes (CBDT) issued a notification on March 2022 saying that it is mandatory for all people to link Aadhaar with PAN.
