- Advertisement -
Home FINANCE PAN Holders exemption: Good news! These people got exemption for linking PAN...

PAN Holders exemption: Good news! These people got exemption for linking PAN Aadhaar, check details

0

As per the instructions of the Ministry of Finance, the Central Board of Direct Taxes (CBDT) has made it mandatory to link PAN with Aadhaar.

But, according to the new instructions, some consumers have been exempted from linking PAN Aadhaar. In such a situation, it is important for you to know whether you also come under this exemption or not.

According to CBDT, the last date for linking Aadhaar PAN has been extended to 30 June 2023, which was earlier 31 March 2023. The Central Board of Direct Taxes has definitely given 3 months time to PAN users to link it with Aadhaar, but users should not only wait for the deadline, but should get rid of it by linking PAN Aadhaar now.

PAN will be activated on depositing Aadhaar link fee

The Central Board of Direct Taxes has said that if a user’s PAN becomes inactive, he will have to pay a fine of Rs 1,000 for linking it with Aadhaar. The PAN will be reactivated in 30 days on reporting Aadhaar to the prescribed authority after payment of a fee of Rs 1,000.

CBDT has exempted some people from linking PAN Aadhaar. These include residents of the states of Assam, Jammu and Kashmir and Meghalaya as well as other types of members. However, people falling in the exempted category can voluntarily link PAN and Aadhaar.

Aadhaar-PAN linking exempted for these people

  • The requirement of linking Aadhaar with PAN does not apply to four categories of users-
  • 1) Residents of the states of Assam, Jammu & Kashmir and Meghalaya.
  • 2) Non Resident Indian (NRI) as per Income Tax Act 1961.
  • 3) Any person who was of the age of 80 years or more at any time during the previous year.
  • 4) Persons who are not citizens of India.
  • Those who fall in any of the above categories are not required to link their PAN with their Aadhaar till the deadline.

-Advertisement-

Exit mobile version