Pan Card Update News: There is a big shock for crores of people having PAN card. If you also use PAN card, then necessary notification has been issued by the government. This will affect 13 crore people.
Pan Card Latest News: There is a big setback for crores of people having PAN card. If you also use PAN card, then necessary notification has been issued by the government. According to the notification, PAN cards of more than 13 crore people can be canceled by the government. CBDT has told that out of 61 crore PAN card users, 48 crore people have so far linked it with their Aadhaar card. At the same time, 13 crore people have still not linked their PAN card with Aadhaar.
CBDT gave information
Giving information, the CBDT has told that if this is not done by March 31, then they will not be able to get benefits in business and tax related activities. Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta has given this information in a conversation with the media. He said that several crore PANs have not been linked to Aadhaar even now, but this work is also expected to be completed by the end of March 31.
Pan card will be useless
Let us tell you that the central government has made it mandatory to link PAN with Aadhaar. For this, setting a deadline of March 31, 2023, it has been said that individual PANs not linked to Aadhaar will be declared inactive after this date. Along with this, the government has said that from the present time to March 31, a fee of Rs 1,000 will have to be paid to link PAN with Aadhaar.
Will not get tax benefit
The CBDT chief has said that several awareness campaigns have been conducted regarding linking of PAN with Aadhaar and we have extended this deadline several times. If Aadhaar is not linked to PAN by the stipulated time, then that holder will not be able to get tax benefits as his PAN itself will not be valid after March.
Finance Minister had announced in the budget
The CBDT has made it clear in a circular issued last year that once the PAN becomes inoperative, the concerned person will have to face all the consequences prescribed under the Income Tax Act. This includes situations like non-filing of income tax returns and non-processing of pending returns. Along with this, he said that the budget announcement to make PAN a common identifier will be beneficial for the business world. Finance Minister Nirmala Sitharaman has announced in the budget that business establishments will now be able to use PAN as a common identifier in the digital systems of government agencies.
