The PAN card of such people has become inactive. Despite this, those who are using inactive PAN in financial transactions can now face strict action under section 272B of the Income Tax Act. Under this section, a fine of up to ₹ 10,000 can be imposed on each such transaction. The government has started taking steps in this direction.

PAN-Aadhaar not linked?

The Income Tax Department says that if a person uses an inactive PAN, especially in high value transactions, then he can be fined separately in each case. This includes transactions such as opening or operating a bank account, investing in shares or mutual funds, purchasing property, applying for a loan and filing income tax returns.

How does PAN get deactivated?

If you have not linked your PAN to Aadhaar, it is declared inactive. Such PANs are now invalid for most tax and financial purposes. In such a situation, if a person uses this inactive PAN for financial purposes, it will be considered a violation of the law.

Keeping two PANs is also wrong

If a person has two PANs, it is wrong. The taxpayer should surrender one PAN. If he is caught making a mistake, a penalty will be decided after giving him an opportunity to explain the reason behind the act. If the reason is genuine and the mistake is made by mistake, no penalty will be imposed. So, if a taxpayer has two PANs, he should apply online for surrender of additional PAN by filling and submitting ‘Change or Correction in Existing PAN Data/Reprint of PAN Card’.

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PAN or Permanent Account Number is a 10 digit alphanumeric ID, which is an important legal identity card for Indians. This is your important document for the Income Tax Department, but it is very important that you have only one PAN card.

Holding two PAN cards is not allowed. If you are caught with two PAN cards, the Income Tax Department can take action against you.

What if I have more than one PAN?

According to the rules of the Income Tax Department, if you have more than one PAN, you can face a fine of up to Rs 10,000.

How to get two PAN cards?

There can be many reasons behind having two PAN cards, such as-

Multiple Applications:

It is possible that you may have applied for PAN and it has not arrived on time, so you may have to apply again. Two pans were made from this.

There is a mistake in PAN:

If there was a mistake in your PAN and instead of getting it corrected, you applied for a new one.

New PAN generated after marriage:

Women often change their surname after marriage, after which it has to be changed in their PAN also. There may be two cards in this position.

Reasons for fraud:

Some people also keep multiple PAN cards together for fraud, which is illegal.

How to surrender PAN?

You can apply for PAN surrender both offline and online.

How to surrender online?

You have to fill the PAN Change Request Application Form, on top of which you have to enter the PAN number you are using. Item No. In section 11 you will have to give details of the second PAN. A copy of this will also have to be attached and then submitted by visiting the NSDL website.

How to surrender offline

You have to fill Form 49A. Enter the details of the PAN card to be surrendered in the form. And submit this form to your nearest UTI or NSDL TIN Facilitation Centre. Be sure to keep its acknowledgment receipt.

Write a letter to the Assessing Officer of your jurisdiction. You can find out who is the jurisdictional officer of your area on the Income Tax Department website.

In this letter you will have to enter all the information entered in your PAN card. Details of the duplicate PAN card to be surrendered will also have to be given.

You should also verify and submit the copy of the duplicate card and the acknowledgment receipt received from NSDL TIN therein.

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One of the same is the linking of Aadhaar card with PAN card. In fact, information has been given by the Central Board of Direct Taxes (CBDT) that if the PAN holders do not follow the instructions given by the government till March 31, then their business and tax related facilities will stop working. Simply put, their account will be banned.

Explain that out of total 61 crore Permanent Account Number (PAN), about 48 crore have been linked to Unique Identification Number Aadhaar so far. There are 13 crore people whose PAN-Aadhaar has not yet been linked. Now the government has rung the alarm bell for these people and has also fixed the last date for linking.

The chance is till 31 March

People who do not do this till March 31, will not be able to get benefits in business and tax related activities. Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta said that several crore PANs are yet to be linked with Aadhaar, but this work is expected to be completed by the March 31 deadline. The government has made it mandatory to link PAN with Aadhaar.

For this, setting a deadline of 31 March 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 till March 31, a fee of Rs 1,000 will have to be paid for linking PAN with Aadhaar.

Card will be deactivated if not linked

The CBDT chief said that several awareness campaigns have been conducted regarding linking of PAN with Aadhaar and we have extended this deadline several times. If PAN is not linked with Aadhaar by the due date, the holder will not be able to get tax benefits as his PAN itself will not be valid after March. The CBDT, in a circular issued last year, has made it clear that once PAN becomes inoperative, the person concerned will 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 of making PAN a common identifier will be beneficial for the business world. Finance Minister Nirmala Sitharaman has announced in the budget that PAN will now be used by business establishments as a common identifier in the digital systems of government agencies.

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Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta said on Sunday that several crore PANs have not yet been linked to Aadhaar, but this work is expected to be completed by the end of the March 31 deadline.

Individual PANs not linked with Aadhaar will be declared inactive after March 31, 2023. Individual PANs not linked with 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.

Several awareness campaigns were conducted regarding linking of PAN with Aadhaar, the
CBDT Chief said, “Many 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.

The CBDT has made it clear in a circular issued last year that once the PAN becomes inactive, the person concerned 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 the announcement of making PAN a common identifier, 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 system of government agencies.

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PAN card is such a document which is very useful at the time of financial activity of the people. Income tax can be filed with the help of PAN card. The 10 character Permanent Account Number (PAN) issued by the Income Tax Department is one of the most important documents nowadays. PAN card is also issued by individuals and entities to prevent tax evasion as it records all the financial transactions done through a particular person or entity. Any Indian citizen can apply for PAN Card.

PAN card and aadhar card link

At the same time, the Income Tax Department has given an important information. Actually, for a long time people are being made aware to link PAN card with Aadhaar card. Such PAN card holders who have not yet linked PAN card with Aadhaar card have a few months more time.

आयकर अधिनियम, 1961 के अनुसार, पैन को आधार से लिंक करने की अंतिम तिथि, उन सभी पैन धारकों के लिए जो छूट की श्रेणी में नहीं आते हैं, 31.3.2023 है। पैन को आधार से लिंक न करने पर पैन निष्क्रिय हो जाएगा।
देर न करें, आज ही लिंक करें! pic.twitter.com/mrtqP7nqNL

— Income Tax India (@IncomeTaxIndia) November 18, 2022

last date

The Income Tax Department tweeted, ‘As per the Income Tax Act, 1961, the last date for linking PAN with Aadhaar, for all PAN holders who do not come under the exemption category, is March 31, 2023. If PAN is not linked with Aadhaar, PAN will become inactive. In such a situation, to save the PAN card from becoming inactive, link it with the Aadhaar card. There is another 4 months for this.

Link to Aadhaar

Along with this, the Income Tax Department has said that all those PAN holders who do not come under the exemption category as per Notification No. 37/2017 dated May 11, 2017 and who have not yet linked their Aadhaar with their PAN , they are requested to link PAN card with Aadhaar card as soon as possible. Explain that PAN can be linked with a valid Aadhaar card by paying a fee of Rs 1000 at www.incometax.gov.in .

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