Aadhar-PAN Linking: Don’t take linking lightly; Know advantages, disadvantages

Aadhar-pan linking: The deadline of Aadhaar card-Pan card linking is at hand. The central government has set March 31, the last day of linking the Aadhaar-PAN. After the linkage of both the documents you can avail many benefits but you have not linked your documents before the deadline then your cards will be deactivated and you have to face many problems. (Aadhar-pan linking)

There are many advantages of linking PAN card and Aadhaar card. Here are details:

• By linking Aadhaar and PAN, the Income tac department gains access to an audit trail of all transactions, making the Aadhaar card an essential document for all transactions.
• You will not be able to file an ITR unless your Aadhaar-PAN is linked.
• Once linked, ITR filing will be simplified because there will be no need to submit receipts or e-signature.
• The usage of an Aadhaar card has greatly reduced the requirement for other documents.
• Aadhaar card serves the purpose of identity proof and address proof.
• Transactions can be tracked after linking, which helps to prevent fraud and curb tax evasion.

The Central Board of Direct Taxes (CBDT) imposed a Rs 1000 late penalty for linking Aadhaar with PAN after June 30. No one will be able to link their PAN to their Aadhaar unless they pay the late fee. PAN and Aadhaar numbers can be linked until March 31, 2023.

Aadhar-pan linking

• Navigate to the official Income Tax website.
• Navigate to the Quick Links section and select Link Aadhaar.
• In a new window, enter your Aadhaar number, PAN, and mobile number.
• Select the ‘I validate my Aadhaar details’ option.
• You will be sent an OTP to your registered phone number. Fill it out and press the ‘Validate’ button.
• Your PAN will be linked to your Aadhaar after you pay the fine.