PAN-Aadhaar Linking Update: Good news for those who have yet not linked their PAN-Aadhaar. The deadline for the PAN-Aadhaar Linking is extended to June 30, 2023. Earlier, the income tax department has made it mandatory to link the PAN with Aadhaar card by March 31, 2023. (PAN-Aadhaar Linking Update)
Central Board of Direct Taxes (CBDT) has made mandatory to link PAN with Aadhar card. Your PAN card will be closed, and your problems will begin.
The I-T department has also put up links on its website for taxpayers to check whether their PAN is linked to Aadhaar or not. On the other hand, if you want to link your PAN and Aadhaar, then according to the CBDT, you will have to pay a fee of Rs 1,000.
Link your Aadhaar-PAN this way
- Visit the official Income Tax website.
- Visit 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.
Advantages of linking PAN-Aadhaar. 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.
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