Saturday, February 4, 2023

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PAN Card Alert: Link your Pan card to Aadhar card or pay Rs 10,000!

PAN Card Alert: permanent account number is the medium to identify the taxpayers in our country. This 10 digit number card is one of the most important document that distinct every individual from one another. We get to know all tax-related information for any individual. All infomations are recorded against a single PAN number which acts as the primary key for storage of information.

Now Government has made mandatory to link PAN card to the Aadhar card. If the cardholder does not link the Permanent Account Number (PAN) to the Aadhaar card, the card will become inactive after March 2023. According to Central Board of Direct Taxes (CBDT), the PAN card which is not linked to Aadhar Card will be inactive after March 2023. Still people have more than three months to avoid the problems due to nonlinking of cards. If the linking is not done you have to pay hefty fine of Rs 10,000.

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PAN Card Alert: If cardholders do not link, they will only be able to use the PAN card until it expires in 2023. PAN card holders will no longer be able to open bank accounts, mutual funds, or stock accounts after this date. Furthermore, if you use a locked PAN card as a document anywhere, you may be subject to additional charges. Section 272B of the Income Tax Act 1961 also allows for a fine of up to Rs 10,000.

‘As per the Income Tax Act, 1961, the last date for linking PAN with Aadhaar is 31.3.2023 for all PAN holders who are not exempted,’ Income Tax India tweeted. PAN will become inactive if it is not linked to Aadhaar. ‘Don’t put it off, link today!’

Connect Aadhaar and PAN cards in this manner.

  • 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.
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