Pan Card Holders Alert: The deadline for PAN-Aadhaar linking is nearing. Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said that out of the total 61 crore Permanent Account Numbers (PAN) issued to individuals so far, about 48 crore have been linked with Aadhaar so far. According to news agency PTI, Gupta said that those who do not link it by the announced deadline of March 31 will not get benefits during various business and tax related activities.
The linking of these two documents has been made mandatory by the government and individual PANs linked to Aadhaar will not be deactivated till the end of this financial year (March 31, 2023). Between now and March 31, Rs 1,000 has to be paid to link your PAN and Aadhaar.
Gupta had told during the post-Budget interview, “So far about 61 crore individual PANs have been issued and out of this about 48 crore have been seeded with Aadhaar. The gap is now around 13 crore, including the exempted category, and we hope the rest will be added by the last date.
Pan card will not be valid
He said that we have run several public campaigns and have extended the deadline several times urging the taxpayers to link the two… Those category of taxpayers who are required to do so but they do not link them, then they are entitled to tax benefits. will lose as their PAN will no longer be valid after March.
Link aadhaar and activate closed pan card again
As per the new section 234H of the Income Tax Act, a person can link PAN card with Aadhaar by paying a fee of Rs 1000 on the tax department’s website www.incometax.gov.in.
PAN card is a picture identification card that is recognized by all Indian government and non-government departments. Linking of Aadhaar and PAN card is essential for the Income Tax Department as Aadhaar is biometric based and cannot be obtained on the basis of any other identity card.
According to the department, the main objective behind linking of PAN and Aadhaar is to reduce the number of duplicate PANs and improve tax compliance. At the same time, it was told that if the PAN becomes inactive, then it will become active again after linking it with the Aadhaar card.