Linking Aadhaar with PAN Card Deadline Extended to June 30, 2023: Don't Risk Deactivation of Your PAN Card
The Income Tax Department has announced an extension to the deadline for linking Aadhaar with PAN Card. Taxpayers who have not yet linked their Aadhaar with their PAN are required to do so by June 30, 2023, to avoid the deactivation of their PAN card. The mandatory linking of both identification cards was introduced for all residents who were allotted a PAN as of July 1, 2017.
More Time for Taxpayers to Link PAN & Aadhaar
In a recent tweet, the Income Tax Department revealed that they were providing taxpayers with additional time to link their Aadhaar with PAN. The new deadline of June 30, 2023, allows people to intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing any consequences.
The Consequences of Not Linking PAN & Aadhaar
From July 1, 2023, unlinked PAN cards will become inoperative, which will have repercussions for taxpayers. However, if a person links their Aadhaar to the prescribed authority within 30 days of deactivation and pays a fee of Rs. 1,000, their PAN card can be made operative again.
Importance of Linking Aadhaar with PAN
The linking of Aadhaar with PAN is a crucial requirement that aims to streamline the tax filing process and prevent tax evasion. It enables the government to monitor the tax-paying status of individuals and ensures that all citizens pay their fair share of taxes.
Benefits of Linking Aadhaar with PAN
Linking Aadhaar with PAN offers several benefits to taxpayers. It reduces the need for documentation during the filing of Income Tax Returns (ITRs) and simplifies the process of tax return filing. Additionally, linking Aadhaar with PAN provides a unique identification number that helps in detecting fraudulent activities.
Conclusion
Taxpayers must link their Aadhaar with PAN before June 30, 2023, to avoid consequences. The Income Tax Department has provided ample time for linking cards, and it’s best to do so soon. Linking Aadhaar with PAN simplifies tax filing and prevents tax evasion.
