The Importance of Linking PAN and Aadhaar Cards before the Last Date 2023
The deadline for tying PAN and Aadhaar together is today, June 30. Do it by the end of the day if you still need to connect your PAN and Aadhaar.
The Indian government has emphasized linking Aadhaar and PAN cards to streamline financial transactions and ensure transparency. The linkage process has been ongoing for several years, with multiple extensions granted to allow individuals sufficient time to complete the task.
However, recent announcements suggest no further extensions will be provided, urging citizens to link their PAN and Aadhaar cards as soon as possible.
The deadline for tying PAN and Aadhaar together is today, June 30. Do it by the end of the day if you still need to connect your PAN and Aadhaar. No more extensions are anticipated this time because the deadline to link Aadhaar and PAN has been postponed several times.
The Income Tax Department stated in April 2023 that PAN card holders may connect their PAN and Aadhaar till June 30. This was the final extension of the PAN-Aadhaar link deadline.
The linking of Aadhaar and PAN cards has several benefits for individuals and the government. It helps curb tax evasion, prevents the creation of fake or multiple PAN cards, and promotes a more efficient and hassle-free filing of income tax returns. Integrating these two identification systems also facilitates verification, making it easier for individuals to access various government services and subsidies.
Initially, the deadline for linking Aadhaar and PAN cards was set for June 30, 2017, but the government extended the deadline multiple times due to the vast number of pending linkages. The latest deadline, which was set for March 31, 2021, saw another extension due to the disruptions caused by the COVID-19 pandemic. However, with the situation gradually improving and the government’s push for compliance, it is likely that further extensions will be granted.
Linking your Aadhaar and PAN cards is a relatively straightforward process. It can be done online through the income tax department’s e-filing website or by visiting designated PAN service centres offline. The online method requires individuals to provide their PAN and Aadhaar numbers and their names as per the respective cards. An OTP (One-Time Password) is then sent to the registered mobile number linked to the Aadhaar card for verification. Once the OTP is entered, the linkage is completed.
For those opting for the offline method, the process involves filling out a form (Form 49A) at the PAN service centres and submitting it along with the necessary supporting documents, including copies of the PAN and Aadhaar cards. The form can also be downloaded from the official income tax department’s website. An acknowledgement receipt is provided upon submission, which serves as proof of the linkage.
It is important to note that failure to link Aadhaar and PAN cards can result in the deactivation of the PAN card. This deactivation could lead to various inconveniences, such as difficulties in filing income tax returns, conducting financial transactions above a certain threshold, and accessing government services. Therefore, individuals must prioritize this task and complete the linkage immediately.
Moreover, linking Aadhaar and PAN cards is not restricted to Indian citizens alone. Non-resident Indians (NRIs) who possess a PAN card must also connect it with their Aadhaar card. This helps establish a verifiable connection between the individual’s PAN details and their Aadhaar information.
As the deadline for linking Aadhaar and PAN cards approaches, it is advisable for all individuals who still need to complete the process without further delay. The government has clarified that no additional extensions will be granted, indicating the need for immediate action. It is in the best interest of individuals to avoid any potential inconveniences and ensure compliance with the government’s directives.
One shouldn’t wait for another extension because the previous deadline is ending today. Instead, you may visit the website for Income Tax e-filing and finish the connection procedure there in a matter of minutes.
If it becomes inoperative, you won’t be able to provide, reveal, or cite your Permanent Account Number (PAN). You would also be responsible for all Act-related penalties for such a failure.
According to information on the Income Tax website, the following are some of the most significant effects of not integrating PAN and Aadhaar.
First, you won’t be eligible for a refund of any owed or portions of taxes.
Second, no interest will be due on such a return from when your PAN became inactive until you make it active again by connecting with your Aadhaar.
Third, following Income Tax regulations, a higher tax rate will be deducted (TDS).
Fourth, under section 206CC, a tax that is collectable at source (TCS) will be collected at a higher rate.
But if you link your PAN to your Aadhaar and pay an Rs. 1000 charge, you may make it active again.
The Aadhaar-PAN link is an essential requirement for all individuals in India. The deadline for linking these two cards has been extended multiple times, but further extensions will likely be provided. Therefore, citizens must take the necessary steps and link their Aadhaar and PAN cards as soon as possible to avoid any complications in the future.
