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Aadhaar-PAN linking deadline to end soon: Here`s how to link it
Furthermore, if your PAN is not linked to a bank account, you will be required to pay double TDS (Tax Deduction at Source).
Highlights
- Furthermore, if your PAN is not linked to a bank account, you will be required to pay double TDS (Tax Deduction at Source).
- If your bank account is seeded with your PAN, you must pay a 10% TDS.
- According to Section 139AA of the Income Tax Act, any individual who had a PAN on July 1, 2017 and was eligible for Aadhaar must link their PAN to their Aadhaar.
New Delhi: The deadline for linking your Permanent Address Number (PAN) with your Aadhaar is quickly approaching, with the deadline set for March 31. One of the most critical things the government wants you to complete by the end of this month is linking your PAN with your Aadhaar number. Though the Central Board of Direct Taxes, or CBDT, has repeatedly postponed the deadline for linking Aadhaar and PAN, the department has made it plain that completion of the assignment is required. If you do not complete the process within the time frame specified, your PAN will become inactive.
Following the coronavirus outbreak in the country, the Central Board of Direct Taxes (CBDT) has already relaxed numerous income tax reporting dates. If a PAN becomes inoperative, the income tax agency will consider the individual to have failed to file a PAN and will consequently hold the individual accountable for the consequences.
Furthermore, if your PAN is not linked to a bank account, you will be required to pay double TDS (Tax Deduction at Source). If your bank account is seeded with your PAN, you must pay a 10% TDS.
According to Section 139AA of the Income Tax Act, any individual who had a PAN on July 1, 2017 and was eligible for Aadhaar must link their PAN to their Aadhaar. When completing an income tax return, the taxpayer must include their Aadhaar number. If the PAN is not linked to Aadhaar by the due date, it will become inactive. Section 139AA requires you to include your Aadhaar number while applying for a new PAN card.
Check if your PAN and Aadhaar Card is linked or not?
1) Browse the income tax department's official website, www.incometax.gov.in.
2) Select the Quick Links tab. There is an option to check the 'Link Aadhaar Status' there. You must click on that.
3) You will then see a new screen on your computer or mobile device. You must enter your PAN and Aadhaar numbers here.
4) Once you've completed the form, click 'View Link Aadhaar Status.'
5) The page will reveal the status of your Aadhaar-PAN. If they are linked, your PAN (PAN Aadhaar) is linked to your Aadhaar number (Aadhar Number).
Here's how to link PAN and Aadhaar
You can connect your PAN to Aadhaar in a variety of ways. For starters, you can do it online in two ways: without logging into the income tax portal or after logging into your account. To link your PAN and Aadhaar, you must give your PAN and Aadhaar details, as well as other information.
Apart from these options, thanks to new updates from Aadhaar issuing institution Unique Identification Authority of India (UIDAI), you can also link your Aadhaar card to your PAN card by SMS. Send an SMS from your registered phone number to either 567678 or 56161 to begin the connection procedure.
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