Aadhaar Pan linking last date is March 31, 2023; a penalty cost of Rs.1000 must be paid to start the linking process.
If individuals with Aadhar PANs that are not linked cross this deadline of March 31, 2023, their PANs will no longer be active or legitimate.
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What Advantages do the Aadhaar and PAN links offer?
Aadhar PAN Link is necessary for legal purposes and offers the following advantages:
- An essential document for all transactions is the Aadhaar Card. The Income Tax department has access to an audit trail of all transactions thanks to PAN card Aadhar Card Link.
- The procedure of filing an ITR will be simple because it will do away with steps like e-signing documents or giving receipts to the IT department. Aadhaar e-verification will be used to carry out these procedures automatically.
- The need for other documentation has significantly diminished thanks to the use of a Linking Aadhar to PAN Card.
- Aadhaar cards can be used to verify an individual’s identity and address. It has elevated the significance of this document for people.
- These two are crucial for completing the KYC process when opening bank accounts, thus Aadhar PAN Card link play important role.
All above are benefited to individual.
For Government, Tax evaders can be found using it as well. The issue of a person having several PAN cards was resolved by Aadhaar-PAN connection, which also decreased the likelihood of fraudulent actions.
Who requires Aadhaar and PAN to be linked?
The Income Tax website states that under Section 139AA of the Income Tax Act, “Any person who has been assigned a permanent account number (PAN) as of the first day of July, 2017, and who is entitled to get an Aadhaar number, shall intimate his Aadhaar number in the required form and manner.
In other words, before the deadline, such individuals must mandatorily Link PAN with Aadhaar (Presently, 31.03.2022 without fee payment and 31.03.2023 with prescribed fee payment).
Who does not require to link Aadhaar to PAN?
Someone who is not required to link Aadhar to PAN is:
- A resident of Assam, Jammu and Kashmir, or Meghalaya.
- A non-resident as defined by the Income Tax Act of 1961 if they were at least 80 years old at any point in the prior year.
- Not an Indian citizen, according to the Income Tax Act 1961.
Process of PAN and Aadhaar link:
PAN and Aadhaar can be linked both by Online and Offline modes in following ways:
- Without login into the income tax website, Adhar card PAN Card Link.
- After login into the income tax website, PAN can be link to Aadhar.
- PAN to Aadhaar Link can also be done by SMS.
- Manually Aadhar to PAN Link by completing a form.
How to Verify the PAN Aadhaar Link Status?
PAN Aadhaar Link Status can be checked by SMS and also in following steps:
- Step 1: Go to the “our services” option on the income tax portal.
- Step 2: The “Link Aadhaar” card is visible on the screen; click it.
- Step 3: Your PAN and Aadhaar card numbers must be entered into a window that will appear.
- Step 4: The status of your cards will be displayed in a pop-up window.
By following above four steps, one can get aadhar card pan card link status.
What effects would it have if your PAN Card Aadhaar were not linked?
- If the PAN and Aadhaar cards are not linked, filing an Income Tax Return (ITR) could be difficult.
- With an invalid PAN, pending refunds won’t be provided and pending ITRs won’t be processed.
- If PAN loses validity owing to non-linking, Income Tax will be withheld at a higher rate.
- An inoperative PAN prevents the conclusion of ongoing proceedings, such as those involving Defective Returns.
- When attempting to access certain government services, such as receiving subsidies, applying for a passport, opening a bank account, etc., it may be challenging if the PAN Card and the Aadhar Card are not linked.
- If the PAN Card and the Aadhaar Card are not linked, you could be subject to a fine of up to Rs. 10,000.