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For Indian residents, PAN and Aadhaar numbers serve as crucial documents of identification. The Income Tax Department of India issues PAN or the Permanent Account Number, whereas the Aadhaar card is issued by the UIDAI or Unique Identification Authority of India.
The PAN card is mainly used to regulate income tax in India for businesses and individuals and curb tax evasion. The Aadhaar card, on the other hand, is issued to all residents of India as ID and address proof. Linking PAN and Aadhaar has been mandated by India’s IT department.
In this post, we discuss how to link your Aadhaar to your PAN if you have missed the deadline for linking the cards and the consequences of not linking your PAN with your Aadhaar.
As per the circular issued by the government, the PAN-Aadhaar link last date was 30th June 2023, which has already passed. However, there are still many people in India whose PAN-Aadhaar is not linked yet. The good news is that you can still get your Aadhaar-PAN card linked despite missing the last date. All you need is to pay a penalty of INR 1000 to link PAN with Aadhaar before initiating the linking process.
Not getting your Aadhaar-PAN card linked will make your PAN card inoperative, and it will not fulfill many significant purposes. This will further cause trouble for the cardholder during many official tasks like opening bank accounts, filing income tax returns, and investing in shares and capital instruments. This will also levy penalties on the individual under different IT Act sections, including INR 10,000 under section 139A.
Taxpayers will also have to pay more tax since TDS or tax deducted at source and TCS or tax collected at source will be at a higher rate under sections 206AA and 206CC of the IT Act if the PAN card is not furnished during the procedure.
The list of people who come under the Exempted category of PAN-Aadhaar linking is as follows:
Here are some reasons why you must link Aadhaar to PAN card immediately:
As discussed above, not linking your PAN with Aadhaar makes the PAN card inoperative, which in turn may cause issues like:
However, as stated above, you may note that PAN operations can be restored within 30 days by linking the Aadhaar number to PAN after paying a fee of INR 1,000.
All those residents (taxpayers) of India who are not exempted from the category of PAN-Aadhaar linking and whose PAN-Aadhaar are not yet linked must do so immediately by paying a late penalty of INR 1,000. Individuals are required to pay the penalty payment first before linking their PAN and Aadhaar on the official portal of Income Tax. Make sure that you offer a valid PAN and Aadhaar number along with a valid mobile number while paying the penalty.
To activate a PAN Card that has become inoperative, you must pay a fine of INR 1000. Once the fine is paid, you can continue ahead to link your PAN and Aadhaar on the IT e-filing portal as mentioned in the steps below:
The late fee for linking PAN and Aadhaar can be paid by visiting the official Income Tax e-filing Portal. Several online payment gateways can be used for purposes like NEFT/RTGS, net banking, debit card, etc. However, you must have a bank account with an authorized bank such as Axis Bank, ICICI Bank, Bank of Baroda, Canara Bank, Bank of India, Central Bank of India, City Union Bank, Bank of Maharashtra, Federal Bank, HDFC Bank, Indian Bank, Indian Overseas Bank, IDBI Bank, IndusInd Bank, Jammu & Kashmir Bank, Karur Vysya Bank, Kotak Mahindra Bank, RBL Bank, South Indian Bank, Punjab & Sind Bank, Punjab National Bank, UCO Bank, State Bank of India, and Union Bank of India.
Once you make the late fee payment, you may proceed with the linking of the PAN and Aadhaar by following the steps below:
The last date for PAN-Aadhaar linking was 30th June 2023.
The Income Tax Department of India has made it compulsory to link PAN with the Aadhaar. Not linking the two will make the PAN inoperative.
No, people above the age of 80 years or super senior citizens are exempted from linking PAN with Aadhaar.
Yes, taxpayers who are linking PAN and Aadhaar should pay a penalty of INR 1,000 before requesting PAN-Aadhaar linking.
Yes, you can link PAN-Aadhaar with your mobile phone by visiting the official portal of income tax e-filing.
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An Aadhaar card is an imperative proof of identity for people in India. Most of the services and benefits in the country, like opening a.
Updated on Jan 28, 2024 Linking the Aadhaar Card with your bank account is a mandate issued by the government for everyone to adhere to..
Table of Contents Show What Happens if the PAN and Aadhaar Cards Are Not Linked? Who All Are Exempted from the Aadhaar and PAN linking? .
Table of Contents Show Procedure to Link Aadhaar with PAN after the Due Date Pay the Penalty Submit the Aadhaar-PAN Link Request – Online/Offline 1..
Aadhaar is a 12-digit number provided by UIDAI or the Unique Identification Authority of India that is used as proof of identity and address for.
UIDAI presents several options to download an Aadhaar card online. An Aadhaar card can be downloaded using your Aadhaar number, your Mobile Number, Aadhaar enrolment.
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