PAN – Aadhaar linking mandatory by March 2023_ How to link PAN and Aadhaar card
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In Short
The Central Board of Direct Taxes (CBDT) made linking of PAN-Aadhaar mandatory.
PAN will become inoperative if not linked to Aadhaar by March 31, 2023.
People can link PAN-Aadhaar before
The Income Tax Department has issued a final warning for permanent account number-holders to link their number with Aadhaar card. According to the latest public advisory, if the PAN is not linked with Aadhaar before March 31, 2023, the PAN will become inoperative. Post deadline date, PAN holders will not be able to use their ten-digit unique alphanumeric number and financial transactions linked to PAN will be stopped. In addition, all the income tax pending returns will be stopped from processing.
Last date and fee for linking PAN-Aadhaar
The last date to link PAN with Aadhaar was extended by The Central Board of Direct Taxes (CBDT) from 31st March 2022 to 31st March 2023. However, people are required to pay a fee of Rs 1000 to initiate the linking process. According to the IT department advisory, if people fail to link PAN-Aadhaar till March 31, 2023 then their PAN number will become inoperative.
Why PAN is linked with Aadhaar
The government has made linking of PAN and Aadhaar number mandatory under current regulations. While the linking is a process for legal requirements, the process also benefits the government and taxpayers.
The Aadhaar number holds all the financial information of an individual. From big money transfers to UPI, the card holds all details. And linking PAN with Aadhaar will help IT departments track and note all the transactions of taxpayers to present fraud or tax evasion.
Linking PAN with Aadhaar also helps in spotting people with multiple PAN cards. As residents of India only have one Aadhaar, the liking of PAN will further track that Individual only carries one PAN card in their name.
PAN and Aadhaar will also simplify income tax return process and verification. Since Aadhaar holds all the information about an individual including biometric verification, the linking will initiate a faster return filing process.
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_________________________________________________________________________
My website : https://accountsprofession.in ___________________
Hello Friends,
Please subscribe to my channel.
In Short
The Central Board of Direct Taxes (CBDT) made linking of PAN-Aadhaar mandatory.
PAN will become inoperative if not linked to Aadhaar by March 31, 2023.
People can link PAN-Aadhaar before
The Income Tax Department has issued a final warning for permanent account number-holders to link their number with Aadhaar card. According to the latest public advisory, if the PAN is not linked with Aadhaar before March 31, 2023, the PAN will become inoperative. Post deadline date, PAN holders will not be able to use their ten-digit unique alphanumeric number and financial transactions linked to PAN will be stopped. In addition, all the income tax pending returns will be stopped from processing.
Last date and fee for linking PAN-Aadhaar
The last date to link PAN with Aadhaar was extended by The Central Board of Direct Taxes (CBDT) from 31st March 2022 to 31st March 2023. However, people are required to pay a fee of Rs 1000 to initiate the linking process. According to the IT department advisory, if people fail to link PAN-Aadhaar till March 31, 2023 then their PAN number will become inoperative.
Why PAN is linked with Aadhaar
The government has made linking of PAN and Aadhaar number mandatory under current regulations. While the linking is a process for legal requirements, the process also benefits the government and taxpayers.
The Aadhaar number holds all the financial information of an individual. From big money transfers to UPI, the card holds all details. And linking PAN with Aadhaar will help IT departments track and note all the transactions of taxpayers to present fraud or tax evasion.
Linking PAN with Aadhaar also helps in spotting people with multiple PAN cards. As residents of India only have one Aadhaar, the liking of PAN will further track that Individual only carries one PAN card in their name.
PAN and Aadhaar will also simplify income tax return process and verification. Since Aadhaar holds all the information about an individual including biometric verification, the linking will initiate a faster return filing process.
We are Provide Consultancy all these services
Gst Registration & Return filing
Income tax Return Filing
Msme Registration
Trademark Registration & Approval
Partnership Registration
Shop & Estabilshment Registration
Import Export Code Registration
Contact
Vijay Pal
vijaykpal58@gmail.com
join me for more quick updates:
Facebook : https://www.facebook.com/accountsprofession
Instagram: https://www.instagram.com/accountsprofession/
Twitter: https://twitter.com/pal_vijaykumar
Telegram: https://t.me/+UE8BIzqBm2M3ZjA1
Linkdin: https://www.linkedin.com/in/accounts-profession-975843140/
✅ Whats app group: https://chat.whatsapp.com/LQF5yTOo1B0BPsEhGsaUjM
_________________________________________________________________________
My website : https://accountsprofession.in ___________________