Pan Card Aadhaar Card Link: The Indian government has set a deadline of June 30, 2023, for all Permanent Account Number (PAN) holders to link their PAN with their Aadhaar card. Failure to do so by the deadline will result in the deactivation of the PAN card and the holder will no longer be able to avail any tax-related benefits. This move comes as a part of the government’s efforts to curb tax evasion and bring more transparency into the system.
According to the Central Board of Direct Taxes (CBDT), out of the total 61 crore PAN holders in India, about 48 crore have already linked their PAN with their Aadhaar card. However, there are still around 13 crore PAN holders who are yet to complete this process. The CBDT has been running awareness campaigns to encourage PAN holders to link their PAN with Aadhaar, but with the deadline fast approaching, it is important for PAN holders to take action and complete the process.
Linking PAN with Aadhaar has several benefits, including easy verification of identity and faster processing of tax returns. In addition, the government has announced in the budget that PAN will now be used by business establishments as a common identifier in the digital systems of government agencies. This move is expected to bring more efficiency and transparency into the system and make it easier for businesses to comply with regulatory requirements.
To link PAN with Aadhaar, PAN holders need to visit the official website of the Income Tax Department and follow the simple steps provided. It is important to ensure that the details provided on both cards match accurately, as any discrepancy may result in the linking process being rejected. In case of any discrepancy, PAN holders can update their details on either card and then proceed with the linking process.
The government has also announced a fee of Rs. 1,000 for linking PAN with Aadhaar, which needs to be paid before the deadline. The fee is aimed at encouraging PAN holders to complete the process before the deadline and avoid any inconvenience in the future.
Linking PAN with Aadhaar is a mandatory requirement for all PAN holders in India. Failure to do so by the deadline of June 30, 2023, will result in the deactivation of the PAN card and the holder will no longer be able to avail any tax-related benefits. It is important for PAN holders to take action and complete the process before the deadline to avoid any inconvenience in the future. The move towards using PAN as a common identifier in the digital systems of government agencies is a positive step towards bringing more efficiency and transparency into the system.