PAN Aadhaar Link: Don't Miss March 31 Deadline
Your PAN (Permanent Account Number) will become inoperative if it is not linked with Aadhaar by March 31, 2020.
On Monday, the Income Tax (I-T) department said it is "mandatory" to link PAN with Aadhaar and advised people not to "miss" the specified deadline of March 31.
The department said if PAN is not linked with Aadhaar by March 31, it will become "inoperative".
There are two ways to do PAN Aadhaar Link:
Send SMS to 567678 or 56161 in the format: UIDPAN12digit Aadhaar>10digitPAN>
From the e-filing portal of the department: www.incometaxindiaefiling.gov.in.
Don't miss the deadline!— Income Tax India (@IncomeTaxIndia) March 16, 2020
It is mandatory to link your PAN and Aadhaar before 31st March, 2020.
You can do it through Biometric Aadhaar authentication & also by visiting the PAN service centers of NSDL and UTITSL #PANAadhaarLinking
Link: https://t.co/JudH8IqpQb pic.twitter.com/igAfV8vJUi
The Central Board of Direct Taxes (CBDT) that frames policy for the I-T department extended the deadline for this PAN Aadhaar link for the eighth time on December 30 last year.
"If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees," according to Section - 272B, Income Tax Act, 1961.
If individuals fail to link their PAN card with Aadhaar, there are various complications that individuals could face as it will become inoperative from April 1.
Individuals who fail to link PAN card with Aadhaar can use the PAN card as ID proof for non-tax purposes like opening a bank account or for a driving licence without penalty. But if any financial transactions citing inoperative PAN more than Rs 50,000 could attract a penalty.
If an individual is unable to link his/her PAN card misses the deadline, it will become inoperative from April 1. Though, it will be operative again once the individual links the PAN card with the Aadhaar card.