The government made it obligatory to connect a PAN card to Aadhaar. The date of the deadline, March 31 2023 has been set. Of the total PANs of 61 crores, approximately 48 million have been linked to Aadhaar up to now. Those who haven’t done so before March 31 will not be eligible to enjoy benefits from taxes and business-related actions. Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta stated on Sunday that a number of crore PANs haven’t been connected to Aadhaar however, the process is scheduled to finish by the close of the March 31 deadline.
Individual PANs that aren’t linked to
Aadhaar is set to be inactive on March 31st, 2023. Individual PAN card that is not linked to Aadhaar is declared to be inactive following this date. In addition, the government has announced that, from now until April 31, 2019, a cost of Rs 1,000 will need to be paid to connect a PAN to Aadhaar.
There were several awareness campaigns held to link PAN with Aadhaar.
CBDT Chief stated, “Many awareness campaigns have been carried out to promote linking of PAN and Aadhaar as well as we’ve extended the deadline multiple times. Should Aadhaar is not connected to a PAN by the deadline and the holder is not linked, then he is not able to enjoy tax benefits because his PAN is not valid until March. The CBDT has stated in a circular it issued in December of last year that once the PAN is no longer active the individual concerned must face all penalties imposed by the Income Tax Act. This includes cases such as not filing income tax returns or inability to process pending returns.
Along with the announcement about the making of PAN an identifier that is common to all. He said his budget proposal that making PAN an identifier that is common to all is beneficial to the business community. Finance Minister Nirmala S. Sitharaman stated within the Budget. Business establishments will be able to utilize PAN as a standard identifier. Within the system of digital identification used by government agencies.
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