PAN Card: According to Income Tax, PAN owners who do not fall into the Exempt category must link their PAN with their Aadhaar before March 31, 2023.
Have you connected your PAN to your Aadhaar?
And if it hasn’t been done, do it right now to avoid having your problems get worse. Your PAN might not be in use.
The Income Tax Department has informed all PAN card holders that linking their PAN with their Aadhaar before March 31, 2023, is crucial for all PAN card holders who do not qualify for an exemption.
According to the Income Tax Act of 1961, PAN holders who do not fall under the Exempt category must link their PAN with their Aadhaar before March 31, 2023.
According to a tweet from the Income Tax Department. PAN cards that aren’t connected to Aadhaar will inactivate, or lose their validity.
In fact, the CBDT issued a notification in March 2022 stating that starting on April 1, 2022, it will be compulsory to link Aadhaar with PAN.
Additionally, starting on April 1, 2022, there was a penalty for integrating PAN and Aadhaar.
A penalty of Rs 500 was levied for associating PAN with Aadhaar for the first three months after April 1, or until June 3, 2022. After this time frame, the rule of a penalty of Rs 1000 was put into effect.
By issuing its order, the CBDT made it clear that the deadlines for linking PAN-Aadhaar Aadhaar will not be prolonged until March 31, 2023.
Which the tweet makes apparent as well. In any case, the government has repeatedly postponed the date for integrating PAN and Aadhaar.
You won’t be allowed to invest in mutual funds if your PAN and Aadhaar are not linked.
The ability to open a bank account with a demat account will also be denied to both. PAN cards are now required for all of these.
You won’t be able to use such a feature when providing a PAN card is required if the PAN card is locked as a result of not linking your Aadhaar card and PAN card.
Therefore, if you haven’t linked your PAN and Aadhaar card, you must do so before March 31, 2023, or face an Rs. 1000 fine.
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