If you are going to file your income tax returns this year, this is an important read. It is mandatory to link your Aadhaar with PAN to file your income tax returns. The last date to link your Aadhaar with a PAN card is extended till March 31, 2022.
In case someone fails to link, the PAN card will become inoperative. If someone links the cards after the deadline, they will be liable to pay a penalty of Rs 500 if they link within the first three months after the deadline. After three months, the penalty amount will be increased to Rs 1000.
This article explains the procedure to link your Aadhaar and PAN cards so that you can be ready for the tax-filing season.
When filing your ITR, it is crucial to link PAN with Aadhaar unless the taxpayer is exempted under some instances. These include the following:
You need to send an SMS to 567678 or 56161 from their registered mobile number in the following format:
UIDPAN<SPACE><12 digit Aadhaar><Space><10 digit PAN>
Sample PAN: AKPLM2124M
Sample Aadhaar: 123456789123
Example SMS: UIDPAN 123456789123 AKPLM2124M
An Aadhaar card provides multiple benefits to a user, including Direct Benefit Transfer, Jan Dhan Yojana accepting Aadhaar, etc. Similarly, your PAN card is used for various financial transactions every day.
Therefore linking the two documents will allow the government to curb incidents of tax evasion and track every transaction. So, link your Aadhaar with PAN if you haven’t already!
Disclaimer: The views expressed here are of the author and do not reflect Groww.