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 June 30, 2023.
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 income tax return, it is crucial to link PAN with Aadhaar unless the taxpayer is exempted under some instances. These include the following:
Note - It is mandatory to link your Aadhar Card with PAN Card before 30th June 2023 as per the regulations of the Government of India. If it is not linked within the stipulated time, the PAN Card will tend to become inoperative.
An individual may be liable to pay a penalty charge if the PAN Card and Aadhar card are not linked. Such a penalty is charged by the Income Tax Department of India.
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!
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