Indian citizens are reminded of the approaching deadline to link their Permanent Account Number (PAN) with their 12-digit unique identity number, Aadhaar. The last date for this crucial linkage is June 30, 2023. Failing to link the PAN with Aadhaar by the specified deadline will render the former inoperative.
It is important to note that the current procedure for linking the PAN with Aadhaar involves remitting a penalty of Rs 1,000. However, the consequences of not completing this linkage go beyond the financial penalty.
If the PAN becomes inoperative due to non-linkage with Aadhaar, the Income Tax Department will not allow tax refunds. Moreover, no interest will be provided for the refund amount during the period when the PAN is inactive. Additionally, individuals in this situation will be subjected to higher rates for Tax Deducted at Source (TDS) and Tax Collected at Source (TCS).
However, there is a provision to rectify the inactivation of PAN. Individuals can link their PAN with Aadhaar and reactivate it within 30 days by paying a fine of Rs 1,000.
It is worth mentioning that certain individuals are exempt from the requirement to link PAN with Aadhaar. Non-Indian citizens and individuals over 80 years of age do not need to perform this linkage.
To ascertain whether the linkage has been successfully completed, individuals can visit the official website of the Income Tax Department, www.incometax.gov.in, and navigate to the ‘Link Aadhaar Status’ section. By providing their PAN and Aadhaar card numbers, they can check whether the two documents have been successfully linked. If the linkage is already established, a message confirming the same will be displayed, stating “Your PAN is already linked to Aadhaar.”
For those who still need to link their PAN with Aadhaar, the following steps should be followed:
1. Visit the website www.incometax.gov.in.
2. Click on the link labeled ‘Link Aadhaar.’
3. Provide your PAN and Aadhaar details, along with your name and mobile number.
4. It is crucial to ensure that the details like name, date of birth, and gender provided on both documents match accurately. In case of any discrepancies, it is necessary to rectify them and ensure that both cards contain identical information before proceeding with the linkage process.
By following these steps and completing the PAN-Aadhaar linkage within the specified deadline, Indian citizens can avoid the repercussions of an inactive PAN, such as the denial of tax refunds and higher TDS/TCS rates.
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