Saloni | Nov 13, 2024 |
Link Your PAN Card with Your Aadhar Card Before December 31st else, it will be Deactivated
PAN Card Linking Deadline: Individuals who have their PAN card are advised to link it with their Aadhar Cards before December 31, 2024 otherwise it will be deactivated. Numerous reports regarding this information have been circulated on various social media platforms. As per the reports, if PAN cards are not linked with the Aadhar cards before the mentioned date, then the Government will deactivate them.
According to tax experts, this is false information that is trending these days a lot. The Vice President of Research and Advisory at Taxmann.com, CA Naveen Wadhwa has stated, “The last date to link PAN with Aadhaar expired on March 31, 2022, as per the March 2022 CBDT circular. If the PAN is not linked with Aadhaar by March 31, 2022, then from April 1, 2022, the PAN is already inoperative. However, the consequences of not linking PAN with Aadhaar came into effect from July 1, 2023, as specified in order F. no. 370142/14/2022-TPL, dated 01-04-2023, along with Rule 114AAA. Hence, if your PAN is not linked with Aadhaar on July 1, 2023, then your PAN is inoperative. However, taxpayers with an inoperative PAN can still link it to Aadhaar by paying a penalty.”
By seeing all the aspects, Abhishek Soni, CEO of Tax2Win.in, that is an ITR filing website, said, “The CBDT circular in March 2023 has clarified that if the PAN is not linked with Aadhaar by June 30, 2023, then from July 1, 2023, the PAN will become inoperative. However, the current income tax laws allow an individual to make the PAN operative again by paying a penalty under Section 234H of Rs. 1000.”
How to link a PAN Card with an Aadhaar Card?
People who have not linked their PAN cards with their Aadhar Cards their PAN card will soon be deactivated and they will then not be able to use them at the places where it is used. For example: PAN cards are needed at the time of opening a bank account, and PAN cards are needed while doing investments in fixed deposits, mutual funds or other such activities. Other than these all PAN Card is needed at many places.
To link a PAN Card with an Aadhar card, a person will first need to pay Rs. 1000 as a penalty under Section 234H of the Income Tax Act, 1961.
Below are the detailed steps mentioned on how to link a PAN Card with an Aadhar Card:
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