Who is not required to link Aadhaar with PAN; What is the due date; Check Details Here:

Who is not required to link Aadhaar with PAN; What is the due date; Check Details Here In India, Aadhar and Permanent Account Number (PAN) have become crucial components of everyday life for the common man, each serving a particular role. The mandatory linkage of Aadhaar with PAN is now being debated, with a March 2023 deadline. As the deadline for linking Permanent Account Numbers (PAN) to Aadhaar approaches, there has been some demand to extend the deadline once more. The Central Board of Direct Taxes (CBDT) has previously extended the PAN-Aadhaar linking deadline multiple times. Users who have yet to link both numbers can do so before March 31, after which their PAN will become inactive on April 1, 2023. Because the PAN is such a crucial document for tax and other banking-related chores, all users must finish the connection process before the deadline to avoid any problems in the future. The linkage of PAN and Aadhaar is also part of the Know Your Customer (KYC) regulations for several financial services and investments. The PAN-Aadhaar connecting activity is intended to halt PAN de-duplication. It will also aid in the detection of fraudulent PANs, as several PANs have been allotted to single individuals in the past. Individuals will be unable to file Income Tax Returns if their PAN becomes invalid. In addition, any outstanding ITRs and Income Tax Refunds will not be processed. Furthermore, persons filing ITRs without a PAN are forced to pay greater taxes.

Who are not required to Link PAN with Aadhaar?

Mandatory linking of Aadhaar with PAN does not apply to 4 categories: 1. Residents of Assam & Meghalaya and J&K 2. Non-Resident Indians (NRIs) as per the Income Tax Act 1961 3. Person of the age >= 80 years at any time during the FY 4. Individuals who are not citizens of India