What will happen if PAN is not linked with Aadhaar?
In case a person fails to link his or her PAN with their Aadhaar card, the PAN will become inoperative. In such a case, the person will not be able to furnish, intimate or quote his PAN and shall be liable to all the consequences under the Income-tax Act for such failure.
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I couldn't link Aadhaar and PAN by June 30. Has my PAN become inoperative? What services will I not be able to avail?
The last date to link PAN with Aadhaar expired on June 30, 2023. Any individual who has not linked the both by this date, will have their PAN becoming inoperative. If the PAN becomes inoperative, then it will be assumed that such an individual does ...
Can we activate new account without Pan and Aadhaar linking?
We have made changes in all on-boarding journeys for individuals and Pan which are not linked with Aadhaar will not be able to open new accounts.
Why should you link PAN with Aadhaar?
By linking your PAN with Aadhaar, you are protecting yourself with fraudsters getting multiple cards by misusing your name. The I-T department can detect any form of tax evasion after a taxpayer's PAN is linked with Aadhaar.
Who needs to link PAN with Aadhaar?
As per a circular issued by the Central Board of Direct Taxes (CBDT) in March 2022, the Income-tax Act makes it mandatory for every person who has been allotted a PAN as on July 1, 2017, to intimate his Aadhaar Number so that the Aadhaar and PAN can ...
Can I still link Aadhaar and PAN and make my PAN operative again?
With an inoperative PAN, the individual cannot file the tax return and cannot receive a tax refund. Nevertheless, an Aadhaar can still be linked with a PAN upon payment of a penalty of Rs 1,000.