PAN-Aadhaar linking deadline extended! Your PAN may become inoperative if not linked by this date


There has been an extension of 3 months granted for PAN-Aadhaar linking.

Last Date to Link PAN to Aadhaar Card: The last date for linking Aadhaar with PAN has been extended by the government. In a tweet, Anurag Thakur, Union Minister of State for Finance & Corporate Affairs, has made certain important announcements and also informed about the last date extension of Aadhaar-PAN. The last date for linking Aadhaar with PAN now stands as September 30, 2021.

There has been an extension of 3 months granted for PAN-Aadhaar linking. From 30th June, the last date has been extended till 30th September for linking PAN with Aadhaar.

Keeping in view the difficulties faced by taxpayers, the Central Government had earlier issued a notification regarding extending the last date for the intimation of Aadhaar number and linking thereof with PAN to 30th June, 2021.

In addition, there have been certain other announcements for the benefit of taxpayers. “The extension of various due dates, be it for PAN-AADHAAR linking, for payment of tax/ penalty under Vivaad se Vishwas scheme, completion of assessment proceedings, completion of penalty proceedings, registration of charitable trusts and institutions for income tax exemption, etc. will provide additional time, both to taxpayers as well as tax authorities for meeting the timeline,” says Shailesh Kumar, Partner, Nangia & Co LLP.

If you already have the permanent account number (PAN ) card and are eligible to obtain Aadhaar number or you have already acquired one, then you are required to intimate the Aadhaar number to the Income Tax Department. Your PAN Aadhaar linking needs to be completed, else the PAN will become ‘inoperative’.

Once the PAN becomes inoperative, one will not be able to undergo several transactions where PAN is required to be quoted mandatorily. The Income Tax Department has specified 18 financial transactions where quoting of PAN is mandatory by an individual. In such cases, the transactions could be carried out only when the PAN and Aadhaar are linked, thus making the PAN re-active.

To link Aadhaar with the PAN card, one may go to the e-filing website of the Income Tax Department. One may use log-in credentials or even without logging, the linking of Aadhaar and PAN can be done. The Income Tax Department has made it clear that for filing of ITR, Aadhaar and PAN linkage is mandatory unless specifically exempted.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.





Source link

Latest

Celltrion expects Covid variants to fuel global treatments growth

South Korean biopharmaceuticals group Celltrion is betting that new variants of Covid-19 will fuel growth in the US and Europe for treatments of...

How Online Casinos Are Using VR to Improve the Gaming Experience

The "Metaverse," as coined by Facebook CEO Mark Zuckerberg, has reignited interest in virtual reality (VR), which has been on the radar for some...

Noonies Interview: Luke Calton On Product Management and Writing

Luke Calton is a Product Manager at a start-up in London called . He is excited about Everything from space manufacturing, building...

5 Essential Tips When Renting a Roll Off Dumpster

Renting a dumpster is one thing, but asking for a roll-off cart in rent that can lift the dumpster makes things more effective so...

DA Hike Latest News: What is Variable Dearness Allowance VDA, Who will benefit? Explained

Representative imageDearness Allowance Hike Latest News: The Central Government has revised the rate of Variable Dearness Allowance (VDA) with effect from April 1,...