The deadline to link your PAN card with Aadhaar card is approaching very soon. If you are unable to link your PAN card with your Aadhaar Card by 31st March 2021, there are chances that your PAN card may become inactive.
However, Government of India can decide to extend the deadline to link both the cards as it has done before.
It is important to note that linking PAN with Aadhaar is required by law and if your PAN Card becomes Inactive then you would not be able to several kinds of transactions. Further you may experience issues with filling Income tax returns. Hence it is highly recommended that you link your PAN Card with Aadhaar Card if you have not done it already.
Visit the link below to know more about How to Link PAN Card with Aadhaar Card
Why Linking PAN with Aadhaar is Mandated
Government of India has made it mandatory to link PAN with the existing Aadhaar numbers for filing tax returns. PAN is a 10 digit alphanumeric number allotted by the I-T department while, Aadhar is a 12 digit biometric number issued by UIDAI to individuals.
Banking Transactions and PAN Card and Aadhaar Linking
Anything above the transaction threshold of Rs 50,000, be it investments in fixed deposits, mutual funds or any other insurance policies will require the applicants or bank holders to submit their PAN and Aadhaar details. This is also applicable for users who make multiple transactions which add on to or above Rs 50,000.
Aadhaar Card And PAN Details Do Not Match - How To Correct?
The Income Tax department offers online facilities for its users looking to correct their PAN and Aadhaar details without the need to visit any physical center. Now you can use this online service, by simply linking you Aadhaar number with PAN. This can come in rather handy for e-verifications, for your tax returns through OTP verification, which is essentially an onetime password that is sent your registered Aadhaar mobile number.
No comments:
Post a Comment