Link you Aadhaar to you PAN as soon as possible
The Public of India will have to suffer consequences if they do not link their Aadhaar Card to their Permanent Account Number (PAN). March 31, 2023 is the deadline set by the government. People have to link the two ids before that.
This has been implemented so that the taxpaying public has a unique identification number linked to their PAN. This is a step taken so that tax evasion can be controlled.
Failing to link the same can put people into trouble. People might have to face consequences under the IT Act. As per the circular issued by the Central Board of Direct Taxes (CBDT)
Face the following consequences if Aadhaar and PAN are not linked:
If you don’t link your Aadhaar and PAN before the deadline, it will expire, according to the Income Tax Department. As stated in a CBDT circular, “Rule 114AAA of the Income-tax Rules provides that if PAN of a person has become inoperative, he will not be able to furnish, intimate or quote his PAN and shall be liable to all the consequences under the Act for such failure.”
In addition to this, if you link your PAN and Aadhaar now, then also you will have to pay a fine of rupees 1,000. This is because, the actual last date for linking the two was June 30, 2022.
Also Read: Limited Time Deal! UIDAI Makes Aadhaar Updation FREE
Your ITR would be REJECTED
If the PAN and Aadhaar numbers are not connected, submitting an income tax return (ITR) could also be difficult. It’s possible that the Income Tax Department will reject your ITR.
The I-T Department can also make it impossible for you to submit your ITR, which might make it more difficult for you to get a tax refund.
People may also face difficulties while trying to access certain government services. For example- getting subsidies, applying for passports, or opening a bank account.
It could be challenging for you to obtain a new PAN card without linking the two documents if your old one is stolen or damaged. Notably, the government has also mandated that the Aadhar card number be provided when requesting a new PAN card.
