Linking Aadhaar To PAN Card
The deadline for Linking Aadhaar to PAN Card is coming near. But as per the government, some people do not have to worry about it. Some people are exempted from the same under the provisions of sub-section (3) of section 139AA of the Income Tax (I-T) Act. So the PAN Card of one’s exempted under this provision will not become inoperative.
PANs are special numbers given to people and businesses for tax-related reasons. However, each and every Indian citizen must have an individual 12-digit Aadhaar number. To facilitate financial transactions, the income tax (I-T) department has made connecting PAN and Aadhaar cards essential.
Following people are exempted from Linking Aadhaar To PAN Card
- Residents of the states of Assam, Jammu and Kashmir, and Meghalaya;
- Non-residents as per the I-T Act, 1961
- Persons aged 80 and above at any time during the previous year
- People who are not citizens of India
The point to be noted is that, if any person in the above-mentioned category wishes to link the two identity cards, they can do so without paying any fee. Kindly note that exemptions are always subject to modifications which can later be changed again.
Also Read: Link Your Aadhaar And PAN By 31st March Or Face The Following Consequences
Circular from IT Department
According to a circular from the IT department, all PAN holders must connect their PAN and Aadhaar by June 30, 2023, with the exception of those who are exempt. The IT department had set a deadline for linking PAN and Aadhaar of 31 March 2022 but later extended it to 30 June 2022. However, there was a Rs. 500 fee for those who linked their PAN-Aadhaar between July 1, 2022, and June 30, 2022.
The deadline to link PAN and Aadhaar was subsequently extended by the IT department to June 30, 2023. PAN holders who link PAN-Aadhaar between July 1, 2022, and June 30, 2023, are subject to a $1,000 fine. If PAN card holders do not link their PAN to their Aadhaar card, their PAN card would be become useless as of July 1st, 2023. To control and prevent tax evasion, the IT department has made it mandatory to link PAN and Aadhaar.
