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The income tax department has already extended the last date for linking of PAN card with Aadhaar card for 10 times

09-Jun-2020

NEW DELHI : Keeping in mind the situation arising out of the spread of coronavirus and the resultant lockdown, the finance ministry had extended the deadline to link PAN card with Aadhaar card for the tenth time. The last date to link PAN with Aadhaar is now June 30. Having an Aadhaar card is not only mandatory to get a new PAN card but also a compulsory requirement for filing of income tax returns (ITR).

5 things to know about PAN card, Aadhaar card linking:

1) It is easy to link the alphanumeric Permanent Account Number issued by the income tax department with the 12-digit Aadhaar online through the e-filing portal. One can also send SMS to 567678 or 56161 in the format: UIDPAN12digit Aadhaar>10digitPAN> to link the two identity documents.

3) If it is linked to Aadhaar within the deadline, it is likely that your PAN will be declared as "inoperative" by the income tax department which means that you will no longer be able to use it to file ITR or open bank accounts, make payments, etc.

4) Using an "inoperative" PAN can result to a fine of 10,000 as it will tantamount to non-furnishing of PAN which is mandatory as per section 139A of the Act. Section 272B(1).

5) The requirement of linking PAN with Aadhaar does not apply to NRIs. "However, an NRI may require an Aadhaar to carry out certain financial transactions and they are eligible to apply for it. If you have an Aadhaar, you may link it with your PAN," Archit Gupta, founder and chief executive officer, ClearTax, said.

Source : Live Mint

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