Why do PAN - Aadhar Card Linking mandatory this time by 31st March 2023 ?
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As per a circular issued by CBDT in March 2022, the Income-tax Act makes it mandatory for every person who has been allotted a PAN as on July 1, 2017, to intimate his/her Aadhaar number so that Aadhaar and PAN can be linked. This is required to be done on or before March 31, 2023, failing which the PAN shall become inoperative.
CBDT has said that in case a person fails to link his or her PAN with Aadhaar, the PAN will become inoperative. In such a case, the person will not be able to furnish, intimate, or quote his/ her PAN, and shall be liable to all the consequences under the Income-tax Act for such failure. Some of the major implications of non-compliance are:
- The person shall not be able to file the income tax return using the inoperative PAN.
- Pending returns will not be processed.
- Pending refunds cannot be issued to inoperative PANs.
- Pending proceedings as in the case of defective returns cannot be completed once the PAN is inoperative.
- Tax will be required to be deducted at a higher rate if PAN becomes inoperative.
- Besides these consequences, the person may find difficulties in doing other financial transactions such as with banks, as PAN is an important KYC criterion for these transactions.
Since PAN is the key identification number and part of KYC requirements for all transactions in the securities market, all SEBI-registered entities and Market Infrastructure Institutions (MIIs) are required to ensure valid KYC for all participants.
All existing investors are required to ensure the linking of their PAN with their Aadhaar before March 31, 2023, for continual and smooth transactions in the securities market and to avoid consequences of non-compliance with the March 30, 2022, CBDT circular, as such accounts would be considered non-KYC compliant, and there could be restrictions on securities and other transactions until the PAN and Aadhaar are linked.
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Ek dot pe bahut emoji hai.
For all demat users right?
And, how to check this now?
@bikidas2060 @guest_999
@malikcool
My friend's pan not link with aadhar, (maybe he give Election Card as a Id proof)
What if he apply for new pan via aadhar card as a proof ...
He will face problem if he has given that pan card any where in bank Or demat etc in the past.
My dob is mismatch in aadhaar and pan Wil I pay 1k to link it?
At first go to nearest bank/ adhaar correction centre or cafe change your dob in aadhar then link aadhar with pan ( after your payment u will not be able to link aadhar with pan if dob mismatch )
My dad's name in pan and aadhar are different (just by two letters..in pan there's intials, while in aadhar initials are not there)
Due to which I couldn't link them last year..
Now the names are matched in both..
And I'm ready to pay the 1k for linking..
My issue is.. if I pay 1k and proceed with linking both..
What if I face an error again for the name mismatch?
What will be the validity of the 1k receipt that's received after paying 1k?
Pls guide..
TIA
@guest_999
I think they will extend with more fine
Any solution for this error?
Been trying to pay the 1k.. for 3 days now.. every time this error pops up and the payment fails..
Getting this error.
My friend's pan not link with aadhar, (maybe he give Election Card as a Id proof)
What if he apply for new pan via aadhar card as a proof ...
He will face problem if he has given that pan card any where in bank Or demat etc in the past.
https://www.pan.utiitsl.com/panaadhaarlink/form...
Site is down as usual but if you have saved the preview of your ITR(which you should anyway) then check if aadhaar no. is showing there in general details section at the top.
Check here. It is working
https://eportal.incometax.gov.in/iec/foservices...