New Delhi: The PAN of taxpayers who do not provide their Aadhaar as required will not be valid after March 31, 2023, and will be subject to all penalties under the Act for failure to provide, intimate, or quote their PAN. Will be CBDT continued.
When your PAN expires, you will be prohibited from undertaking financial transactions (such as those involving mutual funds), subject to TDS at higher rates, and subject to penalty under section 272B.
Meanwhile, if you think that your PAN may already be linked with your Aadhaar, You can check this direct link To know the status.
If you have not yet linked your Aadhaar card with PAN, you can follow the online process
1. To link PAN and Aadhaar card, tax payers must first register on the Income Tax e-filing portal
2. Login to the e-filing portal of the Income Tax Department by entering login ID, password and date of birth
3. After punching the details you will also have to feed a code
4. On login to the site, a pop up window will appear asking you to link your PAN card with Aadhaar card
5. If not, you can go to profile setting and opt for “Link Aadhaar” button
6. Punch in the details like name, date of birth and gender. This will already be mentioned by you during registration on the e-filing portal
7. Verify the details on the screen with the details mentioned on your Aadhaar card
8. If the details match, enter your Aadhaar card number and click on the “Link Now” button
9. You will get the message that your Aadhaar card has been successfully linked with your PAN card
The Income Tax department had last year said that not linking PAN with Aadhaar by March 31 would attract a penalty of up to Rs 1,000, but such a PAN would work for another year till March 2023 for filing ITRs, claiming refunds and others . IT Processes.