How can I link my Aadhar with PAN? Is PAN Aadhaar link free? How can I check my PAN link status? How much time takes to link Aadhar with PAN? Aadhar card PAN card link status.
Avoiding Penalties with Aadhar PAN link
Linking your PAN card with your Aadhaar card is mandatory as per the Income Tax Department. If you fail to link your PAN card with your Aadhaar card, you may have to pay a penalty of up to Rs 1,000.
Simplified Tax Filing
Aadhar PAN linking makes the process of tax filing simpler and faster. You can e-verify your tax return using your Aadhaar card, which eliminates the need for sending a physical copy of the ITR-V to the Income Tax Department.
Prevents Tax Evasion with Aadhar PAN link
Aadhar PAN linking can help prevent tax evasion. This is because the government can track all financial transactions that are linked to your PAN card, and this can help them identify any discrepancies in your tax filings.
KYC Compliance with Aadhar PAN link
Aadhar PAN linking is an important aspect of completing your KYC (Know Your Customer) compliance with financial institutions such as banks, mutual funds, and insurance companies. This can help streamline the process of opening new accounts, applying for loans, or availing other financial services.
Government Schemes
Aadhar PAN linking is also necessary for availing of various government schemes and subsidies. For instance, if you want to avail of the Pradhan Mantri Awas Yojana or the National Pension Scheme, you need to link your PAN card with your Aadhaar card.
Final day to link Aadhar PAN
The last date for Aadhar PAN linking is approaching. The last date for linking PAN card with Aadhaar card is June 30, 2023. All unlinked PAN cards will become ineffective from July 1, 2023. The Income Tax Department shared in a tweet, “The last date for linking PAN and Aadhaar is approaching!” As per IT Act, 1961, it is mandatory for all PAN holders who do not fall under the exemption category to link their PAN with their Aadhaar before 30.06.2023. As of 01/ 07/2023, unlinked PAN will become invalid. Please link them today!”
Check your Aadhar PAN link status
Link your Aadhar PAN
Read an interesting story Maafi
2 thoughts on “Aadhar PAN link now. Deadline coming soon”