PERSONAL FINANCE
The government has asked all taxpayers to comply with this requirement before March 31, 2023 with a penalty of Rs 1,000.
Investors and taxpayers must make sure they have linked their PAN card with their Aadhaar card before March 31 as the fiscal year 2022–23 comes to an end. PAN cards that are not linked to Aadhaar by March 31, 2023, according to the Central Board of Direct Taxes (CBDT), will become inactive.
“It is mandatory. Don’t delay, link it today! As per the I-T Act, it is mandatory for all PAN-holders who do not fall under the exempt category, to link their permanent account numbers (PAN) with Aadhaar before March 31, 2023. From April 1, 2023, the unlinked PAN shall become inoperative,” the I-T Department in the public advisory said.
According to a notification issued by Finance Ministry in 2017, there are four categories that are exempted from PAN-Aadhaar linking mandate.
1. Residents of the north-eastern states of Assam, Meghalaya and Union Territory of Jammu and Kashmir
2. A non-resident as per the Income-tax Act of 1961
3. Of the age of 80 years or more at any time during the previous year;
4. Not a citizen of India.
NOTE: Those who fall under one of the aforementioned categories and willingly want to link their Aadhaar with their PAN must pay the requisite price. The e-Pay Tax feature on the e-filing Portal must be used to pay the charge for PAN-Aadhaar Linkage.
How to Check the Status of Aadhaar-PAN Linking
To link your PAN with your Aadhaar, you can follow the steps given below:
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