Aadhaar-PAN linking deadline extended till 30 September
New Delhi, June 26: The Central government has extended the last date for linking of Aadhaar number with PAN from 30 June, 2021 to 30 September 2021, in view of the difficulties arising out of the COVID-19 pandemic. If you fail to link PAN and Aadhaar your PAN becomes inoperative.
The deadline for linking PAN and Aadhaar was originally set for March 31, 2021, the end of the current financial year. However, later it was extended for a month. If PAN card and AADHAAR card are not linked by the deadline, the PAN will be invalid.
Aadhaar is a verifiable 12-digit identification number issued by UIDAI to the resident of India for free of cost and PAN is a 10-digit alphanumeric number assigned by the IT Department to a person, firm, or entity.
According to the amendments to the Finance Bill, a taxpayers will be required to link their PAN cards with Aadhaar numbers. if failed, they may be liable to pay a late fee of up to Rs 1,000 if their PAN is not connected to Aadhaar.
Further, as per rules, any person who quotes a cancelled or inoperative PAN is liable to pay a fine of up to Rs 10,000 under section 272B of the Income Tax Act. Why you should link PAN and Aadhaar? If your PAN card is declared, you will not be able to file income tax returns, perform financial transactions that include a PAN, or receive government benefits such as pensions, scholarships, and LPG subsidy if this occurs.
In recent days, the Centre has made Aadhaar mandatory to a growing list of subsidies and schemes.