Every taxpayer who has a PAN card must link it with the Aadhaar Card, according to the Government guidelines. The last date to link the two documents was June 30th, 2023. In case, you miss the deadline, you can still link the PAN with Aadhaar but have to pay the amount. To check the status of your linked PAN with Aadhaar, you can use multiple options such as SMS, income tax website, or UIDAI website.
After checking the status, if you find that your Aadhaar is not linked with the PAN card, you need to link it before 30 June 2023 to avoid paying a penalty of Rs.1,000. The government has made it mandatory for taxpayers to link their Aadhaar with their PAN cards. In the article, we share the process of linking your PAN with Aadhaar.
In India, an Aadhaar is a Unique Identification Number that is issued by UIDAI to the residents of India. It is used as a document of identification for address and identity. In multiple government and non-government schemes, open a bank account, file taxes, obtain SIM cards, and receive government subsidies.
Recently, EPFO removed, the Aadhaar card from the documents list of Date of Birth. Now, you have to use different documents for identification of your birth. Check the required documents needed for EPFO.
An Aadhaar Card consists of different information such as fingerprints, iris scans, and demographic details such as name, date of birth, gender and residential address. So, having an Aadhaar card helps prove your identity and location, making life simpler in many ways.
The PAN stands for Permanent Account Number, it is a 10-character identifier, having both letters and numbers known as PAN. The card is generally provided in the format of a sturdy, laminated plastic card. The individuals must possess a PAN if specific criteria are met - primarily centred around earning levels and certain types of financial activities.
For instance, if your annual revenue surpasses a particular threshold or engage in designated monetary dealings requiring PAN usage fall into this category. Charities, companies, and professionals also require a PAN depending on individual circumstances. However, the PAN system streamlines taxation processes while promoting transparency in financial matters.
Here are several benefits to linking your Aadhaar with your PAN. These key reasons are as follows:
To link your PAN card with your Aadhaar card follow this process:
To link your Aadhaar with PAN offers multiple advantages. And, it's a quick and straight process to benefit you in government and non-government schemes. So, attach your PAN with your Aadhaar, in case you miss the date, you can still link your PAN with Aadhaar but have to pay the late fees of Rs. one thousand. Also, you can face difficulty in receiving certain government benefits and subsidies or can have high TDS deduction rates for various transactions.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.