What happens if Aadhaar and PAN are not linked by March 31st?
Posted on: 02/Mar/2023 9:39:25 AM
The government of India has mandated the linkage of Permanent Account Number (PAN) and Aadhaar for all taxpayers in the country. The deadline for linking these two identification numbers is March 31, 2023. Failure to link PAN with Aadhaar before the deadline can have several consequences.
Firstly, your PAN will become inactive, which means it cannot be used for any financial transactions. Secondly, you will not be able to file your income tax returns if your PAN is not linked with Aadhaar. This can lead to penalties and legal consequences. Thirdly, you will not be able to receive any income tax refunds if your PAN is not linked with Aadhaar.
Moreover, any pending income tax return will not be processed if PAN is not linked with Aadhaar. Therefore, it is important to link PAN with Aadhaar as soon as possible to avoid any inconvenience.
The government has made it clear that linking PAN with Aadhaar is compulsory, irrespective of whether you have a Demat account or not. The process of linking PAN with Aadhaar is simple and can be done online or offline. Taxpayers can visit the income tax department`s website or visit any PAN service center to complete the linking process.
