Securities and Exchange Board of India (SEBI) has also asked investors to link their PAN with their Aadhaar by the end of this month to continue doing transactions in the securities market.
Business News: The Central Board of Direct Taxes (CBDT) has directed all taxpayers to link their permanent account number (PAN) with their Aadhaar by March 31, 2023. As per a circular issued by CBDT in March 2022, the Income-tax Act makes it mandatory for every person who has been allotted a PAN as on July 1, 2017, to intimate his/her Aadhaar number so that Aadhaar and PAN can be linked. This is required to be done on or before March 31, 2023, failing which the PAN shall become inoperative.
Securities and Exchange Board of India (SEBI) has also asked investors to link their PAN with their Aadhaar by the end of this month to continue doing transactions in the securities market.
PAN card-Aadhaar linking: Key Details
- Central Board of Direct Taxes (CBDT) has made it mandatory for all taxpayers to link PAN with Aadhaar.
- Last date to link the two identification card is March 31, 2023.
- Post deadline, PAN card will become inoperative restricting all financial transactions.
- Citizens will have to pay Rs 1,000 as fine to link Aadhaar with PAN by March 31, 2023.
- CBDT has made it mandatory to link Aadhaar with PAN, and failure to do so will render PAN inoperative.
Who is not required to link PAN with Aadhaar?
There are a few categories of individuals for whom this linkage is not compulsory.
- Any person of age 80 years and above;
- A non-resident as per the Income-tax Act;
- A person who is not a citizen of India.
Read More: How to check Aadhaar PAN link status by SMS
How to link Aadhaar with PAN
- Go to the Income Tax e-Filing portal- incometaxindiaefiling.gov.in.
- Click on the ‘Link Aadhaar’ option.
- Enter your PAN, Aadhaar number, and name as per Aadhaar in the relevant fields.
- Verify the details and submit.
- Upon successful linking, a confirmation message will be displayed on the screen, and an OTP will be sent to your registered mobile number.
You can also link Aadhaar with PAN by sending an SMS. To do so:
Send UID PAN – SPACE -12 digit Aadhaar- Space- 10 digit PAN to 567678 or 56161.
