PAN Card – An Important Document:
PAN card introduced by the Government of India is an important document without which it becomes difficult to carry out many financial transactions.
Mandatory to link PAN with Aadhaar:
An important news for PAN card holders is that now they will have to link their PAN card with Aadhaar card by 31 May 2024.
Disadvantages of not adding:
Reduction in TDS: If you do not link PAN with Aadhaar by May 31, the TDS (tax deducted at source) rate on your income from salary, interest, rent, etc. may double.
PAN Inactive: If your PAN is not linked to Aadhaar, it can be considered inactive, as a result of which you will not be able to conduct many financial transactions, such as opening a bank account, taking a loan, or filing tax returns.
Other penalties: In future, more penalties may be imposed for not linking PAN with Aadhaar.
Make sure to get this work done by 31st May:
To ensure that you do not face any loss, it is important that you link your PAN card with Aadhaar by May 31, 2024.
How to link PAN to Aadhaar:
You can link your PAN card with Aadhaar in the following ways:
1. Online:
Visit the e-filing portal of the Income Tax Department (https://www.incometax.gov.in/iec/foportal/).
Click on “Link Aadhaar” option.
Enter your PAN number and Aadhaar number.
Enter the OTP received on the mobile number linked to Aadhaar.
Click on “Link Aadhaar” button.
2. SMS:
Send SMS to 567678 from the mobile number linked to your Aadhaar.
Type “PAN <PAN number> Aadhaar <Aadhaar number>” in SMS.
3. CSC:
You can also link your PAN card with Aadhaar by visiting any Common Service Center (CSC).
This process is simple and easy.
for more information:
You can visit the Income Tax Department website (https://www.incometax.gov.in/iec/foportal/).
You can also call the Income Tax Department helpline 1860-250-0025.
This article provides you information about the process to link PAN card with Aadhaar and the deadline of May 31, 2024.
