Deadline Nears: Link Your PAN with Aadhaar Now

Avoid penalties and financial issues complete your PAN-Aadhaar linking before the deadline ends

The deadline for linking PAN (Permanent Account Number) with Aadhaar is fast approaching, and taxpayers are urged to complete this process to avoid penalties The Income Tax Department has set a final date December 31, 2024. for linking PAN with Aadhaar, emphasizing that failing to do so can lead to deactivation of the PAN card and other repercussions.

Importance of Linking PAN with Aadhaar

Linking your PAN with Aadhaar is a mandatory requirement under the Income Tax Act. This step helps curb tax evasion and streamlines tax filing procedures. If PAN and Aadhaar are not linked before the stipulated date, the PAN will become inoperative. This could lead to difficulties in conducting financial transactions where PAN is required, such as opening bank accounts, investing in mutual funds, or filing income tax returns.

Key Deadline and Consequences of Missing It

The current deadline to link PAN with Aadhaar is [mention the exact date if known], and missing it will result in a penalty of up to INR 1,000 as per Section 234H of the Income Tax Act. Additionally, an inoperative PAN may lead to a higher TDS (Tax Deducted at Source) rate, complicating financial operations for individuals.

How to Link PAN with Aadhaar Online

To make the process easy, the Income Tax Department provides a seamless online facility. Here’s a step-by-step guide:

1. Visit the Official Income Tax e-Filing Portal: Go to www.incometax.gov.in.
2. Log In or Register: Use your User ID (PAN), password, and captcha to log in. If you’re not registered, create an account by following the instructions.
3. Navigate to the ‘Link Aadhaar’ Option: After logging in, locate the ‘Link Aadhaar’ section under the ‘Quick Links’ or ‘Profile Settings.’
4. Enter Details: Input your PAN, Aadhaar number, and name as it appears on the Aadhaar card. Ensure there are no discrepancies in the data.
5. Submit and Verify: After submitting, an OTP will be sent to your registered mobile number for verification. Enter the OTP to complete the process.

Alternatively, taxpayers can link their PAN with Aadhaar by sending an SMS to 567678 or 56161 in the format: UIDPAN<space><12-digit Aadhaar><space><10-digit PAN>.

Common Issues and Solutions

• Name Mismatch: If the name on the PAN and Aadhaar does not match, users should update their information through the PAN or Aadhaar correction facilities before linking.
• Mobile Number Not Registered: Ensure that your Aadhaar is linked with your active mobile number to receive the OTP.

Benefits of Linking PAN with Aadhaar

• Simplifies Tax Filings: Facilitates e-verification of income tax returns and reduces the need for physical documentation.
• Avoids Penalties: Prevents deactivation of the PAN, ensuring smooth financial operations and tax compliance.

Act promptly to ensure your PAN and Aadhaar are linked to avoid penalties and maintain seamless access to financial services.