In a message posted on social media platform X on May 28, 2024, the division said, “Kind attention taxpayers, please link your PAN with Aadhaar before May 31st, 2024.”
PAN Aadhaar Linking: Who ought to do it and the way? Step-by-step information
The division additional defined, “Linking your PAN with your Aadhaar by May 31 ensures you don’t face higher tax deduction/ tax collection under Section 206AA and 206CC of the Income Tax Act, 1961, due to an inoperative PAN for the transactions entered into before March 31, 2024.”
According to Section 139AA of the Income Tax Act, each one who has been assigned a PAN as of July 1, 2017, and is eligible to get hold of an Aadhaar quantity, should present their Aadhaar quantity within the prescribed kind and method.
Failure to link PAN with Aadhaar will consequence within the PAN changing into inoperative. However, people who belong to the exempted class won’t be affected by this provision.
Also Read | Latest Fixed deposit rates of interest in May 24: 7 banks revise FD charges – earn up to 9.1% curiosity; test particulars
To link PAN with Aadhaar on-line by the e-submitting web site, comply with these steps:
1. Go to the Income Tax Site – https://www.incometax.gov.in/iec/foportal.
2. Click on ‘Link Aadhaar’ beneath ‘Quick Links’. Enter the PAN, Aadhaar quantity, and identify as talked about within the Aadhaar card.
3. Provide particulars comparable to PAN Number, Aadhaar quantity, your identify on Aadhaar, and your cellular quantity. If solely the delivery 12 months is talked about within the Aadhaar card, tick the corresponding sq.. Also, tick the field to agree to get your Aadhaar particulars validated. Click on ‘Link Aadhaar’.
4. Enter the Captcha code. An OTP will likely be despatched to the registered cellular quantity. Click the validate button.
It is important to word that linking Aadhaar and PAN requires paying a wonderful of Rs 1,000.
