You all must be knowing that the government of India has made it mandatory to link your PAN Card with your Aadhar Card. The news was on the air for quite a long time and the government was regularly releasing notifications to the citizens for this. Earlier this service was available for free.
Now the CBDT (Central Board of Direct Taxes) has released a final warning for people to comply with this requirement within 31st March 2023 with a fee of Rs. 1000. According to the reports the Capital Markets Regulator Security and Exchange Board of India (SEBI) has also directed the investors to link their PAN cards with their Aadhar cards by the mentioned date in order to continue doing transactions in the securities market.
As per the CBDT circular if any taxpayer fails to do so their PAN will become inoperative from 1st April 2023 and the IT department can also reject their ITR. You can also have problems accessing some government services links applying for a passport, opening a bank account, inability to file Income Tax returns, and other financial transactions.
How to link your PAN Card with your Aadhar Card
To link your PAN with Aadhar go to the Income Tax e-filing portal. Then go to the ‘Quick Links’ section and tap on the ‘Link Aadhar’ option. In the opened section enter your PAN number and Aadhar number and tap on validate. If your PAN and Aadhar are already linked a message will pop up on your screen that says, ‘PAN is already linked with the Aadhar or with some other Aadhar’.
If It is not linked, you have to pay a challan on the NSDL portal. After the payment is confirmed by electronic filing your PAN and Aadhar number will be confirmed and then you will receive a notification declaring ‘your payment details are verified’. Then you have to enter the required details and hit the ‘Link Aadhar’ option.
You will receive a 6-digit OTP on your registered mobile number. Finally, enter this OTP and submit your request to link your PAN Card with your Aadhar Card. As per recent reports, the government has extended the deadline for linking PAN cards to Aadhar cards to 30th June 2023. The Government of India has taken this measure to stop duplication of the PAN database which is important for IT return.
Although PAN and Aadhar link is mandatory for all taxpayers anyone of or above 80 years of age, a non-resident as per the IT Act, and a person who is not a citizen of India are exempted from this rule.