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PAN AADHAR LINK : This is what will happen if you miss the March 31 deadline for linking your PAN and Aadhaar

By[email protected]

Mar 28, 2023 #PAN AADHAR LINK

PAN AADHAR LINK

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PAN AADHAR LINK

PAN AADHAR LINK : The Indian government has mandated the linking of Permanent Account Numbers (PANs) and Aadhaars by March 31. You will lose the ability to use your PAN card if you do not comply with the order by Saturday, April 1. The requirement is mandatory. Don’t wait, link it today! By March 31, 2023, it will be mandatory for all PAN-holders who do not fall under the exempt category to link their permanent account numbers (PAN) with Aadhaar. A public advisory released by the Income Tax Department states that unlinked PANs will become inoperative on April 1, 2023. Individuals will have to pay Rs 1000 as a late fee to link their PAN with their Aadhaar ( PAN AADHAR LINK )

As per section 139AA of the Income Tax Act, everyone who is eligible for an Aadhaar card must mention their Aadhaar number when applying for a PAN or filing a return of income beginning July 1, 2017.

PAN cards of taxpayers who do not link their Aadhaar as required will no longer be valid after March 31.

You could face several consequences if you do not link your PAN and Aadhaar by the deadline (PAN AADHAR LINK ). The following are some possible consequences: -Invalidation of PAN: If you do not link your PAN and Aadhaar, your PAN could become invalid. As a result, you won’t be able to use it for financial transactions or official business (PAN AADHAR LINK).

-Increased Tax Liability: Not linking your PAN and Aadhaar could also result in increased tax liability, as the Income Tax Department may not recognize any transactions that you make without a valid PAN. -Penalty: The Income Tax Department may also impose a penalty on you for not linking your PAN and Aadhaar. -Consequences: Not linking your PAN and Aadhaar can have serious consequences, including the imposition of fines and penalties. In addition, it could also lead to increased scrutiny from the tax authorities. As a result, you may be required to pay additional taxes or face prosecution under the Income Tax Act.

Moreover, your PAN may be declared invalid, meaning you will not be able to use it for financial transactions. It is therefore important to ensure that your PAN and Aadhaar are linked in order to avoid these consequences. If you have not yet linked them, take action immediately to do so. Furthermore, it is important to ensure that all documents related to your PAN and Aadhaar are up to date, accurate, and valid. It is also advisable to keep copies of all documents related to your PAN and Aadhaar for future reference. It is also recommended to regularly check your PAN and Aadhaar linking status to ensure that it is linked and up to date.

Additionally, you should be aware of any changes or updates to the PAN and Aadhaar linking process and make sure to follow the latest guidelines.

In addition, you should also ensure that your PAN and Aadhaar information is secure and not shared with anyone without your consent. You should also be aware of any scams or fraudulent activities related to your PAN and Aadhaar and take the necessary steps to protect your information. Ensure that you are the only person who has access to your PAN and Aadhaar information.

Monitor your accounts regularly for any suspicious activity. Report any unusual activity to the relevant authorities. Make sure to use strong passwords and two-factor authentication when possible to protect your PAN and Aadhaar information. Do not share your login credentials with anyone. Be vigilant and do not open any suspicious emails or links related to your PAN and Aadhaar.

Change your passwords periodically. Always keep a backup of your important documents. Shred any physical documents that contain confidential information.

By [email protected]

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