PAN Aadhaar Link: Despite the necessity of PAN-Aadhaar linking, there are some people in the country who are exempted from this necessity. Let us know who do not need to link Aadhaar-PAN.
PAN Aadhaar Link: Only a few hours are left to link PAN card with Aadhaar card. By June 30, 2023, every PAN cardholder in the country has to link his Permanent Account Number with Aadhaar. Otherwise, such PAN cards will become inactive from July 1, 2023. The Income Tax Department has warned taxpayers to link their PAN with Aadhaar very carefully.
Mandatory to link PAN with Aadhaar
According to section 139AA of the Income Tax Act, every person in the country who was allotted a Permanent Account Number ie PAN on July 1, 2017 and who is also eligible to get an Aadhaar number, is required to link Aadhaar card with PAN card. Will give information about Aadhaar number. In other words, such persons will have to mandatorily link their Aadhaar and PAN with late fee payment by 30.06.2023.
But some people have got exemption
Despite the imperative of PAN-Aadhaar linking, there are some people in the country who are exempted from this imperative.
Aadhaar-PAN linking is not required for those who:
live in Assam, Jammu and Kashmir and Meghalaya;
is a non-resident as per the Income Tax Act, 1961;
has been of the age of eighty years or more at any time during the previous year; Or
are not citizens of India.
What will happen if Aadhaar is not linked?
According to the Income Tax Act, 1961, those PAN cardholders who do not come under the exemption category, if they do not link their PAN with Aadhaar by June 30, 2023, their PAN card will become inactive from April 1, 2023.
(i) He will not be able to file ITR using his inactive PAN.
(ii) Pending returns cannot be processed.
(iii) Refunds which are also pending will not be issued on this PAN. Pending processing cannot be completed once the PAN becomes inactive.
(iv) If PAN has become inactive then tax will also be deducted at higher rate.
