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PAN and Aadhaar card link last date: The Income Tax Department has fixed the last date to link the two cards as March 31, 2023, but the users will have to pay a penalty of Rs 1,000.
Why has the Centre made PAN-Aadhaar linking necessary?
The main reason behind making the linking of PAN cards and Aadhaar cards mandatory was to reduce the duplication of PAN cards. Multiple PAN cards issued to the same person lead to inaccuracy in calculating and collecting tax. It also makes it difficult for authorities to track tax evasion.
The mandatory linking of the two cards is expected to improve compliance and reduce tax evasion in India.
Who is exempted from PAN-Aadhaar linking?
Indian citizens with the age of above 80 are not required to link the two cards. Also, non-residents and non-citizens are not required to link PAN and Aadhaar cards.
Click to Link your Aadhar to PAN before it gets inoperative: https://sites.google.com/view/finntax/services/pan-aadhaar-link?authuser=0
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