Aadhaar and PAN not linked? Rule For NRI ? PAN card cannot be used after March 31

Indians Daily 📧: newsindiansdaily@gmail.com March 05, 2023 0

The Aadhaar – PAN card is not linked by March 31, it will face more difficulty in financial transactions and income tax returns. You will not be able to use PAN card from April 1, 2023 if it is not linked with Aadhaar number.

Note:

Following categories are exempted from Aadhaar-PAN linking

(i) NRIs

(ii) Not a citizen of India

(iii) age > 80 years as on date

(iv) state of residence is ASSAM, MEGHALAYA or JAMMU & KASHMIR

Refer Department of Revenue Notification no 37/2017 dated 11th May 2017

Who qualifies as NRI?

Non Resident Indian is a person who is not a resident of India. An individual is deemed to be a resident, if (A) Individual has resided in India in that year for 182 days or more or (B) Having within the 4 years preceding that year been in India for 365 days or more and is in India for 60 days or more in that year.

What is Pan-Aadhaar Link?

PAN-Aadhaar Linking is the process of linking your Permanent Account Number (PAN) with your Aadhaar number. The central government has made it mandatory for individuals to link their PAN with Aadhaar.

“Link Pancard and Aadhaar soon. According to the I-T Act, it is mandatory for all PAN holders who do not belong to exempted category to link their PAN with Aadhaar before March 31, 2023. From April 1, 2023, PAN not linked to Aadhaar will be defunct,” the note issued by the Income Tax department said.

How to link PAN with Aadhaar?

Step 1: Go to incometaxindiaefiling.gov.in.
Step 2: Click on the 'Link Aadhaar' option under the 'Quick Link' section on the webpage.
Step 3: You will be redirected to a new page where you have to enter PAN number, Aadhaar number and other required details like your name

What happens if Aadhaar and PAN are not linked?

PAN will be disabled. This will become a hindrance to financial transactions. Also income tax return will not be filed. Let's see what happens if Aadhaar and PAN are not linked.

You cannot file return with inactive PAN
Pending returns will not be processed
Pending refunds cannot be issued to inactive PAN card holders

As the PAN becomes inactive, you will have to pay tax at a higher rate.

In addition to the above, the taxpayer may face difficulty in banks and other financial portals as PAN is one of the key KYC criteria for all types of financial transactions.