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The central government had made it mandatory for all taxpayers to link their Permanent Account Number (PAN) with their Aadhaar card by June 30

PAN card not linked with Aadhaar? You'll have to pay a penalty of ₹6000 to file your income tax returns

The central government had made it mandatory for all taxpayers to link their Permanent Account Number (PAN) with their Aadhaar card by June 30

The last date to link your PAN with your Aadhaar card was 30th June. If you've missed the date, then your PAN card has likely become inoperative and you will face issues in filing your income tax returns. In which case, you will have to shell out ₹6000 to file your ITR.&nbsp; According to Income tax dept's website, the old PAN card will not be accepted, which means a taxpayer will have to pay 1000 rupees to activate it again but this process will take 1 month.
While the last date for filing tax return is 31 July. If a taxpayer defaults and the total income is more than Rs 5 lakh, then Rs 5000 late fee will have to be paid. In such a case, if you activate PAN and file the return, then you will have to pay ITR late fee of Rs 5000 and Aadhaar-PAN linking Rs 1000.&nbsp; The fine for linking your PAN and Aadhaar can be paid on the National Securities Depository Limited (NSDL) portal by paying the amount.&nbsp;

Budget 2023 could give a further boost to 'ease of doing business'. Govt is mulling giving the PAN card legal backing to become the sole business indentification requiremet. 

Budget 2023: PAN card may become the sole business ID 

PAN to be key to single window clearances; Here's what it means for entrepreneurs

Budget 2023 could give a further boost to 'ease of doing business'. Govt is mulling giving the PAN card legal backing to become the sole business indentification requiremet.&nbsp;

Budget 2023: The Permanent Account Number may soon become the only identification requirement for businesses. And this move could be announced in the upcoming budget.&nbsp;
Currently, over a dozen different business IDs like EPFO, ESIC, GSTN, TIN, TAN and PAN are being used for seeking various approvals, depending on the nature of the clearances being sought. A Business Standard article quotes a senior finance ministry official who said that an enabling clause of provision may be introduced in the Finance Act to give legal back for the PAN card to be used as the main business identification.&nbsp;
Earlier, Commerce and industry minister Piyush Goyal said the government was considering the use of the PAN card as a single-point identifier to facilitate expeditious regulatory approvals to new investment proposals under the single window.

This will happen if you fail to link PAN Aadhaar by set deadline
 
 
 

"What is mandatory, is necessary. Don't delay, link it today!" the department said in a public advisory.

The Income Tax department Saturday issued an advisory that those permanent account numbers (PAN) which are not linked with Aadhaar by the end of March next year will be rendered "inoperative".
"What is mandatory, is necessary. Don't delay, link it today!" the department said in a public advisory.
"As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with Aadhaar before 31.3.2023. From 1.04.2023, the unlinked PAN shall become inoperative," it said.
The 'exempt category', according to a notification issued by the Union Finance Ministry in May 2017, are those individuals residing in the states of Assam, Jammu and Kashmir and Meghalaya; a non-resident as per the Income-tax Act, 1961; of the age of 80 years or more at any time during the previous year and a person not a citizen of India.
A circular issued by the Central Board of Direct Taxes (CBDT) on March 30 said once a PAN becomes inoperative, an individual shall be liable to all the consequences under the I-T Act and will have to suffer a number of implications.
Also Watch| <a href="https://www.editorji.com/india-news/linking-aadhaar-and-voter-id-card-voluntary-no-action-will-be-taken-govt-1671188782882">Linking Aadhaar and voter ID card voluntary, no action will be taken: govt</a>
The person shall not be able to file I-T return using the inoperative PAN; pending returns will not be processed; pending refunds cannot be issued to inoperative PANs; pending proceedings as in the case of defective returns cannot be completed once the PAN is inoperative and tax will be required to be deducted at a higher rate.
"In addition to the above, the taxpayer might face difficulty at various other fora like banks and other financial portals as PAN is one of the important KYC (know your customer) criterion for all kinds of financial transaction," the circular said.
The CBDT frames policy for the Income Tax department.
While Aadhaar is issued by the Unique Identification Authority of India to a resident of India, PAN is a 10-digit alphanumeric number allotted by the IT Department to a person, firm or entity.&nbsp;

The actor took to the social media and highlighted the incident.

He tagged the CIBIL authorities urging them to look into the matter

Rajkummar Rao's PAN card 'misused' in order to take loan in his name

The actor took to the social media and highlighted the incident. He tagged the CIBIL authorities urging them to look into the matter.

SUPER: Rajkummar Rao's PAN card 'misused' in order to take loan in his name
With each passing day, there is seemingly a huge rise in online frauds and scams. The &lsquo;Badhaai Do&rsquo; actor Rajkummar Rao found himself in a tight spot when he found that his PAN card was misused to take a loan in his name.
SUPER: Rajkummar Rao posted the case on social media and tagged CIBIL
No sooner did the actor realise that his name had got &lsquo;misused&rsquo; online, he immediately took to the social media and posted his case online stating that a small loan of Rs. 2500 was taken in his name. In his post, he tagged Credit Information Bureau (India) Limited (CIBIL) and told them to look into&nbsp;the matter. The actor also claimed that due to the said fraud, his credit score had got affected.

The actor took to the social media and highlighted the incident. He tagged the CIBIL authorities urging them to look into the matter.

While one sees many of technological advancements with each passing day, at the same time, there is a flip side to the same. There is seemingly a huge rise in online frauds and also scams. The &lsquo;Badhaai Do&rsquo; actor Rajkummar Rao&nbsp;found himself in a tight spot when he found that his PAN card was misused to take a loan in his name.
No sooner did the actor realise that his name had got &lsquo;misused&rsquo; online, he immediately took to the social media and posted his case online stating that a small loan of Rs. 2500 was taken in his name. In his post, he tagged Credit Information Bureau (India) Limited (CIBIL) and told them to look into the matter. The actor also claimed that due to the said fraud, his credit score had got affected.
This year, Rajkummar Rao has an impressive line-up of films. The actor, who was last seen in the hit film &lsquo;Badhaai Do&rsquo; with Bhumi Pednekar, will now be seen in 'Guns and Gulaabs', 'Bheed', 'Hit' and others.
ALSO WATCH |&nbsp;<a href="https://www.editorji.com/entertainment-news/bollywood/bhuvan-bam-apologises-after-ncw-asks-police-to-register-fir-against-him-1648895108352" target="_blank">Bhuvan Bam apologises after NCW asks police to register FIR against him</a>

As the financial year is about to get over on March 31st, EJ lists out several deadlines that one needs to meet when it comes to money.
1. Aadhaar-PAN link: If you haven't yet connected your PAN to your Aadhaar number, you have until March 31, 2022, to do so. If you do not link your PAN to your Aadhaar number by this date, your PAN will become inactive and you will have to pay a fee of Rs 1,000.
If the PAN card is not linked to Aadhaar, an individual will also not be able to invest in mutual funds, stocks or open a bank account among other things as furnishing a PAN card in all those cases is a must.
2. ITR Filing: If you didn't file or missed your ITR for the fiscal year 2020-21 on December 31, 2021, here is your opportunity. You have until March 31, 2022, to file the late return. A delayed ITR is an income tax return filed between January 1, 2022, and March 31, 2022. A late filing fee of Rs 5,000 will be charged if the ITR is not filed on time (Rs 1000 for total income up to Rs 5 lakh).
3. Update KYC in your bank accounts
The Reserve Bank of India (RBI) had extended the deadline for updating Know Your Customer (KYC) in the bank accounts to March 31, 2022, from the previous deadline of December 31, 2021. Customers must update their PAN card, address (such as Aadhaar), passport, and other documents as part of KYC. In addition, recent pictures and other details are required.
 

Aadhar-PAN link to ITR filling: tasks you should complete by March 31

As the financial year is about to get over, EJ lists out several deadlines that one needs to meet when it comes to money matters 

Do this before March 31 else your PAN Card will become inactive

fee of Rs 5,000 will be charged if the ITR is not filed on time

If you do not link your PAN to your Aadhaar number by this date, your PAN will become inactive and you will have to pay a fee of Rs 1,000.&nbsp;

As the financial year is about to get over on March 31st, EJ lists out several deadlines that one needs to meet when it comes to money. Also read/watch |&nbsp;<a title="PVR Inox Merger: Here is what shareholders need to know" href="https://www.editorji.com/business-news/markets/pvr-inox-merger-here-is-what-shareholders-need-to-know-1648455166192" target="_blank">PVR Inox Merger: Here is what shareholders need to know</a> &nbsp;
1.&nbsp;Aadhaar-PAN link: If you haven't yet connected your PAN to your Aadhaar number, you have until March 31, 2022, to do so. If you do not link your PAN to your Aadhaar number by this date, your PAN will become inactive and you will have to pay a fee of Rs 1,000.
If the PAN card is not linked to Aadhaar, an individual will also not be able to invest in mutual funds, stocks or open a bank account among other things as furnishing a PAN card in all those cases is a must.
2. ITR Filing: If you didn't file or missed your ITR for the fiscal year 2020-21 on December 31, 2021, here is your opportunity. You have until March 31, 2022, to file the late return. A delayed ITR is an income tax return filed between January 1, 2022, and March 31, 2022. A late filing fee of Rs 5,000 will be charged if the ITR is not filed on time (Rs 1000 for total income up to Rs 5 lakh).
3. Update KYC in your bank accounts
The Reserve Bank of India (RBI) had extended the deadline for&nbsp;updating Know Your Customer (KYC) in the bank accounts&nbsp;to March 31, 2022, from the previous deadline of December 31, 2021. Customers must update their PAN card, address (such as Aadhaar), passport, and other documents as part of KYC. In addition, recent pictures and other details are required.

The government has extended the last date for linking the Permanent Account Number (PAN) with the Aadhaar card to March 31, 2022.&nbsp;
The Central Board of Direct Taxes (CBDT) announced six months extension for linking the two identification cards to provide relief to taxpayers and address difficulties faced due to the COVID-19 pandemic.
This is the fourth time that the government has extended the last date for linking the PAN and Aadhaar. Initially, the last date was set as March 31, 2021, which was extended to June 30, and then to September 30. Now, the deadline has been extended till the end of current fiscal.
If the PAN card is not linked with the Aadhaar card, it is likely to become inoperative and may attract a late fee of ₹ 1,000. Also, one may not be able to carry financial transactions where its is mandatory to provide PAN card details.
You can follow these simple steps to link your PAN with Aadhaar card online

Log on to the income tax e-filing website - www.incometaxindiaefiling.gov.in
Click on the 'Link Aadhaar' option
Enter the correct Permanent Account Number, Aadhaar Number, and your full name (as given in the Aadhaar card) in the relevant fields.
Enter the details such as date of birth in the designated fields
Enter the correct captcha code in the relevant field
Select the relevant option and click on the 'link Aadhaar' button at the bottom of the page


Deadline to link Aadhaar & PAN card extended. Here's how you can do it online

The government has extended the last date for linking the Permanent Account Number (PAN) with the Aadhaar card to March 31, 2022

FOR VO
The government has extended the last date for linking the Permanent Account Number (PAN) with the Aadhaar card to March 31, 2022.&nbsp;
The Central Board of Direct Taxes (CBDT) announced six months extension for linking the two identification cards to provide relief to taxpayers and address difficulties faced due to the COVID-19 pandemic.
This is the fourth time that the government has extended the last date for linking the PAN and Aadhaar. Initially, the last date was set as March 31, 2021, which was extended to June 30, and then to September 30. Now, the deadline has been extended till the end of current fiscal.
If the PAN card is not linked with the Aadhaar card, it is likely to become inoperative and may attract a late fee of ₹ 1,000. Also, one may not be able to carry financial transactions where its is mandatory to provide PAN card details.

The government has for the fourth time extended the last date for linking the PAN and Aadhaar.&nbsp;Now, the deadline has been extended till the end of current fiscal

The government has extended the last date for linking the Permanent Account Number (PAN) with the Aadhaar card to March 31, 2022.&nbsp;
The Central Board of Direct Taxes (CBDT) announced six months extension for linking the two identification cards to provide relief to taxpayers and address difficulties faced due to the COVID-19 pandemic.
Also Read&nbsp;<a href="https://www.editorji.com/story/deadline-to-file-income-tax-returns-extended-to-december-31-1631201339358" target="_blank">Deadline to file Income Tax returns extended to December 31</a>
This is the fourth time that the government has extended the last date for linking the PAN and Aadhaar. Initially, the last date was set as March 31, 2021, which was extended to June 30, and then to September 30. Now, the deadline has been extended till the end of current fiscal.
If the PAN card is not linked with the Aadhaar card, it is likely to become inoperative and may attract a late fee of ₹ 1,000. Also, one may not be able to carry financial transactions where its is mandatory to provide PAN card details.
You can follow these simple steps to link your PAN with Aadhaar card online
<ul>
<li>Log on to the income tax e-filing website - www.incometaxindiaefiling.gov.in</li>
<li>Click on the 'Link Aadhaar' option</li>
<li>Enter the correct Permanent Account Number, Aadhaar Number, and your full name (as given in the Aadhaar card) in the relevant fields.</li>
<li>Enter the details such as date of birth in the designated fields</li>
<li>Enter the correct captcha code in the relevant field</li>
<li>Select the relevant option and click on the 'link Aadhaar' button at the bottom of the page</li>
</ul>

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