Time Extension For Pan Aadhaar Link In Bexar
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Once the request for linking your Aadhaar with your PAN is submitted, it may take 7 days to 30 days to link your PAN with your Aadhaar and reactivation your PAN card.
What is the PAN Aadhaar linking last date? The Indian government and the Central Board of Direct Taxes (CBDT) have set May 31st, 2024, as the last date to link PAN with Aadhaar.
The deadline to link PAN with Aadhaar was 30th June 2023. However, you can still try and link your PAN with Aadhaar via the Income Tax website and by paying the prescribed penalty of Rs. 1,000.
The Government of India had made it mandatory for all individuals to link PAN card with Aadhaar card before the deadline (i.e. 30th June 2023). In case you have failed to link your PAN and Aadhaar before 1st July 2023, you will be unable to use your PAN card, get pending refunds and interest on such refunds, etc.
If PAN is not linked with Aadhaar by the deadline, the PAN card becomes inoperative. This means that: No refunds will be made against such PANs. TDS (Tax Deduction at Source) and TCS (Tax Collection at Source) will be deducted/collected at a higher rate.
If you haven't linked your PAN with Aadhaar till now, your PAN is now considered inoperative. This means you won't be able to use your inoperative PAN in situations where it's necessary to provide one.
“If PAN and Aadhaar are not linked, incomes received by the taxpayer will suffer higher TDS at 20% instead of 10%,” he said. Failure to link PAN with Aadhaar could have a significant impact on income tax return (ITR) filings, with the deadline for filing ITR set for July 31, 2024.
Once the request for linking your Aadhaar with your PAN is submitted, it may take 7 days to 30 days to link your PAN with your Aadhaar and reactivation your PAN card.
PAN card will become inoperative from 01st July 2023 if PAN holders do not link it with their Aadhaar card. The IT department had further extended the deadline till 31st May 2024, failure to link before this deadline will result in deduction of TDS at higher rates.
If a deductor has deducted TDS at a lower rate due to unawareness of the new PAN-Aadhaar linking rule, it is crucial to rectify the situation. The deductor should immediately comply with the requirement and start deducting TDS at the higher rate of 20% for deductees whose PAN is not linked with Aadhaar.
