Time Extension For Pan Aadhaar Link In Broward
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“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.
When the PAN is not linked with the Aadhaar card, the PAN card becomes inoperative from 1st July 2023. The taxpayers cannot file their ITRs, get tax refunds or access financial services, such as opening a bank account, or a Demat account, getting credit/debit cards, etc., when the PAN becomes inoperative.
If your PAN and Aadhaar are not linked, the depository participant will suspend your Demat account. After that, CDSL and stock exchanges will not accept any buy or sell orders when you trade or invest. NSE, MCX, and BSE will also block you from trading, and you can no longer buy or sell the securities.
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.
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 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.
Subsequently, the IT department extended the last date to link PAN-Aadhaar to 30th June 2023.
