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Time Extension For Pan Aadhaar Link In Collin
Category:
State:
Multi-State
County:
Collin
Control #:
US-0018LTR
Format:
Word;
Rich Text
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Description
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FAQ
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.
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 penalty for not linking PAN with Aadhaar? The penalty for non-linking PAN with Aadhaar card is Rs.1,000.
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.
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.
“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.
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 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.
PAN will become inoperative from 1st July 2023 if it is not linked with Aadhaar. However, you can still link your PAN with Aadhaar by paying a penalty of Rs.1,000. The Income Tax Department has issued a reminder to taxpayers to link their PAN with Aadhaar by 31st May 2024 if they have not yet linked them.
Subsequently, the IT department extended the last date to link PAN-Aadhaar to 30th June 2023.
More info
The last date of linking PAN with Aadhaar has been extended to June 30, 2023, the Central Board of Direct Taxes (CBDT) said in a notification on March 28, 2023. Central Board of Direct Taxes (CBDT) has extended the last date for PANAadhaar Linking from September 30, 2021, to March 31, 2022.Subsequently, the IT department extended the last date to link PANAadhaar to 30th June 2023. Initially set for March 31, 2022, the deadline was extended to March 31, 2023. It has now been revised to June 30, 2023. PAN Aadhaar linking last date has been extended to June 30, 2023, to provide some more time to taxpayers. The earlier deadline was March 31, 2023. PAN holders who link their PAN to their Aadhaar between 1 July 2022 and 30 June 2023 must pay a penalty of ₹1,000. Background checks are generally only performed in the US once a job seeker has received and accepted a formal offer of employment. The earlier deadline was 31 March 2022.
