Permanent Account Number (PAN) card and aadhaar card are the most essential documents for all types of financial transactions. No financial transaction can go through without the use of PAN card and aadhaar card.
Both the cards are linked with bank accounts, vehicles and insurance policies etc. Aadhaar card contains the details of the person’s name, date of birth, gender, address and photograph.
UIDAI (Unique Identification Authority of India) now allows Indians to obtain their Aadhaar card through the official website even if they do not have a registered mobile number. The step had provided much-needed relief.
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Whereas, PAN Card helps the Income-tax Authority in keeping a track of all financial transactions that may be essential in assessing an individual or companies tax liability, it helps in reducing the chances of tax evasion.
Income Tax Department has made it mandatory to link PAN card with Aadhaar. Else cardholders will face trouble in many tasks like investment, deducting more TDS on PF etc.
Under the provisions of the Income Tax Act, 1961, it is mandatory to link PAN and Aadhaar on or before March 31, 2022.
According to the CBDT circular dated March 30, 2022, “Further, rule 114AAA of the Income-tax Rules provides that if PAN of a person has become inoperative, he will not be able to furnish, intimate or quote his PAN and shall be liable to all the consequences under the Act for such failure.”
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To check if you have already linked your PAN with your Aadhaar card then you can follow the below-mentioned steps to know the status.
– Visit incometaxindiaefiling.gov.in/aadhaarstatus
– Enter PAN and Aadhaar Number
– Click on ‘View Link Aadhaar Status’
– The status of the linking will be displayed in the next screen
