June 30, 2023, is the last day for you to complete a number of tasks, including the mandatory linking of the Permanent Account Number (PAN) with Aadhaar. Failing to ensure your Aadhaar is seeded into your PAN within the stipulated time will lead to consequences.
June 30, 2023, is the last day for you to complete a number of tasks, including the mandatory linking of the Permanent Account Number (PAN) with Aadhaar. Failing to ensure your Aadhaar is seeded into your PAN within the stipulated time will lead to consequences.
What is PAN?
PAN is a 10-character alphanumeric personal identification number issued by the Income Tax Department that enables the authorities to link financial transactions to the individuals responsible.
What is Aadhaar?
Aadhaar is a 12-digit personal identification number issued by the Unique Identification Authority of India (UIDAI), that works with an individual’s fingerprints, face scans, and eye scans. June 30 is the last date to link Aadhaar with PAN. June 30 is the last day to link both personal identification numbers.
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What happens if you miss the PAN-Aadhaar deadline of June 30?
Not seeding your PAN with Aadhaar within the stipulated time will render the PAN inoperative.
You are also required to complete a few other tasks before the deadline of June 30.
Here’s a checklist for you:
June 30 is the last date for furnishing several financial statements:
It is the last date to:
- Furnish a challan-cum-statement in respect of tax deducted under Sections 194-IA, 194-IB, 194M, and 194-S of the Income Tax Act in May 2023
- File a quarterly return of non-deduction of tax at source by a bank against interest on a fixed deposit for the January-March period
- File a return in respect of securities transaction tax (STT) for the financial year 2022-23
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June 30 is the last date to sign the bank locker agreement:
The RBI has directed commercial banks to get at least 50 per cent of their customers to sign locker agreements by June 30. The lenders have appealed to their customers to renew their bank locker agreements before the deadline.
June 30 is the last date to invest in a special fixed deposit (FD) scheme:
June 30 is the last date to invest in Indian Bank’s ‘Ind Super 400 Days’ special term deposit scheme. SBI, the country’s largest lender by assets, recently extended the last date of investment in its ‘Amrit Kalash’ scheme from June 30 to August 15.
(With inputs from agencies)
