In its latest notification, the Income Tax Department has extended the last date to link Personal Account Number (PAN) cards and Aadhaar card by March 31, 2020. As per the I-T department, around 17.58 crore PAN are yet to be linked with each other.
The last date to complete this formality earlier was December 31, 2019 however; it has been now extended to March 31 this year. Once the deadline to link the PAN card and Aadhaar is over all the non-linked PAN cards will be inoperative.
Those who fail to link their PAN cards with Aadhaar with the deadline, would not be able to doat least 18 financial transactions. These transactions are namely sale or purchase of a vehicle (except motorbike), apply for credit/debit cards and opening a Demat account, among others as per Rule 114B.
Morever, a person with inoperative PAN will be liable for all consequences under the I-T Act for not furnishing, quoting or intimating the permanent account number, the IT Department said.
As per section 139 AA (2) of the Income Tax Act, every person having PAN as on July 1, 2017, and eligible to obtain Aadhaar, must intimate his Aadhaar number to the tax authorities.
In 2018, the Supreme Court announced Aadhaar as constitutionally valid and held that the biometric ID would be mandatory for filing income tax returns and allotment of PAN cards.
Here’s how to link Aadhaar number with PAN online:
Step 1: Visit e-filing portal incometaxindiaefiling.gov.in using username or password
Step 2: Click on Aadhaar ID link option under Profile settings.
Aadhaar number will be linked with PAN if your DOB and Name are found identical.
You can also link Aadhaar via SMS– UIDPAN <space> <12-digit-Aadhaar no.> <space> <Alphanumeric 10-digit PAN number> and then sent this to 56161 or 57878.
As per the I-T department, more than 30.75 crore Permanent Account Number (PAN) had been linked to Aadhaar till January 27, 2020.