From April 1, PAN won’t function if not linked to Aadhaar.
The Aadhaar card is a unique identification number issued by the Indian government to all citizens of India. It is the world’s largest biometric ID system and requires each individual to provide their biometric information, such as fingerprints and iris scans, to receive their card.
The government uses the Aadhaar card to track and store personal data, such as date of birth, gender, name, address, and phone number. The Aadhaar card is used for a variety of purposes, such as verifying identities for banking, getting benefits from welfare programs, enrolling in school, and getting a passport. It is also used to ensure the accuracy and privacy of individuals’ data.
The Permanent Account Number (PAN) card is a 10-digit alphanumeric code issued by the Indian government to all citizens of India. It is used for various financial transactions, such as filing income tax returns and other financial transactions. The PAN card also serves as a valid form of identification. It is required for opening a bank account, making cash transactions, investing in mutual funds, and other financial activities.
The PAN card number is unique to each individual and is linked to the individual’s income tax records. The PAN card is an important document for the Indian government to identify and track individuals for taxation purposes. The PAN card is also used by the Indian government to combat money laundering and tax evasion. The PAN card is also used by employers to verify the income and identity of employees. The PAN card is an essential document for all citizens of India and is necessary for conducting financial transactions
By March 31, all Permanent Account Number (PAN) holders who do not belong to the “exempt category” must link their PAN card to their Aadhaar; otherwise, it will “expire” from April 1. “Don’t delay, do it today!” “, advises the Central Commission for Direct Taxes (CBDT).
“As per Income-tax Act, 1961, it is mandatory for all PAN holders, who do not fall under the exempt category, to link their PAN with their Aadhaar before 31.3.2023. From 1.04.2023, the unlinked PAN shall become inoperative,” an advisory by the Income Tax Department read.
Persons residing in the states of Assam, Jammu, Kashmir, and Meghalaya are included in the “exempt category” as stated in the Union Treasury Circular issued in May 2017; as defined in the Income Tax Act, 1961 non-resident; have been at least 80 years of age at any time during the previous year and do not have Indian citizenship.
