If you have not linked your Permanent Account Number (PAN) to your Aadhaar cards then do it on priority as if it is not done before December 31, the PAN will likely become invalid afterwards. As stated by some media reports, the government has taken this step in order to maximise the use of 12 digits biometric identification system.
The government has stated that there are many PAN cards existing which are fake. They need to be linked with the Aadhaar cards as it is a unique identity proof allotted to an Indian citizen which cannot be duplicated as it contains biometric credentials. And hence, this process has to be completed by December 31.
Presently, the taxpayers are using the PAN card to file the income tax return and the students who don’t fall in the tax bracket use it as an identity proof. On this move, State Bank of India group’s chief economic adviser Soumya Kanti Ghosh said,”98% of India’s adult population are Aadhaar card holders. The time margin till the year end is more than enough to link the PAN numbers with Aadhaar.”
On this move, State Bank of India group’s chief economic adviser Soumya Kanti Ghosh said,”The time margin till the year end is more than enough to link the PAN numbers with Aadhaar.”
On the other hand, On March 22, Lok Sabha recently passed a bill which made Aadhaar mandatory for filing income tax returns. Union Minister of Finance, Arun Jaitley stated that this process will help the government to dig out the tax evasion. He said,”Why shouldn’t we make use of this technology if it helps us catch tax evaders.”
Currently, there exist 250 million PAN cards which are mandatory for different businesses like cash transactions of hotel or travel bills exceeding Rs 50,000, purchase of jewellery above Rs 2 lakh and while making bigger transactions in banks. and while making large deposits in banks.
How this can be done:
- Login to https://incometaxindiaefiling.gov.in
- Select the option for linking both the unique id numbers
- Enter your Aadhar number
- Cross-check your personal details. They should match with the one you provided
- Data will be confirmed before redirecting to the next step
- Click on ‘Link Now‘ and the process of linking will initiate only when the details will match.