Introduction:
Aadhaar and PAN are two of the most crucial identity
documents in India. Aadhaar is a 12-digit unique identification number issued
by the Unique Identification Authority of India (UIDAI), while PAN (Permanent
Account Number) is a ten-digit alphanumeric number issued by the Income Tax Department
of India. Both documents serve as a means of identification and authentication
for a wide range of purposes. In this blog, we will discuss the process of
linking Aadhaar with PAN in India, its benefits, and why it is mandatory.
Mandatory Linking of Aadhaar and PAN:
The Government of India has made it mandatory to link
Aadhaar with PAN to curb tax evasion, black money, and other financial
irregularities. The Supreme Court of India has also upheld the mandatory
linking of Aadhaar with PAN. The deadline for linking Aadhaar with PAN has been
extended several times, and currently, the last date to link Aadhaar with PAN
is 30th June 2023.
Process of Linking Aadhaar and PAN:
The process of linking Aadhaar with PAN is simple and can be
done online or offline. The following are the steps to link Aadhaar with PAN
online:
·
Visit the e-filing website of the Income Tax
Department of India at https://www.incometax.gov.in/
·
Click on the 'Link Aadhaar' option under the
'Quick Links' section on the left side of the home page.
·
Enter your PAN, Aadhaar number, and name as
mentioned on the Aadhaar card.
·
Pay 1,000/- non-refundable fee though e-pay Tax
service to proceed with submission of Aadhar PAN linking request.
·
Kindly ensure that the fee payment is made
through a single challan under Minor Head 500 - Other Receipts (500) and Major
Head 0021 [Income Tax (Other than Companies)].
·
If payment has already been made on the Protean
(NSDL) portal, we recommend trying to link the documents after a period of 2-4
working days from the payment date. And enter your PAN, Aadhaar number, and
name as mentioned on the Aadhaar card.
·
Tick the box that says 'I have only year of
birth in Aadhaar card,' if applicable.
·
Enter the captcha code and click on the 'Link
Aadhaar' button.
·
A message will be displayed on the screen
confirming the successful linking of Aadhaar with PAN.
Offline Process:
If you prefer the offline mode, you can link your Aadhaar
with PAN by visiting a designated PAN service center or by sending a letter to
the Income Tax Department of India. The letter should include your PAN, Aadhaar
number, and a request for linking both.
Benefits of Linking Aadhaar and PAN:
Linking Aadhaar with PAN offers several benefits. Some of
the major benefits are as follows:
1.
Simplified Tax Filing: Linking Aadhaar
with PAN simplifies the tax filing process as it eliminates the need to submit
a physical copy of the income tax return (ITR) acknowledgment to the Income Tax
Department of India.
2.
Easy Verification: Linking Aadhaar with PAN
enables easy verification of the taxpayer's identity, thereby reducing the
chances of tax evasion.
3.
Faster Processing of ITR: Linking Aadhaar
with PAN helps in faster processing of the ITR as it eliminates the need for
manual verification of the taxpayer's identity.
4.
Multiple Accounts: Linking Aadhaar with
PAN ensures that all your bank accounts, investments, and other financial
instruments are linked to a single identity, which reduces the chances of fraud
and irregularities.
5.
Multiple PANs can be detected: Linking
Aadhaar with PAN helps in detecting multiple PANs registered under the same
name, which is often used to evade taxes.
Conclusion:
Linking Aadhaar with PAN is a simple process that offers
several benefits to taxpayers. The government of India has made it mandatory to
link Aadhaar with PAN to ensure transparency and reduce financial
irregularities. It is important to link Aadhaar with PAN before the deadline to
avoid penalties and ensure compliance with the law.
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