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PAN-Aadhaar Linking Benefits: If you link Aadhaar and PAN before March 31, then you can take advantage of many benefits. On the other hand, if you fail to link PAN with Aadhaar, then your PAN card will be inactive as well as you will be deprived of many benefits.
The government has fixed March 31, 2023 as the last date for linking Aadhaar and PAN card. After this Aadhaar card and PAN card cannot be linked. At present, a charge of Rs 1000 will have to be paid for linking PAN card with Aadhaar card.
Benefits of linking PAN with Aadhaar
There are many benefits when it comes to linking PAN with Aadhaar, as both of them are important for KYC for opening your bank accounts. It is useful for filing income tax return. Let us know what are the benefits available under this.
Would you not know these benefits?
- Aadhaar card is an important document for all transactions. Linking of Aadhaar and PAN gives the Income Tax Department an audit trail of all transactions.
- ITR filing will not be allowed until your Aadhaar-PAN is linked.
- Once linked, ITR filing will become easier as the need for receipt submission or e-signature will be done away with.
- The use of Aadhaar card has reduced the need for other documents to a great extent.
- Aadhaar card also serves the purpose of identity proof and address proof.
- Transactions can be tracked after linking.
- Aadhaar-PAN linking will solve the problem of fraud and curb tax evasion.
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