PAN card

If you are a PAN card holder, then this article is very important for you to read. PAN is an identification number assigned to all taxpayers across the country. PAN requires two types of documents. They are POA and POI. Now it is said that if you do not take a new action on your PAN card, it might get cancelled. What is the “new” action? Let’s see.

All the PAN card holders have to link their PAN cards to their Aadhar cards. If you do not linked Permanent Account Number (PAN) to your Aadhar card, it will become inoperative after March 2023.

How to save PAN card from getting cancelled?

The income tax department had mentioned that if any PAN holder would fail to link their cards to Aadhar card; they will be slapped with a penalty of up to a thousand bucks.

Central Board of Direct Taxes said that individuals who have been “allotted a PAN Card as of 1st July 2017, and is eligible to obtain Aadhaar Number, is required to intimate his Aadhaar to the prescribed authority on or before 31st March 2022.”

Central Board of Direct Taxes quoted, “However, till 31st March 2023 the PAN of the asesses who have not intimated their Aadhaar will continue to be functional for the procedures under the Act, like furnishing of return of income, processing of refunds etc.”

Last dateMarch, 2023

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Written and edited by Rajeshwari.

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