Thursday, November 21, 2024

Government’s ultimatum! Finish this work related to PAN Card in 10 days

There are numerous governmental tasks that must be completed on schedule. If these tasks are not completed on time, many challenges could have to be overcome. Among these activities is linking a PAN Card and an Aadhaar card. Every Indian citizen receives a PAN Card. Additionally, it is crucial to link this to their Aadhaar card at the same time. The government has also requested numerous times that the Aadhaar card be linked.

PAN Card

PAN Card

It is required that individuals use the Indian Income Tax Department to link their PAN card and Aadhaar card. If a person has not yet linked it to their Aadhaar card, they still have until June 30, 2023. That person will also need to pay a fee of Rs 1000 for this.

PAN Card

Aadhaar card link

On the other hand, a person’s PAN card would expire if he or she cannot link it to an Aadhaar card by June 30, 2023. People may encounter numerous issues after it expires. PAN CardRegarding the lack of a PAN-Aadhaar link

  • Such taxpayers will no longer be able to use their PAN cards.
  • In both instances of Tax Deducted at Source (TDS) and Tax Collected at Source (TCS), tax will be withheld at the higher rate.
  • No interest or delayed refund will be given.
  • The process of filing an income tax return will be difficult.
  • Issues with financial transactions may need to be resolved.

Read More: Apply these 5 tips to reduce your electric bills during the summer

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