Pan Card Holders Account Ban: The month of May has started. From LPG to the price of milk and many rules of the government department, everything has changed. For some, the Government of India has fixed the last date of this month.
One of the same is the linking of Aadhaar card with PAN card. In fact, information has been given by the Central Board of Direct Taxes (CBDT) that if the PAN holders do not follow the instructions given by the government till June 30, then their business and tax related facilities will stop working. Simply put, their account will be banned.
Explain that out of total 61 crore Permanent Account Number (PAN), about 51 crore have been linked to Unique Identification Number Aadhaar so far. There are 10 crore people whose PAN-Aadhaar has not yet been linked. Now the government has rung the alarm bell for these people and has also fixed the last date for linking.
People who do not do this till June 30, will not be able to get benefits in business and tax related activities. Central Board of Direct Taxes (CBDT) Chairperson Nitin Gupta said that several crore PANs are yet to be linked with Aadhaar, but this work is expected to be completed by the June 30 deadline.
The government has made it mandatory to link PAN with Aadhaar. For this, setting a deadline of 30 June 2023, it has been said that individual PANs not linked to Aadhaar will be declared inactive after this date. Along with this, the government has said that a fee of Rs 1,000 will have to be paid for linking PAN with Aadhaar between June 30 from the present time.
Linking PAN with Aadhaar is not necessary for four categories.
According to the new instructions, some consumers have been exempted from linking PAN Aadhaar. In such a situation, it is important for you to know whether you also come under this exemption or not. List of exempted PAN users-
- Residents of the states of Assam, Jammu & Kashmir and Meghalaya.
- Non-Resident Indians (NRIs) as per Income Tax Act 1961.
- Any person who was of the age of 80 years or more at any time during the previous year.
- Persons who are not citizens of India.
Those who fall in any of the above categories are not required to link their PAN with their Aadhaar till the deadline.
