Pan Aadhaar Linking: The last date to link Permanent Account Number (PAN) to Aadhaar is approaching soon. As directed by the Central Board of Direct Taxes (CBDT), the apex body of the Income Tax department, it is mandatory to link Aadhaar to Permanent Account Numbers (PAN) by March 31 this year. The PAN will become 'inoperative' on April 1 if someone fails to do so before the stipulated time. 

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The previous deadline for PAN-Aadhaar linking was March 31, 2022, but the government extended it with a penalty of Rs 1000.

There are a host of benefits individuals can avail of once they link their PAN with Aadhaar as these two are important for KYC while opening your bank accounts.  It also helps in making it easier for filing your income tax returns among others. 

The section 139AA of the Income Tax Act provides that every individual who has been allotted a Permanent Account Number (PAN) as of the 1st day of July 2017, and who is eligible to obtain an Aadhaar number, shall intimate Aadhaar number in the prescribed form and manner.

 

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