Why PAN-Aadhaar linking crucial before March 31? Know the consequences

Not linking your PAN and Aadhaar will snowball into lot more financial issues with your Permanent Account Number becoming invalid.

By : ABP Live | Updated at : 28 Mar 2019 02:07 PM (IST)

Why PAN-Aadhaar linking crucial before March 31? Know the consequences Why PAN-Aadhaar linking crucial before March 31? Know the consequences

It is mandatory to link your PAN with your Aadhaar. (Image: PTI)

Here are 3 consequences you can face if you fail to link PAN with Aadhaar

It’s easy to link your PAN with Aadhaar

New Delhi: PAN-Aadhaar linking must be done on or before Sunday, 31st March 2019, as per the Income Tax Department of India. Not linking your PAN and Aadhaar will snowball into lot more financial issues with your Permanent Account Number becoming invalid. Here are 3 consequences you can face if you fail to link your Permanent Account Number (PAN) with your Aadhaar UID in the next 3 days: 1. Unable to file IT Return Section 139AA of the Income Tax Act mandates a taxpayer to link his/her PAN with Aadhaar in order to file Income Tax Returns. Thereby, you may not be able to file your ITRs if your PAN is not linked with your Aadhaar UID. And not filing your ITR will have its own set of setbacks from the Income Tax Department including a penalty of Rs.10,000 for late filing of ITRs later. 2. Unable to get IT Refund The Central Bureau of Direct Taxes (CBDT) has clearly notified on its official website that to process any e-Refund it is mandatory to link your PAN with your Aadhaar. So all your tax planning, claiming tax exemptions to get a hefty Income Tax Refund against Tax Deducted at Source (TDS) can come to a halt if your IT refund is not processed in the first place. 3. Unable to Deduct Tax If your PAN is deemed invalid, you may not be able to deduct taxes under Section 194-IA and 194-IB against tenancy, lease or sublease, which can further attract the ire of income tax authorities. It’s easy to link your PAN with Aadhaar. Let’s follow the steps below and do it now: How to link your PAN with Aadhaar? Step 1 – Visit the Income Tax Department’s e-filing portal - https://www.incometaxindiaefiling.gov.in/home Step 2 – Click on ‘Link Aadhaar’ tab from the left sidebar Step 3 – Enter your Permanent Account Number (PAN), Aadhaar Number, Name as per Aadhaar, captcha code and click on Link Aadhaar You’ve successfully linked your PAN-Aadhaar! Direct link for PAN-Aadhaar Linking before 31 st March 2019 How to check if your PAN is linked with Aadhaar in One Minute?