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The Value of Linking Pan With Aadhar

If you want to submit your income tax returns on your own or with the help of a reputed chartered accounting company such as CA Chandan Agarwal & Co. this year, you first need to link your Aadhaar with your PAN. The deadline for linking your Aadhaar number to your PAN card has been extended to June 30, 2023.<br>

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The Value of Linking Pan With Aadhar

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  1. The Value of Linking Pan With Aadhar

  2. If you want to submit your income tax returns on your own or with the help of a reputed chartered accounting company such as CA Chandan Agarwal & Co. this year, you first need to link your Aadhaar with your PAN. The deadline for linking your Aadhaar number to your PAN card has been extended to June 30, 2023. For further information, today we will discuss the negative aspects of failing to link Aadhaar to PAN, as well as the perks when you do it.

  3. Consequences Of Failing To Link Your PAN With Aadhar If a person fails to link his or her PAN to Aadhaar within the deadline, his or her PAN would become inactive. As a result, a taxpayer who does not have a valid PAN card cannot submit or claim an ITR. Pending returns will not be processed, and refunds will not be granted for inoperative PAN cards. TCS/TDS will be charged at a higher rate. TCS/TDS credit will not appear on Form 26AS, and TCS/TDS certifications will not be accessible. In the case of a nil TDS, taxpayers will be unable to file 15G/15H declarations. If a person fails to link Aadhaar to PAN by the deadline, he or she may be charged up to Rs. 1,000 while trying to link PAN with Aadhaar. Non-filing of income tax returns could result in a penalty of Rs. 10,000.

  4. /04 Benefits Of Linking PAN With Aadhaar When PAN and Aadhaar link together, fraud is reduced since one person cannot have multiple PAN cards. Once PAN and Aadhaar become linked, the Income Tax Department would be able to detect any type of illegal tax avoidance. The PAN-Aadhar link would be tremendously beneficial to tax filing since it would eliminate the need for more complex processes like sending receipts to the IT department or electronically signing. The link will expedite the filing of returns as Aadhaar has everyone's data, including biometric verification.

  5. Conclusion Based on the information stated above, it is suggested to complete the linking process before the deadline to reap the benefits while avoiding any difficulties. If you are unable to link an Aadhaar with a PAN, you could ask for assistance from a reputable chartered accounting company such as CA Chandan Agarwal & Co. further.

  6. Thank You CA Chandan Agarwal & Co. https://www.facebook.com/ChandanAgarwalCharteredAccountantKolkata/ 9830150844 40/2 Rupchand Mukherjee Lane Kolkata - 700 025. Kolkata, West Bengal ,

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