The Central Board of Direct Taxes has extended the last date for linking Permanent Account Number (PAN) with Aadhaar till June 30, 2023. The Pension Fund Regulatory and Development Authority has also said that if PAN and Aadhaar are not linked by the deadline, transactions in people’s NPS account will be restricted.
Pensioners Pension Update: There is a big update for pensioners. If you have not linked PAN card with Aadhaar till now, then update it before June, otherwise you will not get pension in July and a fine of Rs 1000 will also be imposed. Not only this, if you miss the deadline, then close the NPS account. will be given. All such persons who have been issued PAN after July 1, 2017 are required to link PAN-Aadhaar.
In fact, the Central Board of Direct Taxes has extended the last date for linking Permanent Account Number (PAN) with Aadhaar till June 30, 2023. The Pension Fund Regulatory and Development Authority has also said that if PAN and Aadhaar are not linked by the deadline, transactions in people’s NPS account will be restricted. Extended 5 times so far.
Complete the work before June 30
PFRDA has told that linking PAN and Aadhaar is a part of KYC process for NPS account, it is very important for all subsidiaries opening NPS accounts to validate KYC for each of their subscriber’s account. If this work is not done by June 30, then the account can also be closed. The new deadline for PAN-Aadhaar linking is June 30. After this, from July 1, a fine of Rs 1000 will be charged for this work.
3 major disadvantages of not linking
- If a user does not link PAN and Aadhaar, then from July 1, 2023, neither any refund will be given against PAN nor any interest will be paid on this refund.
- After the deadline, the PAN of that person will be closed.
- TDS and TCS of the user will also be deducted at a higher rate. Once it is closed, the PAN will be active again only after 30 days after paying a fine of Rs 1000.
How to link pan card with aadhaar card
- Log on to the official website of Income Tax.
- Go to the Quick Link section and click on Link Aadhaar.
- A new window will appear, enter your Aadhaar details, PAN and mobile number.
- Select the option of ‘I validate my Aadhaar details’.
- You will receive an OTP on your registered number. Fill it and click on ‘Validate’.
- After paying the fine, your PAN will be linked to your Aadhaar.