PAN Holders exemption: Good news! These people were exempted from linking PAN Aadhaar, check details
[ad_1]
The Central Board of Direct Taxes (CBDT) has made it mandatory to link PAN with Aadhaar as directed by the Ministry of Finance.
But, 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.
According to CBDT, the last date for linking Aadhaar PAN has been extended to June 30, 2023, which was earlier March 31, 2023. The Central Board of Direct Taxes has definitely given 3 months time to PAN users to link it with Aadhaar, but users should not only wait for the deadline, but should get rid of it by linking PAN Aadhaar now.
PAN will be activated on submission of Aadhaar link fee
The Central Board of Direct Taxes has said that if a user’s PAN becomes inoperative, he will have to pay a penalty of Rs 1,000 for linking it with Aadhaar. The PAN will be reactivated in 30 days on reporting Aadhaar to the prescribed authority after payment of a fee of Rs 1,000.
CBDT has exempted certain persons from linking PAN with Aadhaar. These include residents of the states of Assam, Jammu and Kashmir and Meghalaya as well as other types of members. However, people falling in the exempted category can voluntarily link PAN and Aadhaar.
These people are exempted from Aadhaar-PAN linking
The requirement of linking Aadhaar with PAN does not apply to four categories of users-
1) Residents of the states of Assam, Jammu & Kashmir and Meghalaya.
2) Non-Resident Indian (NRI) as per Income Tax Act 1961.
3) Any person who was of the age of 80 years or more at any time during the previous year.
4) 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.
(pc rights of employees)
[ad_2]
Source link