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PAN-Aadhaar linking deadline extended by 3 months to March 31, 2020

The deadline to link PAN with Aadhaar has been extended yet again. The Finance Ministry in a notification dated December 30,2019 has said that the deadline to March 31, 2020, 3 months from the earlier deadline of December 31, 2019.

This extension will come as a relief for those individuals who still have not linked their PAN with their Aadhaar due to errors in both the documents.

As per income tax laws, if your PAN is not linked with Aadhaar by the new deadline, then your PAN will become inoperative. Here, it is important to remember that the government is yet to clarify the meaning of 'inoperative' in the laws if PAN is not linked with Aadhaar.

According to chartered accountants and other experts, it is likely that if a person's PAN becomes inoperative it will be treated as if the individual is not holding the PAN and he/she would be unable to conduct financial transactions where the quoting of PAN is mandatory.

Earlier, the laws said that if the PAN is not linked with Aadhaar, then PAN would become 'invalid', as if individual never held the PAN. However, the rule regarding the consequences of not linking PAN with Aadhaar was revised in July 2019 Budget. The revision was done to protect the transactions undertaken prior to linking of the same.

An individual can link their PAN with Aadhaar either by sending an SMS to 567678 or 56161, through the e-filing website, or manually by filling a specified form at a designated PAN service centre. If you are already filing ITR (income tax return), it is likely that your PAN is linked to Aadhaar.

Also Read: How to link your PAN with Aadhaar

Also Read: Here's how to check if PAN is linked to Aadhaar

Remember it is mandatory to link to your PAN with Aadhaar at the time of filing income tax returns (ITR). Also, if you are quoting your Aadhaar number in lieu of PAN, make sure that both are linked. Click hereto know why.

Also Read: 6 instances where you can quote your Aadhaar number instead of PAN
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