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Since 2022, the Income Tax Department has been urging people to link their Permanent Account Number (PAN) card with Aadhaar card, and deadline has been extended in the past as well.
Once again the Income Tax Department issued a reminder, urging taxpayers to link their PAN with Aadhaar by May 31, 2024. Those who fail to meet the deadline will face a higher rate of tax deduction at source (TDS), tweeted I-T department.
In a tweet, I-T department wrote,"Kind Attention Taxpayers, Please link your PAN with Aadhaar before May 31st, 2024, if you haven’t already, in order to avoid tax deduction at a higher rate. Please refer to CBDT Circular No.6/2024 dtd 23rd April, 2024."
Kind Attention Taxpayers,
— Income Tax India (@IncomeTaxIndia) May 28, 2024
Please link your PAN with Aadhaar before May 31st, 2024, if you haven’t already, in order to avoid tax deduction at a higher rate.
Please refer to CBDT Circular No.6/2024 dtd 23rd April, 2024. pic.twitter.com/L4UfP436aI
Why is PAN-Aadhaar Linking Important?
The Income Tax Department has made it mandatory for taxpayers to link their PAN with Aadhaar.
Failure to do so by the deadline will result in penalties. Additionally, an unlinked PAN card will become inoperative, causing significant inconvenience.
It may lead to difficulty in filing income tax returns and processing tax refunds, as well as higher TDS deductions on income like salary and interest on investments.
To link your PAN with Aadhaar, visit https://www.incometax.gov.in/ and click on the "Link Aadhar" option in the option box.
Fill out the form provided to complete the linking process.
