The Indian government has made it compulsory to link PAN (Permanent Account Number) with Aadhaar, a unique identification number. While deadlines have been set for this linkage, certain individuals are exempted from this requirement.
Who is exempted from linking PAN with Aadhaar?
Individuals aged 80 years or above are not required to link their PAN with Aadhaar. Additionally, as per the Income Tax Act, non-residents or individuals without Indian citizenship are also exempted from this mandate.
Consequences of not linking PAN with Aadhaar:
Failure to link PAN with Aadhaar can lead to the deactivation of the PAN card, rendering it unusable for documentation and financial transactions. Non-linkage also prevents the filing of Income Tax Returns (ITR) and halts various banking transactions. Moreover, individuals may be unable to avail themselves of government scheme benefits.
To reactivate the PAN card, individuals must visit the Income Tax Department website and complete the PAN-Aadhaar linking process, which may incur a late fee of Rs 1,000.
