Aadhaar and PAN Linking
Currently, there is lot of confusion and misconceptions around linking of Aadhaar card number with Permanent Account Number (PAN).
Basic misconception is that you have only two days left to link your Aadhaar card with PAN. And if you don’t link it, you PAN number will become invalid. I saw this message on more than 5 different Whatsaspp group since yesterday – “If a person does not link PAN and Aadhaar as mandated by section 139AA then the person’s PAN would become invalid” and most of them seems quoting this article in Economic Times – Click here for article
First of all What happens if You Fail to Link?
The first impact is that you will not be able to file your ITR after July 1 2017 if you fail to link your Aadhaar card with PAN Number. Secondly, if you do not link or fail to link your Aadhaar card with your PAN card, then your PAN card might be rendered invalid by December 2017. “MIGHT BE” is key here as there are over 25 crore PAN card holders in the country and till date only 2.07 crore taxpayers have already linked their Aadhaar with PAN. Do you think that remaining 23 crore taxpayers who have not linked their Aadhaar and PAN will not be able to file their Tax Returns? This is simply preposterous.
My Advise – DON’T PANIC, DON’T do anything foolish. Wait for notification and clarification from Finance Ministry on this.
The author is a Chartered Accountant and loves to write about Personal Finance, Wealth Management, Taxation etc.
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