Deadline to link PAN with Aadhaar extended to December 31
What's the story
The deadline to link Permanent Account Number (PAN) with Aadhaar has been extended by three months to December 31, 2019 according to an official notification released by the Ministry of Finance today. Earlier, this deadline was September 30. If a taxpayer still fails to meet the new deadline, their PAN would be rendered "inoperative". Here's how you can link your PAN with Aadhaar.
Details
Here's what an 'inoperative' PAN means
If your PAN isn't linked with Aadhaar by the updated deadline, then it shall be deemed inoperative. However, the implications concerning an inoperative PAN have not yet been clarified by the government. In all likelihood, once a person's PAN becomes inoperative, it will be treated as if the individual doesn't hold a PAN, barring them from conducting financial transactions that require quoting of PAN.
Procedure
Here's how you can link PAN with Aadhaar online
To link PAN with Aadhaar online, log on to the Income Tax e-portal. Next, under the 'Quick Links' section, click on 'Link Aadhaar.' Enter details such as Aadhaar number, PAN, name, and Captcha code. Submit the details, click on 'Link Aadhaar', and you're done. After successful verification from UIDAI, the linkage will be confirmed. You can also link your PAN with Aadhaar via SMS.
Information
Procedure to link your PAN with Aadhaar via SMS
Apart from the online method, users can also link their PAN with Aadhaar using SMS service. To do so, type a text message in this format: UIDPAN (space) 12-digit Aadhaar number (space) 10-digit PAN, and send to 567678 or 56161 from your Aadhaar-registered mobile number.
Provision
Separately, PAN and Aadhaar can now be used interchangeably
Union Finance Minister Nirmala Sitharaman, in her budget speech, announced that PAN and Aadhaar can now be used interchangeably. This implies that taxpayers are free to quote their Aadhaar number (instead of PAN), in order to file their I-T returns. Further, Aadhaar can also be used for other services where quoting of PAN is necessary, such as buying/selling financial instruments like MF, gold, etc.