Do you have a PAN card? However, immediately link with Aadhaar card. Otherwise, your PAN card is invalid. All PAN cards not connected with Aadhaar number are not valid after August 31st. 10 digit (alphanumeric) PAN cards issued by the Income Tax Department must be linked with the Aadhaar number. In the past, cardholders have been alerted several times to connect to Pan-Aadhaar.
The due date for cardholders' lending has also been extended. 31 August 2019, is set as the deadline. About 20 crore PAN cards are declared invalid if not linked to Aadhaar.
Important note. Once the tax department cancels the PAN card .. it is useless to reuse. An official of the Central Board of Direct Taxes (CBDT) said that about 20 crore Indian PAN card holders cannot afford an Aadhaar card. Almost everyone in the country has Aadhaar cards. There are 43 crore PAN card holders in India and 120 crore Aadhaar card holders.
You need a credit card... The Department of Revenue believes that the possibility of fraud and fraudulently obtaining loans and credit cards without a PAN card. That is why the Aadhaar and PAN card link is mandatory. The Department of Revenue has taken this decision as some people from Nepal and Bhutan are using their identity proof to get loans and credit cards with ease. Union Finance Minister Nirmala Sitharaman in the recent Union Budget 2019 speech .. PAN card is not required when filing IT returns.
IT returns only with Aadhaar number. That means that Aadhaar is adding extra flexibility to interchange the PAN card. If the Aadhaar is only submitted, the IT department will issue a new PAN card, assuming the taxpayer does not have a PAN card. The two databases are linked together. In the absence of a PAN card at the time of IT returns, Aadhaar card is allowed to complete the process.
Taxpayers who have already issued a PAN card can submit a PAN number when paying tax. If the Aadhaar link is automatically the PAN number is also shared. That is why the IT department .. Aadhaar and PAN connection is said to be a must. Anyone who connects to Aadhaar and PAN card by August 31, their PAN card is not valid from September 1, 2019.