- Aadhar and Permanent Account Number ( PAN ) became an inevitable part of life of a common man in India. Both have their own purpose to serve. The Aadhar-PAN linking is a hot subject for a time being and the deadline is March 2023.
- The chairman of the Central Board of Direct Taxes ( CBDT ), has stated that as of this point, about 48 crores of the 61 crore PAN issued to individuals have been connected with Aadhaar. The chairman clearly stated that whoever does not link the Aadhaar with PAN shall not get any type of benefits in both business and tax related filings.
- Individual PANs that are not linked to the Aadhaar by the end of this financial year (March 31, 2023) would become defunct. In addition, between now and March 31 one must spend Rs 1,000 to link their PAN and Aadhaar.
Team – Intellex Strategic Consulting Private Limited
www.economiclawpractice.com, www.buysellmergers.com, www.startupstreets.com, www.intellexconsulting.com