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The Income Tax Department has issued a crucial reminder for all taxpayers: link your Permanent Account Number (PAN) with your Aadhaar Card before Friday, May 31. Failure to comply will result in higher tax deductions at source (TDS). This announcement was made via the social media platform X, emphasising the importance of this linkage to avoid financial penalties.
Aadhaar Card Update: You can update Demographic details as well as Biometrics on Aadhaar.
Even though your PAN is inoperative, you can still carry out certain financial transactions. However, these transactions are subject to higher tax deductions.
ITR Filing: The IT department said that an inoperative PAN is not an inactive PAN.
PAN-Aadhaar Link: It has been made mandatory to link PAN with Aadhaar in India. There are many benefits of linking PAN with Aadhaar, but now there are | BLiTZ