1. Build your Credit Score
2. Reduce your Current Borrowing / EMI Costs
As per the section 139AA of the Income Tax Act, submission of aadhar number is mandatory for PAN card application and filing income tax returns. It came in effect from July 1, 2017.
Steps of Linking Aadhaar with ITR:
31st March 2021 has been set as the deadline for linking PAN and Aadhar, by the Income Tax Department. On failing to link Aadhar and PAN before the last date, the PAN card will turn inoperative from 1 April. If someone tries to use a PAN card that has turned inoperative, they may also be fined ₹10,000. The declaration came from CBDT (Central Board of Direct Taxes) in a notification on February 13, 2020.
PAN is an essential element in many financial transactions, such as property sale, banking transactions, investing in stocks/mutual funds, etc.
Follow these instructions for checking the status of aadhar linking request:
Yes, without PAN and aadhar you won’t be able to file your income tax returns.
No, they are exempted from filing income tax returns.