As the mandate to link PAN Card with Aadhaar Card looms, it’s crucial to understand exemptions from this requirement. While the linkage is deemed essential for various financial and taxation purposes, certain demographics are spared from this obligation.
Who’s Exempt from Pan-Aadhaar Linking?
Individuals aged 80 and above are exempted from linking their PAN card with Aadhaar. Additionally, according to the Income Tax Act, non-residents and individuals without Indian citizenship are also excluded from this requirement.
Consequences of Non-Linkage:
Failure to link PAN with Aadhaar can result in severe repercussions. Untethered PAN cards face deactivation, rendering them unusable for documentation and financial transactions. Furthermore, non-linkage impedes filing Income Tax Returns (ITR) and halts banking transactions, while also obstructing access to various government schemes.
Rectifying Non-Linkage:
To reactivate a deactivated PAN card, individuals must promptly visit the Income Tax Department website and complete the Pan-Aadhaar linking process, albeit subject to a late fee of Rs 1,000.
