The Value of Linking Pan With Aadhar

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The Value of Linking Pan With Aadhar
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If you want to submit your income tax returns on
your own or with the help of a reputed chartered
accounting company such as CA Chandan Agarwal
Co. this year, you first need to link your Aadhaar
with your PAN. Aadhaar number
The deadline for linking to your PAN card has
your been
extended to June 30, 2023. For further
information, today we will discuss the negative
aspects of failing to link Aadhaar to PAN, as
well as the perks when you do it.
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Consequences Of Failing To Link Your PAN With
Aadhar
If a person fails to link his or her PAN to
Aadhaar within the deadline, his or her PAN
would become inactive. As a result, a taxpayer
who does not have a valid PAN card cannot submit
or claim an ITR. Pending returns will not be
processed, and refunds will not be granted for
inoperative PAN cards. TCS/TDS will be charged at
a higher rate. TCS/TDS credit will not appear on
Form 26AS, and TCS/TDS certifications will not
be accessible. In the case of a nil TDS,
taxpayers will be unable to file 15G/15H
declarations. If a person fails to link Aadhaar
to PAN by the deadline, he or she may be charged
up to Rs. 1,000 while trying to link PAN with
Aadhaar. Non-filing of income tax returns could
result in a penalty of Rs. 10,000.
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Benefits Of Linking PAN With Aadhaar

• When PAN and Aadhaar link together, fraud is
  reduced since one person cannot have multiple
  PAN cards.
• Once PAN and Aadhaar become linked, the Income
  Tax Department would be able to detect any type
  of illegal tax avoidance.
• The PAN-Aadhar link would be tremendously
  beneficial to tax filing since it would
  eliminate the need for more complex processes
  like sending receipts to the IT department or
  electronically signing. The link will expedite
  the filing of returns as Aadhaar has everyone's
  data, including biometric verification.

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Conclusion
Based on the information stated above, it is
suggested to complete the linking process before
the deadline to reap the benefits while avoiding
any difficulties. If you are unable to link an
Aadhaar with a PAN, you could ask for assistance
from a reputable chartered accounting company
such as CA Chandan Agarwal Co. further.
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Thank You
CA Chandan Agarwal Co. https//www.facebook.com/
ChandanAgarwalCharteredAccountantKolkata/
9830150844 40/2 Rupchand Mukherjee Lane Kolkata -
700 025. Kolkata, West Bengal ,