Have you linked your Aadhaar number with PAN card?
Do you pay taxes? If yes, it is crucial to understand the effects of not linking your Aadhaar number to your PAN card because the Central Board of Direct Taxes has set up repercussions for PAN being inactive in accordance with the recently substituted guideline. Read on…. 1. As per the notification substituting rule 114AAA of the Income-tax Rules, 1962 (the Rules) vide notification no. 15 of 2023 dated March 28, 2023, it is very clear that a person who has neglected to disclose their Aadhaar number may suffer the following repercussions as a result of their PAN being inoperative: A refund of any amount of tax or part thereof, due under the provisions of the Act shall not be made; Interest shall not be payable on such refund for the period, beginning with the date specified under sub-rule (4) of rule 114AAA and ending with the date on which it becomes operative; Where tax deductions are applicable, such tax shall be deducted at a higher rate, in accordance with Section 206AA’s pro...