Pan Card Update: There is good news for PAN card holders if you have not yet linked your PAN card with an Aadhar card, then you can link it till 31st May 2024. According to the Income Tax Department, if you do not link your PAN with Aadhaar before this deadline, then your PAN card can also be deactivated.
After which you will face problems with many things including bank transactions. Apart from this, you will also have to pay Rs 1,000 to link PAN with Aadhaar. Without PAN, you will not be able to withdraw more than Rs 5000 from the bank at a time.
If you want to get a new debit or credit card, it will not be possible. Apart from this, there will also be difficulties in opening a bank account. Also, in case of no PAN, DDS, or TCS deduction, you will have to pay more tax.
It is important to link your Aadhar card and PAN card because your PAN has become inactive. He will become active again. If PAN becomes active, then income tax returns can still be filed for the last three years by paying an extra fee i.e. PAN penalty.
Because if you have to take a bank loan or get a visa to go abroad, income tax returns are also asked for. So returns for the last three years can be filed even today.
Time has been given till May 31, 2024, to file income tax returns. If you have not filed the return, then know that to file the income tax return, it is necessary to have a link to your Aadhaar card, or PAN card.
Also, bank statements, basic documents, and certificate of deduction claim, if there is life insurance, then its certificate is required. Apart from this, you can file an income tax return along with other basic documents.
Note: TimesBull does not officially verify this news, please verify the news yourself and believe it.
