|
As per Section 139AA of the Income Tax Act 1961, every individual including Non-Resident Indians (holding PAN & Aadhaar number) is required to link their PAN with their Aadhaar by 30th June 2021.
|
|
Here are some useful links for you:
|
|
|
In case your PAN is not linked with Aadhaar
by 30th June’21: |
|
• | Your PAN will become inoperative |
|
|
• | TDS deduction on interest earned at 20% / TCS (wherever applicable) |
|
|
• | You may have difficulties in operating your Bank accounts |
|
|
If you are an Indian Resident and are a Forex Cardholder: |
|
TCS is applicable whenever the aggregate withdrawal of foreign exchange in a financial year exceeds Rs 7 lakhs under LRS. Below are the TCS rates: |
|
Purpose of Remittance | Normal TCS Rate | Higher TCS Rate (applicable in case PAN is not linked to Aadhaar) | Remittance towards pursuing Overseas Education with the source of funds as educational loan from specified Financial Institution | 0.50% | 5% | Other LRS Remittances | 5% | 10% |
|
|
If you are investing in Mutual Funds through HDFC Bank broker code (Offline/Online ISA/InvestTrack/InvestNow): |
|
There will be a deduction of higher tax on your dividends and possible restriction on your future Mutual Funds transactions. |