Showing posts with label link pan card. Show all posts
Showing posts with label link pan card. Show all posts

Friday, May 28, 2021

PAN AADHAR LINK - Easy ways to link Aadhar with PAN - PAN and Aadhar

As per section 139AA of the Income Tax Act 1961, it is mandatory for all Permanent Account Number (PAN) cardholders to link their Aadhaar with PAN.




If your Aadhaar is not linked then your PAN will be considered inoperative and thus will have an impact on TDS rate at the time of receiving any policy payouts.

If your Aadhaar and PAN are not linked TDS rate on your taxable payout* will be 20% as per Section 206AA of Income Tax Act, 1961 (Effective from July 1, 2021)

 

*Applicable on payouts made to Resident Indian policyholders

 

                    3 easy ways to link your Aadhaar with PAN

                                     Tax Website

                     Visit www.incometaxindiaefiling.gov.in 



and click on Link Aadhaar

SMS

Send UID PAN SPACE 12 digit AadhaarSpace 10 digit PAN to 567678 or 56161

For example: UIDPAN 123456789123 AAAPA1234P

PAN Service Centre

Visit designated service center of PAN service providers like NSDL/ UTIITSL.

 

Kindly ensure that you link your Aadhaar & PAN to avoid higher TDS on future policy payouts.

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