Government has implement a compulsory requirement for individuals to connect their Permanent Account Number (PAN) with Aadhaar. If the deadline is not met, individuals may face consequences such as the suspension or deactivation of their National Pension System (NPS) accounts.
To avoid any disruption to their NPS accounts, individuals must prioritise linking their PAN with Aadhaar before the approaching 30th June deadline 2023.
As per circular by Pension Fund Regulatory and Development Authority (PFRDA) :
“In continuation to our earlier advisory dated 23rd March, 2023, on the captioned subject, the date for linking PAN with Aadhaar has been extended till 30th June, 2023 in accordance with CBDT press release dated 28th March, 2023.”
The NPS is a retirement savings scheme introduce by the Indian government, offering a reliable source of income after retirement.
Due to its attractive returns and tax benefits, it has gain significant popularity among individuals.
To continue enjoying the benefits provide by the NPS, it is important to follow government regulations, which includes linking PAN and Aadhaar.
This linkage ensures that you follow the rules set by the government and helps in managing your retirement funds effectively.
It enables you to make the most of the benefits provide by the NPS.
If you fail to link your PAN and Aadhaar before the deadline, it can lead to many limitations on your NPS account.
These limitations may involve restrictions on making additional contributions, limited access to account details, or the suspension of your account altogether.
In order to prevent any inconvenience or potential loss of benefits, it is of utmost importance to take prompt action and ensure the timely linking of your PAN and Aadhaar before 30th June 2023.
PAN and Aadhaar are unique identification numbers issue by different government entities in India.
While PAN is a 10-digit alphanumeric identifier provide by the Income Tax Department, Aadhaar is a twelve-digit unique identification number issue by UIDAI.
Linking these two identification numbers is crucial as it enables the government to enhance the monitoring of financial transactions, detect tax evasion, and prevent the misuse of multiple PAN cards.
How to link PAN and Aadhaar online?
Follow These Steps :
- Go to the official income tax e-filing website or click HERE.
- Find for the “Quick Links” tab and proceed by clicking on the “Link Aadhaar” option or click HERE.
- On the Link Aadhaar page, you will see a form where you need to provide the require details.
- Enter your PAN, Aadhaar number, and your name exactly as it appears on your Aadhaar card.
- Verify the details carefully to ensure accuracy, and if your Aadhaar card only mentions the year of birth and not the complete date of birth, make sure to select the checkbox indicating the same.
- With the details, you will also need to enter the “Captcha Code” provide for verification purposes.
- If you possess only an Aadhaar card and not a PAN card, you can select the option that says “I have only Aadhaar”.
- When you have fill in all the require details, press the “Link Aadhaar” button.
- If the information you provide matches the details in the Aadhaar database, your PAN will be successfully link with Aadhaar.
