LINKING OF PAN AND AADHAR NUMBER
What is PAN?
PAN stands for Permanent Account Number. It is a unique 10-digit alphanumeric identification number issued by the Income Tax Department of India to individuals and entities for the purpose of tracking financial transactions. PAN is mandatory for certain financial transactions, such as opening a bank account, filing income tax returns, and making certain types of financial transactions. It serves as proof of identity for Indian citizens.
What is Aaadhar Number?
Aadhaar is a 12-digit unique identification number issued by the Unique Identification Authority of India (UIDAI) to every individual resident of India. It serves as proof of identity and address, regardless of the person’s age, gender, religion, or economic status.
The Aadhaar number is linked to the individual’s biometric and demographic data, including fingerprints and iris scans, as well as demographic information such as name, address, date of birth, and gender. The Aadhaar number is used for various services and benefits, such as opening a bank account, obtaining a SIM card, receiving government subsidies, and filing taxes.
LINKING OF PAN AND AADHAR NUMBER:
As per CBDT circular F. No. 370142/14/22-TPL dated 30th March 2022, every person who has been allotted a PAN as on 1st July 2017 and is eligible to obtain an Aadhaar number is required to link PAN with Aadhaar on or before 31st March 2022.