Link PAN with Aadhaar Card – Just a Few Weeks Left : The Income Tax Department is quite particular about the linkage of PAN card with Aadhaar details either online or offline. It has made an official announcement that people need to link PAN with Aadhaar before 31st March. The people who are about to file their IT returns must and should link their Permanent Account Number with Aadhaar Number at least by the end of this month. As per the latest notification released by the Income Tax Department, people need to link the two identification numbers such as the 10 digit PAN number as well as the 12-digit Aadhaar number by the end of 31st March 2019.
These are quite essential for filing Income Tax Returns online or offline. If you have not yet linked your PAN card with your Aadhaar card until now then, there are less than 4 weeks for it. So, just go ahead and finish the linkage process. It is compulsory for every individual especially those who file the IT returns to link Aadhaar and PAN card. The PAN card holders who finish the linkage process are only eligible to file their Income Tax Returns. The inspector who collects all the taxes urged the income tax assesses so as to link their PAN card with their valid bank accounts.
The income tax department recently tweeted on its official microblogging website that reads ‘Link your PAN with your Bank Account…. Get your refund directly, swiftly and securely in your bank account.’ From the date 1st March 2019, the Income Tax Department will issue only e-refunds. Therefore, the people can find their refund amount directly credited to their respective bank accounts. This could become possible only when the income tax assesses links their PAN and bank accounts with their original Aadhaar card. Here is everything you need to know about filing income tax returns before the due date. Also, ensure that you have linked your PAN and bank accounts with Aadhaar number. Have a look!
Link PAN and Bank accounts with Aadhaar
This particular rule will be levied on those who have current, cash, savings and overdraft bank accounts. You can check out the official notification on the official income tax website. As of now, the Income Tax Department is issuing the refund amount to the Income Tax assesses through their bank accounts or sending the account payee cheques to their respective residential addresses. The Income Tax Department has made it clear that the assessee will be capable of checking the bank account linkage status with their PAN card right from the e-filing web site i.e., at incometaxindiaefiling.gov.in.
PAN card and aadhaar are now been linked with the bank accounts so that all the individual information and the bank account information is now with the government of india , which will help the government to reduce the tax fraud and provide more benefits related to paying taxes for the taxmen of our country , the government has laid certain rules according to which the linking of PAN and aadhaar with your bank account is now essential .
How to Link PAN Card with Bank Account Manually?
Follow the simple steps given below that helps the assessee to link their PAN with their respective bank accounts. The Income Tax Department has provided this in-depth tutorial for the taxpayers.
- First of all, visit the nearest bank branch in your city.
- Give your PAN card details to the banking executive who collects your information.
- You need to authorize the bank account just by logging into the official Income Tax Department e-filing web portal.
- After logging into the official e-filing portal, you need to enter the vital information.
- This can be done by tapping the link that reads ‘Pre-validate your account’ present under the Profile-Setting section.
If the bank that you have your account is already integrated with the official e-filing web portal then, the pre-validation will be finished directly via EVC and the net banking route. The Income Tax Department has made this information clear to the people earlier. In case, if the bank is not integrated then, the Income Tax Department will validate your bank account with the help of the information given by the user earlier.
PAN is an acronym for Permanent Account Number. It is actually a 10-digit alphanumeric number. The Income Tax Department will issue this number to the assessee. With the help of a valid PAN number, the taxman can link their transactions with much ease. Some of the transactions include TDS [Tax Deducted at source], TCS [Tax collected at source] credits, tax payments, and income tax returns.
PAN is required for any citizen who is earning and is bound to pay income taxes to Government Of India and with PAN card governmnet has a record of the income of an individual and according to which they impose income tax on that particular person that is the reason why it is important to have a PAN card linked to your bank account without linking the PAN card bank will not open your account , PAN is also required at the time filling for income tax returns as the 10 digit number is asked by the income tax department when you go for income tax returns .