PAN with Aadhaar Link: PANs of 10 crore NRIs made inactive? Income Tax Dept responds to false claim

Introduction:

In recent times, there has been a false claim circulating regarding the deactivation of PANs (Permanent Account Numbers) for 10 crore NRIs (Non-Resident Indians) due to the PAN with Aadhaar link. The Income Tax Department has promptly responded to clarify the situation. This misinformation has caused confusion among individuals, leading to concerns about their PAN status and implications for their financial matters. In this article, we aim to provide accurate information and debunk the false claim, shedding light on the PAN-Aadhaar link and its impact on NRIs. By addressing the misconceptions, we hope to alleviate any anxieties and provide clarity on the matter. Let’s delve into the facts surrounding the PAN-Aadhaar link and the truth behind the claim.

The Income Tax Department (ITD) has responded to a false claim that the PANs of 10 crore NRIs have been made inactive. The claim was made on Twitter by a user who alleged that the ITD had “frozen” the investments and bank balances of NRIs whose PANs had been made inactive.

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The ITD has clarified that this is not the case. The department said that only PANs that have not been linked with Aadhaar have been made inactive. This means that NRIs whose PANs have been made inactive can still access their investments and bank balances in India. They can not record their personal expense forms, open a ledger, or put resources into monetary items.

The ITD has also said that NRIs can link their PAN with Aadhaar even after the deadline of June 30, 2023. Be that as it may, they should suffer a consequence of Rs. 500 for late connecting.

The ITD’s clarification comes after a number of NRIs expressed concern about the impact of the PAN with Aadhaar linking deadline on their investments and bank balances in India. The ITD has assured NRIs that their assets and bank balances are safe and that they can continue to access them even if their PANs have been made inactive.

Here is a portion of the outcomes of not connecting Aadhaar with Dish:

• You can not record your annual assessment forms.

• You can not open a ledger or put resources into monetary items.

• You might need to suffer a consequence of Rs. 500 for late linking.

If you are an NRI and you have not yet linked your PAN with Aadhaar, you can do so online or by visiting a PAN service center. The deadline for linking PAN with Aadhaar is July 31, 2023.

Here are the steps on how to link PAN with Aadhaar online:

Snapshot Source: www.incometax.gov.in

• Go to the Income Tax Department website.

• Click on the “Link Aadhaar” tab.

• Enter your PAN and Aadhaar number.

• Enter the captcha code.

• Click on the “Link Aadhaar” button.

Here are the steps on how to link PAN with Aadhaar at a PAN service center:

• Visit a PAN service center.

• Fill out the PAN-Aadhaar linking form.

• Submit your PAN and Aadhaar number.

• Pay the linking fee of Rs. 500.

• You will receive a receipt confirming that your PAN with Aadhaar has been linked.

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Additional content:

• The ITD has also said that it will not be able to provide any tax benefits or relief to NRIs whose PANs have been made inactive.

• NRIs who can’t connect their Skillet PAN with Aadhaar on schedule might have the option to do so later, however, they should apply for a new Container.

• The ITD has said that it is doing whatever it may take to make it more straightforward for NRIs to interface their Skillet PAN with Aadhaar. These steps include providing more information on the ITD website and opening more PAN service centers in foreign countries.

I hope this additional information in this article is more informative and helpful.

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