Failure to hyperlink PAN with Aadhaar will make your PAN inoperative. (Photo: News18 Telugu)
PAN-Aadhaar linking and better EPFO pension deadlines have been prolonged as a way to give residents extra time to finish the procedures
PAN-Aadhaar linking and better EPFO pension deadlines have been prolonged as a way to give residents extra time to finish the procedures. Failure to hyperlink PAN with Aadhaar will make your PAN inoperative. And, the upper EPFO pension facility is for individuals who need a larger pension after retirement.
PAN-Aadhaar Linking
The deadline for linking your PAN with Aadhar is June 30, 2023. Earlier, it was March 31. If PAN turns into inoperative, the revenue tax division will contemplate that the person has not submitted PAN and subsequently liable to face the implications for a similar.
“Where an individual, whose everlasting account quantity has grow to be inoperative…, is required to furnish, intimate or quote his everlasting account quantity beneath the Act, it shall be deemed that he has not furnished, intimated or quoted the everlasting account quantity, because the case could also be, in accordance with the provisions of the Act, and he shall be chargeable for all the implications beneath the Act for not furnishing, intimating or quoting the everlasting account quantity,” the CBDT talked about earlier.
PAN (Permanent Account Number) is a unique 10-digit alphanumeric identifier issued by the Income Tax Department. Aadhaar is a 12-digit unique identification number issued by the Unique Identification Authority of India (UIDAI). Linking PAN with Aadhaar is mandatory for taxpayers in India for several reasons.
Higher EPFO Pension
Retirement fund body EPFO also extended the date for filing applications to opt for a higher pension till June 26, 2023. Earlier, it was May 3. The deadline was extended to provide a larger window of opportunity and to enable all eligible persons to file their applications.
Many representations have been received from various quarters seeking an extension of time, and this was decided after sympathetically considering the various demands received from employees, employers and their associations.
The Employees’ Provident Fund Organization has made preparations for acquiring purposes for validation of possibility/joint possibility from pensioners/members as per the Supreme Court order on November 4, 2022.
