Consequences if PAN & Aadhaar cards are not linked

What happens If Permanent Account No & Aadhaar cards are not linked

• Your Permanent Account N​umber will expire on June 30, 2023, if your Aadhaar &  Permanent Account N​umber are not linked.
• You will not be able to provide, intimate, or cite your Permanent Account N​umber if it becomes inoperative, and you will be held accountable for all Act-related penalties for this failure.
• Few Permanent Account N​umber Holders who have not linked their Permanent Account N​umber with their Aadhaar are exploring the option to pay INR 118/- & get a new Permanent Account N​umber or go for E Permanent Account N​umber Aadhaar based for free rather than paying Rs, 1,000/- as a penalty
• It appears they are unaware that owning two or more Permanent Account Number cards sent to jail for possessing two or more Permanent Account N​umber cards.
• Please refrain from creating additional or extra Permanent Account Numbers if you already have one; you will be liable to pay additional fees and even going to jail.

Implication in case Permanent Account N​umber & Aadhaar cards are not linked

Above have various implication in case Permanent Account N​umber & Aadhaar cards are not linked like as:

• Tax will be needed to be deducted at a higher rate as Permanent Account N​umber becomes inoperative.
• Pending Income tax returns will not be processed.
• You shall not be able to file Income tax return using the inoperative Permanent Account N​umber.
• Pending proceedings as in the case of defective Income tax returns cannot be completed once the Permanent Account N​umber is inoperative.
• Pending Income tax refunds cannot be issued to inoperative Permanent Account N​umber’s.
• You may face a higher TDS Rate on your savings interest.

Above consequences will be take effect from 1.07.2023.

(Read about –Consequences of non-operative PAN)

How to Delink an PAN Card with Aadhaar Card?

Steps to delink if Aadhaar is linked with the incorrect Permanent Account N​umber? Or steps to delink if the permanent account number​ is linked with the incorrect Aadhaar?

• You can file an application request with your jurisdictional assessing officer for delinking Aadhaar from the permanent account number.
• After delinking, file or submit a Link AADHAR request post fee payment of the applicable amount, if not already done.
• To know your Jurisdictional Assessing Officer’s contact details, visit

https://eportal.incometax.gov.in/iec/foservices/#/pre-login/knowYourAO

Post Income Tax Portal Login 

Login to e-Filing portal>> Go to My Profile >> Click on jurisdictional details.

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How to surrender or cancel the PAN card of a partnership firm online or offline process?

Basic Process of surrendering a PAN for a dissolved partnership firm or correcting/updating PAN details. Below is a detailed breakdown of both the online and offline procedures: structured approach to ensure the termination of a partnership firm’s BPCL distributorship and the necessary steps for updating/surrendering the PAN:

Draft the Dissolution Deed : Prepare a Dissolution Deed outlining:

• Names of partners & firm details.
• Date of dissolution and reason (mutual consent, expiry of term, etc.).
• Division of assets, liabilities, and BPCL distributorship responsibilities.
• Settlement of dues and obligations.
• Partner’s indemnity and no-objection clauses.
• Signatures of all partners with witnesses.

Online Process (For Changes or Reprint of PAN Card)

• Visit the NSDL Website: Go to the official Protean (formerly NSDL) PAN portal: https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html

• Select the application type: The next step is to choose “Changes or Correction in Existing PAN Data/Reprint of PAN Card (No Changes in Existing PAN Data)”. Fill in details, including the reason (dissolution of firm).

• Fill Out the Form : Thereafter, we enter required details, including the existing PAN number, firm details, and reason for correction. therafter Upload documents (Dissolution Deed, PAN Copy, Last ITR Acknowledgment).

• Submit the Form Online : After submission, a unique token number will be generated and sent to your registered email.

• Complete Payment & Upload Documents : Upload required documents (e.g., proof of identity, dissolution deed if applicable). and Pay the processing fee online.

• Download & Send Physical Copy (If Required): If requested, download the Acknowledgment Receipt, print it, sign it, and send it with physical documents to the designated NSDL office. Print the acknowledgment and send it to NSDL PAN Office if required

Offline Process (For Surrendering a PAN Due to Firm Dissolution)

• Draft a Letter to the income tax officer : Taxpayer Address it to the ITO of the jurisdiction where the firm filed its taxes. Include the reason for surrendering PAN (e.g., dissolution of the firm).

• Attach Supporting Documents : Copy of the PAN card, proof of dissolution (e.g., dissolution deed of the partnership firm). and acknowledgment of the last ITR filed.

• Submit the letter & documents: Visit the jurisdictional income tax officer’s office and submit the application. Alternatively, submit it to the nearest PAN service center (UTIITSL or NSDL e-Gov centers).

• Follow-up & Confirmation : The IT department may issue an acknowledgment confirming the PAN surrender.