Before you start investing, make sure your KYC is in place. Here’s how to check and update it online in minutes.
Ensuring accurate details in PAN and Aadhaar is crucial for smooth income tax return filing and verification.
Update your banks, investments, and insurance with your mobile number and email by changing them in advance.
If you failed to meet the deadline for linking your PAN to Aadhaar, here's what it can do to your money—and how you can fix it now.
With rising India-Pakistan tensions, securing vital documents like PAN and Aadhaar in DigiLocker ensures safe, instant access during emergencies.
PAN 2.0 is designed to simplify tax filing processes, improve security and boost accessibility while offering advanced features for streamlined financial and tax transactions.
The action was taken after the Indian Computer Emergency Response Team (CERT-In), under the Ministry of Electronics and Information Technology, found security flaws in the websites
As per income tax rules, if a Permanent Account Number (PAN) is not linked with biometric Aadhaar, TDS is required to be deducted at double the applicable rate.
Pan-Aadhaar link deadline: To link PAN with Aadhaar, you need to pay a fine of ₹1,000. This can be done on the NSDL portal. It's important to note that the Income Tax department will not process tax returns until your PAN and Aadhaar are linked.
Income Tax department stated that those who attempt to link the documents online after the deadline will be charged Rs 1,000.
PAN-Aadhaar linking: Not linking PAN and Aadhaar will hinder income tax return-filing process, investments in mutual funds and stocks. You can seed your Aadhaar with PAN through the income tax e-filing website. You will, however, pay a late fee of Rs 1,000 before commencing the process. If you happen to miss this deadline, you can make your PAN operative again within 30 days by seeding your Aadhaar and paying a penalty of Rs 1,000.
PAN-Aadhaar linking: While the linking of PAN with Aadhaar has been made mandatory, there are some categories exempt from the rule.
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PAN-Aadhaar Link Status: Failing to link your Aadhaar with your PAN by March 31, 2023, could result in your 10-digit unique alphanumeric number becoming inoperative
Our specially curated package of the big stories to help you stay at the top of your game.
The non-compliance with this would be considered non-KYC compliant, and there could be restrictions on securities and other transactions until the PAN and Aadhaar are linked, Sebi said in a statement.
Some of the celebrities whose names and details were used by the fraudsters are Abhishek Bachchan, Shilpa Shetty, Madhuri Dixit, Emraan Hashmi and Mahendra Singh Dhoni, Deputy Commissioner of Police (DCP) of Shahadra Rohit Meena said.
Finance Minister Nirmala Sitharaman proposed in Budget 2023 that PAN will be used as the common identifier for all digital systems of specified government agencies.
The government has made the linkage of the two databases mandatory and declared that those individual PANs that are not attached to the Aadhaar by the end of this financial year (March 31, 2023) will be rendered inoperative.A fee of Rs 1,000 will be payable for those who want to link their PAN and Aadhaar between now and March 31.
The announcement regarding PAN was made by Finance Minister Nirmala Sitharaman in her Budget speech on Wednesday.
The steps taken to simply KYC will in turn simplify digital spending and investment processes, say fintech startups and investors.
CBDT’s move aimed at curbing unaccounted financial transactions and keeping a check on cash transactions, say tax experts
The income-tax department has notified penalties for non-linkage of PAN and Aadhaar; PAN to be inoperative if not linked to Aadhaar.
The Commerce and Industry Minister said more than 25,000 compliances have been reduced by centre so far. But now, the time has arisen to 'think big' and make major reforms to reduce compliance further, he added.
As per the proposed plan, up to 10 per cent of the LIC IPO issue size would be reserved for policyholders.