As the date of 31st December is approaching, confusion is increasing among the taxpayers regarding linking of PAN-Aadhaar as to who is required to link PAN-Aadhaar and who is exempted from it. While linking PAN with Aadhaar is mandatory for most people, the Income Tax Act also exempts some people from it.
For some people it is not necessary to link PAN-Aadhaar. These include non-resident Indians covered under the Income Tax Act, as well as those people for whom the government has given exemption from making Aadhaar, they are also exempted from linking Aadhaar-PAN. Let us tell you that there is exemption from Aadhaar-PAN linking for people with certain specific circumstances in Assam, Meghalaya, Jammu and Kashmir and Ladakh. Apart from this, it is not necessary to link Aadhaar-PAN even for those above 80 years of age (Super Senior Citizen).
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What should such people do?
It is not necessary to link PAN-Aadhaar for those people for whom it is not mandatory to make Aadhaar. If someone does not have Aadhaar, then in such a situation his PAN does not stop working. However, it is mandatory for anyone to whom Aadhaar is issued to link Aadhaar with PAN, even if you are exempted from it.
Rules for joint holders
Since Aadhaar is of an individual only and not of any institution, in case of joint bank account, joint demat account and joint investment, it is necessary to link the Aadhaar of both the individuals with PAN. In such a situation, if the PAN of one holder becomes inactive, then the transactions related to that PAN may be banned, even if the PAN of the other holder is completely compliant.
What about minors?
Minors who have been allotted PAN do not need to link it with Aadhaar until they attain majority. Once a minor turns 18 and Aadhaar becomes mandatory, it will be necessary to link PAN to Aadhaar to prevent the PAN from becoming inactive.
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rules for dead people
PAN-Aadhaar linking is not required for deceased persons. If the PAN belongs to someone who has died, family members or legal heirs are not required to complete the linking. However, to avoid compliance issues in future, PAN should be surrendered through the prescribed process.
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