Permanent Account Number(PAN) is a unique number issued by the Indian Income Tax Department used to track financial transactions
As per the Income Tax Act, it is mandatory to link a PAN with an Aadhaar. Failing to link these two results in the PAN becoming inoperative.
Following are the consequences of an inoperative PAN:
Inability to file e-TDS.
Higher TDS rates applied.
Incomplete or mismatched tax information in AIS.
Unable to submit 15G/15H Declarations.
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Related Links:
Video - To watch the video PAN updation, click here.
FAQs - To read more FAQs about PAN, click here.
Documentation - To read more about the PAN page, click here.
Product Update - To read about the product update, click here.
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