Aadhaar-PAN Linking Mandatory for Small Savings Schemes, Know the New Rules
Aadhaar-PAN Linking, Mandatory for Small Savings Schemes, Know the New Rules, It is now mandatory to submit the Aadhaar and PAN cards to benefit from small savings schemes sponsored by the Modi government, such as the PPF, NSC, Sukanya Samriddhi Yojana, and Senior Citizen Savings Scheme.
In order to obtain the benefits of these schemes, you must have linked your Aadhaar and PAN card to your account. If you do not do this, your account may be frozen. Also Read UIDAI AADHAAR
What are the new rules
To protect small savings schemes from fraud, the government made Aadhaar and PAN cards mandatory.
The changes take effect on April 1, 2024, and they are designed to ensure that account holders are correctly identified and data is organized.
Aadhaar-PAN Linking Mandatory
Aadhaar cards must be submitted within 6 months. You can also provide an enrollment slip or enrollment number during this time. If Aadhaar is not submitted within 6 months, the account will be frozen.
Mandatory requirement of PAN card
The PAN card or Form 60 must be submitted within 2 months of opening the account. If it is not submitted, the account will be frozen and no transactions will be permitted.
How it will be beneficial
By linking Aadhaar and PANs, you increase your identity security and protect your identity from fraud. As a result, the government will be able to bring transparency to the schemes and protect investors’ identities.
Government objective
By taking this step, the government intends to prevent fraudulent activities and bring transparency to savings schemes.
It is being ensured that only eligible persons can take advantage of the benefits of these schemes by submitting their Aadhaar and PAN card information.
As a result, fake accounts and identities will be prevented, thereby increasing economic transparency.
FAQs About Aadhaar-PAN Linking
Q1) How can I link my Aadhar card with PAN online?
Ans:- To link your Aadhaar and PAN, click on the Quick Links section on your e-filing portal home page or click on the Profile section on your e-filing portal home page. Next, enter your Aadhaar Number and PAN. Finally, click on Continue to Pay Through e-Pay Tax.
Q2) Is Aadhaar PAN linking free?
Ans:- At the center, you need to bring your PAN, Aadhaar, fee paid (of Rs.1000/) challan copy, and pay the biometric authentication fee. Visit the respective websites of Protean/UTIITSL for information on authorized Service Providers for biometric authentication.
Q3) How can I find my PAN card by Aadhaar?
Ans:- The first step is to visit the e-Filing portal homepage and click Instant e-PAN. The second step is to click Continue on the Check Status / Download PAN option on the e-PAN page. Step three is to enter your 12-digit Aadhaar number.
Conclusion
Aadhaar-PAN Linking for small savings schemes, the government has mandated the linking of Aadhaar and PAN cards. This promotes economic transparency and ensures investors identities are protected.
