26/03/2022
We greatly value your relationship with us and thank you for your continued patronage.
This is to inform you that as per CBDT directive U/s 139AA, customers must link their PAN with Aadhaar latest by March 31, 2022. Accordingly, if a person allotted with a PAN, fails to link it with Aadhaar on or before March 31, 2022, the PAN will become inoperative.
The rule further states that, "Inoperative PAN" is to be considered as PAN not furnished. Hence, banking transactions where PAN is mandatory, will be impacted and higher TDS rates will be applicable.
Indicative list of restricted banking transactions which will attract higher TDS rates:
• Cash Deposit > INR 50,000
• 15 G/H submission
• Fixed Deposit booking of > INR 50,000
• Debit Card/Credit card issuance
• Higher TDS rate for interest on deposits & cash withdrawal (wherever applicable)
As per income tax records, your PAN is yet to be linked to Aadhaar. Click here to link now.
Thanks you,
CA Dayanand Singh
