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The <keyword id="19938467" type="General" weightage="20" keywordseo="deadline" source="keywords">deadline</keyword> for filing your <keyword id="19995225" type="General" weightage="20" keywordseo="income-tax-return" source="keywords">income tax return</keyword> for AY 2024-25 i.e. July 31st is knocking right at your door. If you are yet to file your <keyword id="19897621" type="General" weightage="20" keywordseo="itr" source="keywords">ITR</keyword>, you still have some time. But there are certain things that you must remember and double-check before you click on submit ITR-from picking out the right form to ensuring that all the details you’ve furnished are correct. Read on to know the top five things that you must remember before <keyword id="19942833" type="General" weightage="100" keywordseo="ITR-filing" source="keywords">ITR filing</keyword>. <h2>Linking your PAN with Aadhar is mandatory</h2>Before you file your ITR, ensure that your <keyword id="19985317" type="General" weightage="20" keywordseo="Pan-card" source="keywords">PAN card</keyword> is linked to your <keyword id="19952125" type="General" weightage="20" keywordseo="Aadhar-card" source="keywords">Aadhar card</keyword>. You can’t file your ITR without linking your Pan to Aadhar first. This can be done online. In case you’re wondering whether or not your PAN is linked to your Aadhar card, you can visit <a href="https://eportal.incometax.gov.in/iec/foservices/#/pre-login/verifyYourPAN">this</a> link and verify. However, remember that this process can take up to 6-10 days to complete, so you'll have to jump aboard the belated ITR bandwagon in case you've just initiated the linking process. <h2>Pick the correct form</h2>Choosing the correct form is one of the most important things that you need to keep in mind while filing your ITR. For instance, the ITR-1 form is designed for resident individuals who have income from salary, one house property, and other sources such as interest or dividends, provided their total income does not exceed Rs 50 lakh. On the other hand, ITR-2 is applicable to individuals and Hindu Undivided Families (HUFs) with income from capital gains or foreign assets.<div type="Article" hostid="261" msid="111406215" title="Wondering which ITR form is right for you? Know all about it here" mstype="2" mssubtype="0"></div> ITR-3 is applicable for those who have income from business or professions, or those who are self-employed. ITR-4 is filled by those who opt for presumptive taxation. <h2>Remember to <keyword id="22469557" type="General" weightage="20" keywordseo="e-verify" source="keywords">E-verify</keyword> your return: </h2>Think you're done with your ITR filing? Think again! You will also need to e-verify your return. If the e-verification is not done within 30 days from filing your ITR, it will be rendered invalid, and will be considered as not filed. You will also not receive any refunds in the absence of e-verification of your ITR. You can easily e-verify your ITR via generating an OTP on your mobile number linked with Aadhar, or by generating an electronic verification code (EVC) through your pre-verified bank account or demat account. <h2>Check your documents and details</h2> When you are trying to get things done quickly, it isn’t uncommon to forget double-checking the details entered. Do remember to double-check all the details that you enter in your ITR. Also, filing an ITR requires certain documents like bank statements, investment proofs, <keyword id="19948097" type="General" weightage="20" keywordseo="tds" source="keywords">TDS</keyword> certificates, Form 16 etc. Even though you don’t have to attach these documents in the ITR, you must keep them handy. <div type="Article" hostid="261" msid="111402608" title="ITR filing: Documents you need to file your income tax return" mstype="2" mssubtype="0"></div> <h2>Check income and investment details</h2> If you have just one source of income, the process is easy as you just need to mention that in your ITR. However, if you have <keyword id="22106780" type="General" weightage="20" keywordseo="multiple-sources-of-income" source="keywords">multiple sources of income</keyword>, you need to be careful and mention all of them. Similarly, ensure that you have entered all investment details in the form correctly. Do not forget to mention your interest earned on savings and fixed deposits, dividend income (if any) or income from other sources, since that could lead to hefty penalties.

Five things to remember as you file your ITRs at the last minute

<ul><li>The government has warned about a new way <keyword id="19962622" type="General" weightage="20" keywordseo="scammers" source="keywords">scammers</keyword> are trying to obtain <keyword id="20189059" type="General" weightage="20" keywordseo="personal-information" source="keywords">personal information</keyword>.</li><li>Users have reportedly received an SMS asking them to update their PAN to unblock their <keyword id="20417750" type="General" weightage="20" keywordseo="bank-account" source="keywords">bank account</keyword>.</li><li>Here's everything you need to know about the <keyword id="22918614" type="General" weightage="100" keywordseo="fake-PAN-SMS" source="keywords">fake PAN SMS</keyword> and how to stay safe.</li></ul>Increased usage of the internet has also resulted in an increase in <keyword id="20025584" type="General" weightage="20" keywordseo="online-fraud" source="keywords">online fraud</keyword>. Scammers are finding new ways to fool people and steal from them. A new method has now been revealed, which preys on users with an account in <keyword id="19985316" type="General" weightage="20" keywordseo="India-Post-Payments-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="India Post Payments Bank" meta.hostid="261" meta.entityid="India Post Payments Bank">India Post Payments Bank</keyword>. According to a post by PIB Fact Check, several users have received an SMS which claims to be from India Post Payments Bank. However, the message is fake and is an attempt to steal user data. “This claim is #Fake. @IndiaPostOffice never sends any such messages. Never share your personal &amp; bank details with anyone,” PIB Fact Check said in its post on X. <div type="twitter" handle="PIBFactCheck" handlename="PIBFactCheck" favoritecount="0" retweetcount="0" id="1825494609881170290"></div> <h2>What is the fake PAN SMS?</h2> In the SMS, the user is warned that their India Post Payments Bank account has been blocked. It then asks the users to update their PAN to get their account unblocked. The user is then given a link, asking them to click on the link to update their PAN. <div type="Article" hostid="261" msid="111512587" title="Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike" mstype="2" mssubtype="0"></div> The link then redirects the user to a <keyword id="20182216" type="General" weightage="20" keywordseo="phishing" source="keywords">phishing</keyword> page, aimed at stealing user data such as their bank account login details to gain access to their account. Once you enter your bank account login details, they will be sent to the scammer. <h2>What is phishing?</h2>Phishing is a cyber-attack where attackers impersonate legitimate organisations or individuals to trick people into revealing sensitive information like passwords or credit card details. This is usually done through deceptive emails, messages, or fake websites. <h2>How to stay safe from phishing attacks?</h2>Here are some ways you can identify phishing attacks and stay safe: <ul><li>Verify the sender: Check the sender’s email address or phone number carefully. Phishers often use addresses that look similar to legitimate ones but have small differences.</li><li>Look for red flags: Be wary of unexpected messages, especially those requesting sensitive information or containing urgent or threatening language.</li><li>Verify before opening: Only open attachments from trusted sources. Phishing emails often contain malware disguised as legitimate files.</li><li>Add two-factor authentication: Enable two-factor authentication on your accounts. This adds an additional layer of security even if your password is compromised.</li><li>Contact directly: If you receive a request for sensitive information, verify the request by contacting the organisation directly through known and trusted channels.</li><li>Report phishing attempts: Report phishing emails to your email provider or the relevant authorities. This helps in tracking and stopping phishing schemes.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9s-pro-vs-moto-edge-50-fusion-which-is-the-best-smartphone-under-25000/slidelist/112703633.cms">iQOO Z9s Pro vs Moto Edge 50 Fusion – which is the best smartphone under ₹25,000?</a>

Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe

<ul><li>You can go to the <keyword id="6354751" type="General" weightage="20" keywordseo="Income-Tax" source="Orion">Income Tax</keyword> India website and link your <keyword id="61610" type="General" weightage="100" keywordseo="pan" source="Orion">PAN</keyword> with <keyword id="144117" type="General" weightage="80" keywordseo="aadhaar" source="Orion">Aadhaar</keyword> by paying a late fee of ₹1,000. </li><li>The site to <keyword id="4949857" type="General" weightage="80" keywordseo="link-pan-and-Aadhaar" source="Orion">link PAN and Aadhaar</keyword> has crashed and is currently not functioning. </li><li>The deadline to link PAN and Aadhaar is likely to be extended by a few months.</li></ul>The deadline for linking PAN and Aadhaar has been extended to June 30, 2023. If it is not done within that time, the <keyword id="74488" type="General" weightage="20" keywordseo="pan-Card" source="Orion">PAN card</keyword> will become inoperative according to a tweet by the official Twitter handle of Income Tax India. If your PAN becomes inoperative, you will not be able to use it for various purposes, like filing ITR returns. However, you need to pay a late fee of ₹1,000 before you request the PAN/Aadhaar link. The earlier deadline to link PAN and Aadhaar without a fine was 31 March, 2022. <cmsannotation type="cmsannotation" annotationid="How to check whether your PAN and Aadhar is link status" comment="subhead2" text="How to check whether your PAN and Aadhar is link status">How to check whether your PAN and Aadhar is link status</cmsannotation> If you have already linked your PAN and Aadhaar and want to check the status, here are the steps to follow. 1. Go to the Income Tax e-filing portal: <a href="https://www.incometax.gov.in/iec/foportal/">https://www.incometax.gov.in/iec/foportal/</a> 2. Under ‘Quick Links’ click on ‘Link Aadhaar status’. 3. Enter your 10-digit PAN number and 12-digit Aadhaar number. Then click on ‘View Link Aadhaar Status’. 4. If your PAN is linked to Aadhaar, the confirmation will be displayed on your screen. 5. If the PAN Aadhaar link is in progress, the message ‘Your Aadhaar-PAN linking request has been sent to UIDAI for validation’ will be displayed. 6. When your PAN is not linked to Aadhaar, you will see the following message — ‘PAN not linked with Aadhaar. Please click on ‘Link Aadhaar’. Alternatively, you can also check the status by messaging IDPAN SPACE 12 digit Aadhaar SPACE 10 digit PAN to 567678. <cmsannotation type="cmsannotation" annotationid="How to pay the late fee?" comment="subhead2" text="How to pay the late fee?">How to pay the late fee?</cmsannotation> The fee payment for PAN-Aadhaar Linkage needs to be made through e-Pay Tax functionality available on e-filing Portal. You can check for the list of authorized banks by navigating to e-Pay tax functionality. If you have a bank account which is authorized for e-Pay tax, please follow below steps: 1. Visit e-Filing portal Home page and click on Link Aadhaar in Quick Links section. 2. Enter your PAN and Aadhaar Number. 3. Click on ‘Continue to Pay Through e-Pay Tax’. 4. Enter your PAN, Confirm PAN and Mobile number to receive OTP. 5. Post OTP verification, you will be redirected to e-Pay Tax page. 6. Click on Proceed on the Income Tax Tile. 7. Select AY 2023-24 and Type of Payment – as other Receipts (500) and continue. 8. Enter the amount as ₹1,000 under “Others” field in tax break-up and proceed with further steps. If your bank is not authorized then you need to make the payment through a different link under e-Pay Tax functionality. <cmsannotation type="cmsannotation" annotationid="Steps to link PAN and Aadhaar" comment="subhead2" text="Steps to link PAN and Aadhaar">Steps to link PAN and Aadhaar</cmsannotation> PAN and Aadhaar can be linked online by following the below steps: 1. Open the Income Tax e-filing portal - <a href="https://incometaxindiaefiling.gov.in/">https://incometaxindiaefiling.gov.in/</a> 2. Register on it (if not already done). Your PAN (Permanent Account Number) will be your user ID. 3. Log in by entering the User ID, password and date of birth. 4. A pop up window will appear, prompting you to link your PAN with Aadhaar. If not, go to ‘Profile Settings’ on the Menu bar and click on ‘Link Aadhaar’. 5. Details such as name and date of birth and gender will already be mentioned as per the PAN details. 6. Verify the PAN details on screen with the ones mentioned on your Aadhaar. Please note that if there is a mismatch, you need to get the same corrected in either of the documents. 7. If the details match, enter your Aadhaar number and click on the “link now” button. 8. A pop-up message will inform you that your Aadhaar has been successfully linked to your PAN. 9. You may also visit <a href="https://www.utiitsl.com/">https://www.utiitsl.com/</a> OR <a href="https://www.egov-nsdl.co.in/">https://www.egov-nsdl.co.in/</a> to link your PAN and Aadhaar. As mentioned, your PAN card will become inoperative if you miss the deadline. However, the income tax site has crashed and Twitter is full of complaints from people who are not able to check the status or link their PAN and Aadhaar card. Many are also complaining that they cannot complete the process even after they have made a payment and are being shown a variety of errors. For those who have not linked PAN to Aadhar, it should be done as a top priority. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/employees-provident-fund-interest-rate-fixed-at-8-15-for-2022-23/articleshow/99054357.cms">Employees' provident fund interest rate fixed at 8.15% for 2022-23</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/ipl-2023-schedule-timing-streaming-venues-new-rules-and-more-you-need-to-know/slidelist/99052565.cms">IPL 2023 – schedule, how to watch IPL for free, venues, new rules and more</a>

All you need to know about linking Aadhaar to PAN

<keyword id="22524198" type="General" weightage="20" keywordseo="nonstick-cookware" source="keywords">Nonstick cookware</keyword> with its <keyword id="22334184" type="General" weightage="20" keywordseo="Teflon" source="keywords">Teflon</keyword> coating has had a bad reputation since the early 2000s, cancer being one of its many alleged evils. And yet, not only is a nonstick pan found in almost every kitchen, it is also among the most-loved dishes to cook with — who doesn’t like it when their dosa comes out perfectly crisp AND lifts off the tawa off its own accord without having to scrape? But if recent news around the ‘<keyword id="22524197" type="General" weightage="100" keywordseo="Teflon-flu" source="keywords">teflon flu</keyword>’ is having you eye your beloved nonstick rather suspiciously, we gotchu. According to a recent report, over 250 Americans were hospitalised last year due to a condition called ‘<keyword id="22541724" type="General" weightage="20" keywordseo="teflon-fever" source="Orion">Teflon fever</keyword>’, formally known as <keyword id="22541725" type="General" weightage="20" keywordseo="polymer-fume-fever" source="Orion">polymer fume fever</keyword>. Its symptoms range from mild flu-like symptoms such as headache and body aches to more severe conditions requiring medical attention. <div type="Article" hostid="261" msid="91352745" title="Healthy people are at-risk of liver disease from &amp;#39;forever chemicals&amp;#39; in takeout containers and non-stick pans, scientists say" mstype="2" mssubtype="0"></div><h2>What is Teflon flu? </h2>Teflon, or polytetrafluoroethylene (PTFE), is a synthetic chemical that creates a non-stick surface on cookware. While convenient, it can pose <keyword id="19977451" type="General" weightage="20" keywordseo="health-risks" source="keywords">health risks</keyword> if mishandled. When Teflon-coated cookware is overheated — to above 500°F (or 260°C), the coating can deteriorate, releasing harmful fumes into the air. These fumes contain a complex mix of fluorinated substances that can cause flu-like symptoms when inhaled. While Teflon cookware is a common culprit, it's important to note that other sources can also lead to similar symptoms. For instance, people working in welding or metal-related industries are at risk of metal fume fever, caused by inhaling fumes from heated metals. Symptoms of both Teflon flu and metal fume fever can include fever, chills, cough, chest tightness, and muscle aches. And if you experience these symptoms after exposure to fumes, it's essential to seek medical attention. <h2>How to prevent Teflon flu?</h2>To minimise the risk of Teflon flu and prolong the life of your cookware, follow these guidelines: Avoid overheating! Teflon flu becomes a problem when the nonstick cookware is heated past the 260°C-mark. However, this is rare as the temperature most meats and other foods are looked at is 75°C or hotter. When cooking on a Teflon-coated pan, using medium or low heat is recommended to prevent high heat from damaging the coating and releasing harmful fumes. If you’re looking to broil or sear your food, then avoiding your nonstick and opting for an iron skillet instead is recommended. Also, never heat your nonstick without oil or food already in it to prevent overheating. Proper ventilation To avoid inhaling any fumes that your Teflon-coated pan might be emanating, using the kitchen exhaust fan or opening the windows might be ideal. Utensil care The other major concern with Teflon coating is that it has been linked to various health conditions upon ingestion. One must avoid scratching it and only use wooden or silicone spatulas on it. Metal utensils can damage the coating and increase the risk of overheating, as well! Gentle cleaning Again, to avoid scratching your nonstick pan, wash it with warm, soapy water and a soft sponge is important. Abrasive scouring pads or steel wool are a big no on Teflon-coated cookware. You can consider soaking your nonstick for a bit in case of stubborn residue, but leaving it in water for a long time can damage its coating and shorten its lifespan over time. Replace when necessary This is perhaps the most important point to note: throw away your pans if they start to peel, flake or chip and find a replacement. <div type="Article" hostid="261" msid="95388062" title="A single scratch on a Teflon nonstick pan can release thousands of microplastic particles, study suggests" mstype="2" mssubtype="0"></div>While Teflon cookware is usually deemed safe when used properly, it's also versatile and relatively cheaper than cast iron and carbon utensils. But hey, if you’re still uncertain about good old nonstick, there’s plenty of other options to explore!

5 tips to prevent ‘Teflon flu’ and use your nonstick pans safely

<ul><li>The deadline to link your PAN to your Aadhaar is March 31, 2022.</li><li>One could face certain consequences in executing financial transactions if PAN and Aadhaar are not linked.</li><li>Also a penalty of ₹1,000 is levied if failed to link PAN with Aadhaar before March 31.</li></ul>While the current financial year is about to end this week, there are a host of tax-related tasks one needs to complete to avoid any consequences. Among other things, an important one is to link your PAN with your Aadhaar card before March 31st, 2022. If you do not link your PAN to Aadhaar, it will become inoperative and one may face slew of penalties. Linking PAN-Aadhaar after March 31 will levy a fine up to ₹1,000, according to the Central Board of Direct Taxes. Besides, providing an invalid PAN will also attract fines up to ₹10,000. In case you don’t link PAN with Aadhaar, your PAN would become inoperative, which would mean that you will not be able to invest in mutual funds, stocks or open a bank account among other things. To complete the KYC process on an investment platform, one needs an active PAN. These are the easiest two ways to link your PAN to Aadhaar. <ul><li><a href="https://eportal.incometax.gov.in/iec/foservices/#/pre-login/bl-link-aadhaar">Click here </a>to quickly link your PAN to Aadhaar on the income tax portal.</li><li>Send an SMS from your registered number with Aadhaar on 567678 or 56161.</li></ul>Linking your PAN with Aadhaar will help you in quick e-verification of income tax returns. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/india-might-be-building-a-super-app-for-its-farmers-combining-weather-market-updates-advisories-and-more-in-one-app/articleshow/90509756.cms">India might be building a super app for its farmers, combining weather, market updates, advisories and more in one app</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/crypto-prices-are-on-the-rise-heres-list-of-altcoins-that-have-been-in-the-spotlight/slidelist/90495792.cms">Crypto prices are on the rise – here’s list of altcoins that have been in the spotlight</a>

Three days left to link PAN with Aadhaar to avoid any penalty or other consequences

(Eds: Adds details) New Delhi, Dec 30 () The last date for the mandatory linking of the <keyword id="134255" type="COMPANY" weightage="20" keywordseo="permanent-account-number">Permanent Account Number</keyword> (PAN) with Aadhaar has been extended till March next year, the CBDT said on Monday. The earlier deadline was Tuesday, December 31. "The due date for linking of PAN with Aadhaar as specified under sub-section 2 of section 139AA of the Income-tax Act, 1961 has been extended from December 31, 2019 to March 31, 2020," the department said on its official Twitter handle. This is the eighth time that the Central Board of Direct Taxes (CBDT) has extended the deadline for individuals to link their PAN with Aadhaar. The Supreme Court, in September last year, had declared the Centre's flagship Aadhaar scheme as constitutionally valid and held that the biometric ID would remain mandatory for the filing of I-T returns and allotment of the PAN. Section 139 AA (2) of the Income Tax Act says that every person having PAN as on July 1, 2017, and is eligible to obtain Aadhaar, must intimate his Aadhaar number to tax authorities. Aadhaar is issued by the Unique Identification Authority of India (UIDAI) to a resident of India and PAN is a 10-digit alphanumeric number allotted by the I-T department to a person, firm or entity. The CBDT, that frames policy for the tax department, said a notification numbered 107 has been issued in this context. NES CK

PAN-Aadhaar linking deadline extended for the 8th time, now till March, 2020

Mandating the linking of PAN with Aadhaar, the government has so far extended the deadline seven times. The latest deadline was September 30, which has been further extended now to December 31, 2019. Hence, all PAN card holders must now link their PAN with Aadhaar. PAN is issued by the Income Tax Department of India to persons, firms or entities and it is a 10 digit alphanumeric number. Aadhaar is issued by the Unique Identification Authority of India to all residents of the country. During September 2018, the Supreme Court declared that the Aadhaar scheme is valid constitutionally and upheld the ruling that this biometric ID will continue to be considered mandatory for filing income tax returns as well as allotment of new PAN. Benefits of Linking PAN card to Aadhar card Apart from fulfilling the government mandate, there are several benefits to linking PAN with Aadhaar. Preventing any PAN card frauds Linking PAN with Aaadhaar can help the government filter and weed out those PAN cards that are fake and used by individuals to conceal their taxable income or evade the paying of income taxes. Finding out tax evaders PAN card is an essential document to pay taxes. PAN is also a must KYC document for bank accounts. Linking Aadhaar with PAN will automatically link the person’s Aadhaar with their bank accounts. Hence the government will be in an advantageous position to track the transactions of all persons and ascertain if the taxes they pay is right or not. Curbing the circulation of black money Fake identities help conceal the illegal activities like drug trafficking. When the PAN is linked with Aadhaar, it will rule out the possibility of such illegal activities. Easy to file tax returns for taxpayers The present laws by the government mandate the linking of PAN with Aadhaar. Once it is linked, the taxpayers can file their income tax returns online in a hassle-free way rather quickly. Taxpayers are also saved from the additional job of sending acknowledgement to the IT department. ITR-V can also be verified through an OTP you receive on your mobile number registered with Aadhaar. How to link Aadhaar to PAN online? Linking Pan with Aadhaar is a very easy process. Before doing this, ensure that the details your personal details you find on PAN and Aadhaar are the same. In case the name, spelling and other details found on these cards do not match, you need to rectify them. Use the link <a href="https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html">https://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html</a> for correcting the details on your PAN card. If the date of birth in both the documents match with each other perfectly, you can also choose to link PAN and Aadhaar without correcting your name either document. To do this, generate an OTP and upload a scanned copy of your PAN card on the official website of the Income Tax Department. Steps to link PAN card with Aadhaar Card 1. Visit the site <a href="http://www.incometaxindiaefiling.gov.in/home">http://www.incometaxindiaefiling.gov.in/home</a> 2. Click on the link ‘Link Aadhaar’. 3. Fill out the application you will see on the page. 4. Once you enter the details asked, enter the captcha code. 5. Finally click on the ‘Link Aadhaar’ link.

Last date to link PAN card with Aadhaar extended for the 7th time, now to 31 December — Know the complete process

<ul><li>PAN will not operate if not linked with Aadhaar by March 31, 2020. </li><li>The government says that more than 17 crore PANs across the country remain to be linked with Aadhaar. </li><li>The present deadline for linking PAN with Aadhaar is March 31, 2020 after which PAN will operate only when linked with Aadhaar. </li><li>Here we discuss why the government mandates linking PAN with Aadhaar and why the PAN will become inactive. </li></ul>In the 2017 budget, the union government made it mandatory to link every individual’s Aadhaar with PAN. Also while issuing a verdict that upheld the constitutional validity of Aadhaar in September 2018, the Supreme Court of India said Aadhaar cannot be made mandatory for opening a bank account or to get mobile connection. However, linking Aadhaar with PAN is mandatory. The apex court also said Aadhaar is mandatory for filing Income Tax Return (ITR). Earlier deadlines to link Aadhaar and PAN The Income Tax Department has said that PAN will go inactive if not linked with Aadhaar by March 31, 2020. The deadline to link Aadhaar with PAN was extended quite a few times during last year. Earlier, the deadline to link Aadhaar with PAN was September 30, 2019. In a notification issued on September 28, 2019, the government extended this deadline to December 31, 2019. Subsequently, the deadline was further pushed to March 31, 2020. These extensions come as a relief to those who have not still linked their Aadhaar with PAN. What the CBDT says Issuing a statement connected to linking Aadhaar with PAN, the Central Board of Direct Taxes (CBDT) said, “Whether a person, who has been allotted the permanent account number as on July 1, 2017 and is required to intimate his Aadhaar number under sub-section (2) of Section 139AA, has failed to intimate the same on or before March 31, 2020, the permanent account number of such person shall become inoperative immediately after the said date for the purpose of furnishing, intimating or quoting under the Act”. Also through a notification, the CBDT has amended the Income Tax Rules and has inserted Rule 114AAA, which detailed the “manner of making permanent account number inoperative”. What are implications of PAN becoming inactive Section 133 AA (2) of the Income Tax Act states that every individual having PAN as on July 2017 and eligible to obtain Aadhaar, must intimate his Aadhaar number to the tax authorities. The notification has also mentioned that individuals, whose PANs will become inactive will be held liable for all the consequences under the IT Act for not furnishing, intimating or quoting the permanent account number. If the Aadhaar is linked with the PAN on a later date after the deadline, the PAN will turn active from the date of intimating the Aadhaar number to the department. <a href="https://www.businessinsider.in/how-to-link-aadhaar-card-with-pan/articleshow/71343299.cms">How to link Aadhaar with PAN</a> If you are already filing ITR (Income Tax Return), it is most likely that your Aadhaar is already linked with PAN. To link your Aadhaar with PAN, you can either send an SMS or do it through the e-filing website or by manually filling up a form designated for this purpose and made available at the PAN service center.

Why the government mandates linking Pan card with Aadhaar

<ul><li>To boost investment from its army of policyholders, LIC has created a policyholder quota under which those holding a policy of LIC can apply under the special quota and avail some discounts.</li><li>Policyholders, who want to bid under the reserved quota, have been asked to link their policy with PAN number.</li><li>Today, February 28, is the last day to link the PAN number with policy.</li></ul>LIC’s initial public offering (IPO), the biggest public issue in India’s history, has created a lot of buzz in the market and is expected to open in March. The insurance major’s IPO comes with a number of perks for people who own insurance policies of the company. LIC has about 29 crore policyholders and dominates with a market share of 74.6% in terms of a number of individual policies issued in FY21. The IPO is selling about 31.6 crore shares or 5% of the government's stake. LIC has created a reservation quote for policyholders and employees wherein such investors will get a discount on the issue price. However, to apply under the reserved policyholder quota, policyholders need to link their PAN with policy by February 28. Here are the steps to complete, if you have an LIC policy and willing to apply to the <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword>: Process to link your PAN details with the LIC: <ul><li>Visit LIC website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://licindia.in/Home/Online-PAN-Registration">https://licindia.in/Home/Online-PAN-Registration</a></li><li>Keep your policy number ready, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.</li><li>You may update the records for all of your LIC policies using the above link.</li><li>You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus">https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus</a>?</li><li>Alternatively, you may also contact your LIC Agent for assistance.</li></ul>All policies that have not exited LIC’s records by way of maturity, surrender or by way of death of the policyholder are eligible for policyholder reservation. To apply under the special quota the policy should have been issued on or before the date when LIC’s draft red herring prospectus (DRHP) was filed, that is February 13. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-startups-like-dunzo-swiggy-dealshare-raised-8-billion-in-january-and-february-2022/articleshow/89890583.cms">Indian startups raised around $1 billion a week in January and February</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/tinder-bumble-quack-quack-were-the-popular-dating-apps-in-india-in-feb-2022-month/slidelist/89889436.cms">Quack Quack was downloaded more than Tinder, Bumble this Valentine’s day</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/as-long-as-mukesh-ambani-is-there-to-rescue-the-market-doesnt-care-about-future-retails-financial-stress/articleshow/89886569.cms">As long as Mukesh Ambani is there to rescue, the market doesn't care about Future Retail's financial stress</a>

LIC IPO: Last day to link PAN to apply under policyholder reservation; here’s how to do it

The Finance Minister Nirmala Sitharaman has announced today (24th March) in a press conference, held via video conferencing that the deadline to link Aadhar card with the PAN card will be extended to 30th June 2020 due to Coronavirus Pandemic. The earlier deadline for the same was 31st March 2020. The deadline to file the ITR, for the financial year 2018-18, has also been extended to 30th June 2020. The interest on delayed payment has also been reduced to 9 percent from 12 percent earlier. The deadline to link Aadhar card with PAN has been extended 7-8 times already in the last 18 months and amid coronavirus scare, it has been extended again to give relief to the public at large. The coronavirus cases are on the rise in the country with more than 500 cases registerd until mid-day tuesday with 10 deaths. The pandemic has resulted in more than 300,000 cases globally with more than 16000 deaths.

Aadhar-PAN linking, ITR filing deadline extended to 30th June

<ul><li>LIC has carried out advertisements in newspapers asking policyholders to keep their PAN and demat account updated and ready before the IPO.</li><li>The government has been making constant efforts to launch the <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword>.</li><li>The IPO reportedly could garner between ₹40,000 crore to ₹1 lakh crore from the IPO, which may help in reducing the gap between government’s income and expenditure.</li></ul>India’s largest insurance company Life Insurance Corporation (LIC), on Wednesday, released advertisements in newspapers asking insurance policyholders to keep their PAN and demat account updated and ready before the initial public offering (IPO). According to several reports, the IPO is expected to launch between January to March 2022 and raise up to ₹1 lakh crore. A<a href="https://www.bloombergquint.com/business/banks-to-reach-anchor-investors-for-lic-ipo-after-paytm-delay"> Bloomberg </a>report said that the government could raise between ₹40,000 crore to ₹1 lakh crore that will help plug a widening budget gap. The government may sell 5%-10% stake in the company as part of divestment plans and even allow foreign direct investment to ensure diversified and strong demand. There is speculation that LIC might reserve 10% of the issue size for its policyholders, which means policyholders might have an edge in the IPO allotment. <a href="https://www.businesstoday.in/markets/ipo-corner/story/lic-hand-holds-its-25-cr-policyholders-in-opening-demat-accounts-ahead-of-ipo-314029-2021-12-01">Reportedly</a>, there are about 6 crore demat accounts in the country and 25 crore customers of LIC, which is why LIC is asking its customers a.k.a policyholders to open a demat account. Note that people who do not own a LIC policy can also apply for the IPO. Here are the steps to complete, if you have an LIC policy and willing to apply to the LIC IPO: Process to link your PAN details with the LIC: <ul><li>Visit LIC website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://licindia.in/Home/Online-PAN-Registration">https://licindia.in/Home/Online-PAN-Registration</a></li><li>Keep your policy number ready, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.</li><li>You may update the records for all of your LIC policies using the above link.</li><li>You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus">https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus</a>?</li><li>Alternatively, you may also contact your LIC Agent for assistance. </li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/international-flights-from-india-will-not-be-resuming-on-december-15-due-on-concerns-of-new-covid-19-variant/articleshow/88029203.cms">International flights from India will not be resuming on December 15 due on concerns of new COVID-19 variant</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/investment-platform-upstox-comes-up-with-quick-ipo-application-process-through-whatsapp/articleshow/88025420.cms">Investment platform Upstox comes up with quick IPO application process through Whatsapp</a>

Do you own an LIC policy? Here is how you can link your PAN before applying for the LIC IPO

<ul class="summary-list"><li>I make a good living as a freelance writer, but I still have debt and financial anxiety.</li><li>There are some emotional reasons behind my financial habits and I recently sought help for both.</li></ul>Last year, I made $250,000 before taxes as a self-employed writer, yet I'm still in debt. While I could justify my financial situation easily — living in an expensive city like New York makes my $250,000 pre-tax income <a target="_blank" href="https://www.businessinsider.com/making-six-figure-salary-in-new-york-feels-like-36k-2023-3">feel like about $90,000</a> after taxes — I also realized this spring that I have underlying emotional reasons that keep me stuck in negative financial patterns, and I'm ready to change them. My debt is a hangover from my childhood trust issues. It's my biggest barrier to intimacy and keeps me stuck in a <keyword id="18761161" type="General" weightage="20" keywordseo="peter-pan-like" source="Orion">Peter Pan-like</keyword> cycle of never being ready for the life I want. So, this spring, I made a big adult move: I hired my first financial planner, a couples-focused money counselor and licensed therapist named <a target="_blank" href="https://www.healthyloveandmoney.com/">Ed Coambs,</a> who writes and speaks about the connection between money and emotional intimacy. So why did a couples-focused financial planner agree to meet with me — a single, childless, 33-year-old with debt and trust issues? He said that working with me still counts as working with a couple because clearing my money shame will help me become more emotionally available to an equally stable partner. And, like all good therapy, my journey started with getting honest. <h2>What financial intimacy feels like — and why it's so scary</h2>Before we ever talked about his fees or services, <keyword id="18761159" type="General" weightage="80" keywordseo="coambs" source="Orion">Coambs</keyword> offered me two free one-hour <keyword id="10296" type="General" weightage="50" keywordseo="zoom" source="Orion">Zoom</keyword> sessions to discuss the process of working one-on-one with a financial planner. Unpracticed in sharing details about my finances with someone, I was nervous. He asked me about my financial goals and habits, along with a few questions meant to uncover my deeper financial beliefs. He inquired about the positive lessons I picked up from my family of origin, along with any limiting notions or knowledge gaps. During our conversation, I felt wary and doubtful, a reaction I'd also experienced before while dating. As someone working through abandonment and trust issues, I often scrutinize my dates, searching for reasons to reject them preemptively. But what if there was another approach — in both dating and other contexts? Rather than let my fears rule the show, I made a list of questions for Coambs and interviewed five other planners to compare my options. Unlike the child who felt abandoned, I realized I now had adult tools to advocate for myself. Coambs respected my questions, answered them thoughtfully, and emphasized that the choice ultimately lay with me. As I signed off Zoom that day, I realized I would only see progress with a financial planner if I showed up with courage and sincerity. <h2>Working with a fee-only financial planner</h2>I ended up hiring Coambs. He is a <a target="_blank" href="https://www.businessinsider.com/personal-finance/fee-only-financial-advisor">fee-only fiduciary,</a> meaning he doesn't profit from any investments he recommends, but instead charges a straightforward flat rate for our work together. (A tip for anyone <a target="_blank" href="https://www.businessinsider.com/personal-finance/why-hire-fee-only-financial-advisor-2019-6">hiring their first financial planner</a>: A fee-only structure is meant to avoid conflicts of interest.) When I hired him in July 2023, Coambs' rate was on a sliding scale based on a client's income and financial standing. It started at $5,000 a year plus 1% of the client's overall net worth. My payment, Coambs informed me, could be broken into monthly, quarterly, or annual installments. I chose the quarterly option. <h2>Thinking ahead and designing your life</h2>Though $5,000 may seem like a steep fee for someone new to financial planning, it is significantly less than the price I've already paid for trying to manage my money alone for the past two years as a sole proprietor without support. In my first two years of self-employment, I've missed out on opportunities for tax savings while paying interest on debt that I've tried repeatedly to pay off. As Coambs reminded me, now that I am capable of making $250,000 a year (or more!), I could make $1 million in revenue over the next four years. The opportunity cost of not properly planning what to do with a million dollars is steep. In four years, I don't want to still be living in my small studio apartment, paying off debt, and feeling confused about how much I owe in taxes; I want to have a healthy savings account, a growing retirement fund, and a home where I feel excited to start a family. <h2>How to forgive yourself for past — or current — financial mistakes</h2>Despite my new enthusiasm, there was one step I was dreading: After our preliminary meetings, I would have to link my accounts to Coambs' financial-planning software. I was embarrassed. He would soon see all my account balances, including my debt. I'm still paying off <a target="_blank" href="https://www.businessinsider.com/personal-finance/graduate-school-worth-student-loans-its-complicated-2019-7">five figures in student loans</a> I took out between 2015 to 2017. I also racked up some credit-card and personal-loan debt when I quit my job to freelance full time in 2021. Though I surpassed my revenue expectations in my first two years of self-employment, I also spent money on what felt like failed experiments: signing up for an expensive mastermind program that didn't actually help me, impulse purchasing logos on Fiverr, paying a website designer and copywriter for an idea before testing the proof-of-concept, hiring an assistant for two months without a plan for making back my return on investment — you get the idea. A lot of trial and error is involved with running your own business. Sensing my embarrassment, Coambs asked me to describe my feelings. I said I felt ashamed that I — a financial journalist — could have spent years reporting on money-related topics without applying that knowledge to my personal situation and becoming debt-free. He reminded me how normal it is for human beings to learn concepts intellectually before actually practicing them in their life and acknowledged my integrity for seeking support to improve my situation. He also introduced the human-capital theory to me, which is an economic theory that validates the choice to use debt to pay for experiences that help us grow. Given that much of my debt comes from education and funding my business, this shifted my perspective and helped me release some of my shame. <h2>Covering my financial-planning basics</h2>Once Coambs and I began to clear my lingering money shame, we focused on financial-planning basics. Though we're still early in our work together, we've outlined a plan with a few key focus areas: <h3>Understanding my 'financial attachment' style</h3>I have an <a target="_blank" href="https://www.insider.com/guides/health/mental-health/anxious-attachment-style">anxious attachment style</a> in personal relationships, and I'll admit my money-management style is also fraught with anxiety. According to Coambs, those with an anxious attachment style may have trouble saving money or even accrue debt because of impulsive decisions made from an underlying fear that money will "abandon" us or run out. In a traditional financial-planning session, I'd probably internalize all of my anxiety and focus only on the numbers. But in sessions with a licensed therapist and certified financial planner like Coambs, clients are encouraged to talk through their feelings. It's easier to make intentional decisions once we neutralize the doom-and-gloom scenarios living rent-free in our minds. <h3>Tax planning as a self-employed freelancer</h3>As a self-employed freelancer, one of my first priorities is going to be setting up my business in tax-incentivized ways, saving for taxes every month, and paying them in quarterly installments. <h3>Saving for retirement</h3>With the days of an employer matching my 401(k) behind me, retirement planning is also going to be one of my top financial-planning priorities in 2024. After talking with a fellow self-employed creator, I realized I was paying almost double in taxes as an individual than what I would have if I'd <a target="_blank" href="https://www.businessinsider.com/how-to-know-elect-s-corporation-status-freelancer-taxes-2022-1">filed for S-corporation status</a>, which is something I'm bringing to my work with Coambs to plan better for 2024. <h3>Diversifying revenue streams</h3>Though I don't know exactly what my future holds, I know I'd like the ability to scale back my working hours in the next few years when I'm ready to become a parent. I will need to set up some income streams that are less tied to my productivity, whether they be real estate, digital products, or investment vehicles. Coambs and I have not begun to discuss the specifics, but this is definitely on my to-do list. <h2>Becoming more financially transparent — and more emotionally available</h2>Working with a therapy-informed financial planner is good practice for letting another human being into my emotional and financial worlds. Having a financial plan is also a huge confidence boost when dating. I feel less embarrassed about my past, more sure-footed about my future, and certain of the value (financial and otherwise) I will bring to a potential partnership. And as someone <a target="_blank" href="https://www.insider.com/spouse-partner-helping-teach-me-about-budgeting-2023-9">still paying off debt</a>, I know I won't need my partner to save me. Rather, I'm looking for someone to cheer me on and be my emotional confidant as I walk the path I've created independently — and maybe, with time, that path will merge with theirs.

I make $250K a year but still have financial anxiety and debt. A financial therapist is helping me let go of my shame — and set myself up for the future.

The last date to link PAN CARD with Aadhaar is 31st December 2019. However, to the masses, it is still unclear as to what the consquences of non-compliance would be. The central board of direct taxes (CBDT) in its notification dated 28th September 2019 extended the deadline for the 7th time to the end of the year. It is mandatory to link your <keyword id="8156425" type="UNKNOWN" weightage="20" keywordseo="Aadhaar-Card-with-PAN">Aadhaar card with PAN</keyword> if you have to process the Income Tax Return. Any bank transaction above Rs. 50,000 will need you to link your Aadhaar and PAN. Linking Aadhaar card with PAN card is a simple process similar to linking PAN card with Aadhaar card. Why must you link your Aadhaar card with PAN? The Income Tax department had earlier announced that all the PAN cards that have not been linked to Aadhaar card will be deactivated after 30 September 2019. Linking Aadhaar with Pan has been mandated for all having a PAN card. If multiple PAN cards are issued in the same name, this problem can be tackled by linking Aadhaar with PAN. If your Aadhaar is not linked with PAN, your IT returns will never be processed by the Income Tax Department. When you link your Aadhaar card with PAN, you will get a summary of all the taxes levied on you for your future reference. Steps to link your Aadhaar card and PAN card online through e-filing website Step:1 Visit the Income Tax e-filing website <a href="https://www.incometaxindiaefiling.gov.in/home">https://www.incometaxindiaefiling.gov.in/home</a> Step 2: Input your PAN and Aadhaar number sin the respective columns you will see in the form displayed. Step 3: Enter your full name as it is found on your Aadhaar card Step 4: If your Aadhaar card mentions only your birth year, then tick the square Step 5: Input the captcha code you will find on the image for verifying. Step 6: Click on ‘Link Aadhaar’ option You will see a pop up message that will tell you that your Aadhaar card has been successfully linked to your PAN. Steps to link Aadhaar with Pan by sending SMS For linking your Aadhaar with PAN, follow the simple steps given here. Take your mobile phone that has the SIM with the registered mobile number Type in the message UIDPAN&lt;12 Digit Aadhaar&gt; &lt;10 Digit PAN&gt; Send this message to 567678 or 56161 This process will see to that your Aadhaar is linked with PAN. Read this if you cannot link your Aadhaar card with PAN To link your Aadhaar and PAN, it is necessary that the name on your Aadhaar card and PAN card must match with each other. If there is a mismatch of the spelling, you will not be able to link your Aadhaar with PAN. In case of spelling mismatch, you will have to PAN cards have to be mandatorily linked with Aadhaar before the deadline ends otherwise they will be deactivated by the Income Tax Department. The name of the applicant should be the same on both PAN card and the Aadhaar card. In case there is some spelling mismatch, your will be unable to link Aadhaar with PAN. You will have to get your name corrected and after correction, you can easily link your PAN with Aadhaar. Here are the steps to make corrections in your PAN card. Visit the official e-filing website of NSDL at <a href="https://goo.gl/zvt8eV">https://goo.gl/zvt8eV</a> From the drop down menu, choose the option ‘Changes or Correction in existing PAN data/Reprint of PAN Card (No changes in Existing PAN Data)’ Select the category of individual and then enter your details, make the payment and submit the form online. You will get your updated Aadhaar delivered at your address. When you receive your PAN, you can link your Aadhaar with your PAN.

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