Fact Check: Is Centre giving Aadhaar-based loan under PM Yojana?

A message doing the rounds of social media claims that the Centre is giving Aadhaar card-based loan is provided under the PM Yojana.

"Take Aadhaar card loan under PM Yojana with 2% interest and 50% discount," reads the viral message.

Meanwhile, the government has clarified that the message is fake. "This claim is false. It may be an attempt to cheat. Do not share such fake messages," tweeted Press Information Bureau's (PIB) fact checking arm 'PIB Fact Check'.

PAN to become inoperative after March 2023 if not linked to Aadhaar

The Income Tax Department on Wednesday said non-linking of PAN with Aadhaar by March 31 would attract penalty of up to Rs 1,000, but such PAN will remain functional for one more year till March 2023, for filing ITR, claiming refunds and other I-T procedures.

The Central Board of Direct Taxes (CBDT), which is the apex decision making body on direct taxes, has extended the deadline for linking Permanent Account Number (PAN) with Aadhaar many times and the last date now is March 31, 2022. As per a circular issued by CBDT on Wednesday, PAN, not linked to Aadhaar, would become "inoperative" after March 31, 2023. Those taxpayers who link their PAN with biometric Aadhaar by June 30, 2022, would be required to pay late fees of Rs 500. Beyond that, the penalty would rise to Rs 1,000.

In order to mitigate the inconvenience to taxpayers, as per notification dated March 29, 2022, a window of opportunity has been provided to taxpayers up to March 31, 2023, to intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions, the CBDT said, adding such intimation would have to be accompanied by late fees.

"However, till 31st March, 2023 the PAN of the assessees who have not intimated their Aadhaar, will continue to be functional for the procedures under the Act, like furnishing of return of income, processing of refunds etc," the CBDT statement said.

(With PTI inputs)