Modified several times regarding the last date for linking PAN with Aadhaar. The central government has extended the deadline for linking PAN card with Aadhaar number till March 31, 2023, while the earlier deadline was March 31, 2022 this year. However, from April 1 this year, taxpayers who have not yet linked their PAN card with their Aadhaar number will have to pay a penalty.
This simply means that if you go to link your PAN with Aadhaar, then you will have to pay a charge. Whereas after March 31, 2023, your Aadhaar will not be linked with PAN. Let us know how much will be the charge and how you can link PAN card with Aadhaar.
how much will it charge
In a circular issued by the Central Board of Direct Taxes (CBDT), it has been said that taxpayers who link their PAN card with Aadhaar by June 30 will have to pay a charge of Rs 500. But after linking PAN with Aadhaar, a fine of Rs 1,000 will have to be paid from July 1.
The ministry had given information on March 29
Significantly, on March 29, the Union Finance Ministry had issued a statement, which said that in order to reduce the inconvenience of taxpayers, taxpayers have been asked to link Aadhaar-PAN without any effect by March 31, 2023. . The Union Finance Ministry said in a statement on March 29 that for three months from April 1, 2022, a fee of Rs 500 and thereafter Rs 1000 will have to be paid.
Link PAN Aadhaar Started
Fee of Rs.500 payable if linked up to 30/06/22, else fee payable is Rs.1000
Fees to be paid by Challan No ITNS 280 with Major head 0021 (Income Tax Other than Companies) & Minor head 500 (Fee)
Try to link after 4-5 working days from date of payment pic.twitter.com/LUPV13hlkF
— Taxation Updates ? (@TaxationUpdates) June 1, 2022
What will happen if PAN is not linked with Aadhaar?
If you do not link your PAN with your Aadhaar number, your PAN card may become inoperative. Apart from this, if PAN is not linked with Aadhaar, one cannot perform tasks like opening mutual funds, stocks, bank accounts, etc. Apart from this, 10 thousand rupees will have to be paid under section 272B of the Income Tax Act 1961 for showing an invalid PAN card.
How to link PAN with Aadhaar
First of all go to the official website of Income Tax India incometax.gov.in. Now select Link Aadhaar option under Quick Links section. Enter your PAN number details, Aadhar card details, Name and Mobile number. After that “I validate my Select the ‘Aadhaar details’ option and click on the ‘Continue’ option. On your registered mobile number, you will receive a one-time password (OTP). Your PAN and Aadhaar will be linked after paying the fine.