The last date for linking Aadhaar with PAN has been fixed as March 31, 2023. But now you will have to pay a fine for linking PAN with Aadhar card. In a notification issued on March 29, 2022, the CBDT had said that after March 31, 2022, a penalty of Rs 500 will have to be paid for linking with Aadhar card and PAN card.
will have to pay double the fine
At the same time, in a circular issued by the CBDT, it has been said that if a citizen does not link PAN with Aadhaar card even by June 31, then he will have to pay double the fine. That is, if he does not do this work before July 1, then he will have to pay Rs 1000 as penalty instead of Rs 500 and then he can link Aadhaar card with PAN card.
How the penalty will be paid
If you have not yet linked Aadhaar with PAN, do so as soon as possible. Otherwise you will have to pay double the amount from July 1. If you want to pay penalty then you can pay under challan number ITNS 280.
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PAN card will become inactive after March 31, 2023
Significantly, taxpayers have been asked to link Aadhaar-PAN card by March 31, 2023 without any result. If you do not link your Aadhaar with PAN by this date, the PAN card will become inoperative. Meaning your PAN card will not work this time.
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What happens if it is deactivated?
Taxpayers will have to pay a fine of Rs 500 for PAN-Aadhaar linking on or before June 30 and Rs 1000 for linking their Aadhaar on or after July 1. Once your PAN is deactivated, you will not be able to do financial transactions where PAN is mandatory.