Create a link now to avoid a penalty of 1,000 rupees
PAN-Aadhaar Linkage Deadline: The central government’s income tax department has notified an extension of the PAN-Aadhaar liaison task for citizens. The Central Board of Direct Taxes, or CBDT, has extended the deadline for linking PAN-Aadhaar to March 31, 2023, but that comes at a price. Those who link their PAN-Aadhaar at this time will have to pay a fine for doing this obligatory work. “A fine of Rs 500 shall be paid” in the event that such an intimation is made within three months from the date mentioned in the sub-section”, i.e. before June 30, 2022. After this requires paying a fine of Rs 1,000 to link Aadhaar-PAN.
PAN-Aadhaar liaison: what does the government say in its ordinance?
“Any person who under the provisions of subsection (2) of Section 139AA is required to report his Aadhaar number to the prescribed authority in the prescribed form and manner, fails to do so on the date stated in the said subsection, at the time of further communication of his Aadhaar Number to the prescribed authority, shall be liable to pay, as a fee, an amount equal to, – (a) Five Hundred Rupees, in the case where such notification is made within three months from the date referred to in subsection (2) of Section 139AA; and (b) one thousand rupees, in any other case,” reads the latest CBDT order dated 30 March of this year.
This is how you can link PAN-Aadhaar
There are many ways to link PAN to Aadhaar. On the one hand, you can do it online in two ways: without logging into the income tax portal or by logging into your account. You need to enter your PAN and Aadhaar details to link them along with other required details.
Apart from these methods, you can also link your Aadhaar card to your PAN card via SMS with the new updates from the Aadhaar Unique Identification Authority of India (UIDAI) issuing authority. The linking process can be done by texting 567678 or 56161 from your registered phone number.
What happens if you miss the PAN-Aadhaar bonding deadline
The government has time and again made it clear that linking Aadhaar and PAN is a mandatory thing to do, and will help the authorities in the fight against fraud. Therefore, the Center is in no mood to change the current position and there will be consequences if you do not link PAN-Aadhaar by March 31 next year.
In the event of non-communication of the Aadhaar number on the last extended notified date, i.e. March 31, 2023, the PAN assigned to the person will be rendered inoperative in accordance with the provisions of the law, the CBDT said in its order. An inoperative PAN will lead to a number of consequences such as inability to file a tax return, pending returns and unprocessed refunds, higher rate tax deductions and many more. Thus, the PAN-Aadhaar bond is an important task.
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