PAN-Aadhaar Link Now Or Otherwise Pay A Double Penalty From Next Month: How To Do It

PAN-Aadhaar link: If you have an Aadhaar or PAN card and you still haven’t linked them, you must link them no later than June 30. If you log in after this date, you will have to pay a fine of Rs 1,000 as a late fine for PAN Liaison Aadhaar. The central government’s income tax department has notified an extension of the PAN-Aadhaar liaison task for citizens. You must bind PAN Aadhaar before March 31, 2023, but you must pay a fine to prevent your PAN not working. Those who link their PAN-Aadhaar before June 30 will also have to pay a fine for doing this compulsory work.

What is PAN-Aadhaar Linking Late Fine After June 30?

Until June 30, citizens linking Aadhaar PAN will be charged a late fee of Rs 500.-section,” the Income Tax Department said in a notification earlier this year.

What is PAN-Aadhaar Linking Late Fine After June 30?

After June 30, a late fee of Rs 1,000 must be paid by those who bind their Aadhaar PAN. It should be noted that this task must be completed before March 31 of next year to prevent their PAN from being inoperative, which is crucial in several tasks such as tax declaration.

What happens if you don’t bind PAN-Aadhaar by March 31, 2023?

If you do not bind your PAN to Aadhaar after the time expires, your PAN will become inoperative and you will suffer several consequences. A person whose PAN is not linked to Aadhaar will not be able to conduct any financial transaction using this document.

It should be noted that quoting your PAN is required for many financial transactions, and therefore if it becomes inoperative, transactions cannot be completed. For example, you will not be able to open a bank account and buy or sell properties if you have an inoperative PAN. An inoperative PAN will also lead to a number of consequences such as the inability to file a tax return, pending returns and refunds not processed, tax deductions at a higher rate and many more. Providing an invalid PAN can also result in fines of Rs 10,000 as per law.

How to 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.

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Harry D. Gonzalez