Rs 1,000 fine for linking Aadhaar and PAN from today, how to pay penalty

PAN-Aadhaar Link Penalty: From July 1, Friday, ie today, the sentence for having linked PAN Aadhaar has doubled. Until June 30, the PAN-Aadhaar liaison fine was 500 rupees, but from July 1 it was increased to 1,000 rupees, as instructed by the Central Board of Direct Taxes, or CBDT. The main tax board has extended the deadline for linking PAN-Aadhaar to March 31, 2023, but those who have not yet linked will have to pay the double fine of Rs 1,000 from today.

How to pay PAN Aadhaar link fee on income tax portal?

If anyone wants to bind his PAN Aadhaar now as mentioned above, he will have to pay the penalty of Rs 1000. This can be done on the NSDL portal by paying the amount under Challan No. ITNS 280.) via electronic payment service available on the Department of Income Tax’s Tax Information Network website,” said. Sharath Chandrasekhar, Partner at DSK Legal.

Here is a step by step process to pay PAN Aadhaar late fee

Step 1: Visit the link to continue with your Aadhaar PAN link request

Step 2: Under the available options, go under Challan No. ITNS 280 to submit the PAN-Aadhaar link request

Step 3: Select the applicable tax from there

Step 4: Payment should be made under major heading 0021 (non-corporate income tax) and minor heading 500 (other revenue) in a single challan

Step 5: You can pay by net banking or by credit card. Select your preferred mode and enter the details

Step 6: Enter your PAN, address and assessment year

Step 7: Enter Captcha and make payment

It should be noted in this regard that payments made on the NSDL portal require some time to appear on the electronic income tax declaration portal. Therefore, people who want to link PAN-Aadhar should try to submit their demands within days of paying the fine, experts say.

What if PAN-Aadhaar is not linked?

Although the CBDT has extended the deadline to link PAN-Aadhaar, it is mandatory to do the job. “If a person (who is eligible to receive the Aadhaar number) fails to link their Aadhaar to the PAN by March 31, 2023, such person’s PAN may become inoperative and all consequences under the Law of 1961 income tax for not providing, suggesting or quoting the PAN will apply to such persons. Accordingly, such persons, after March 31, 2023, shall in particular not be able to engage in financial transactions requiring the disclosure of the PAN, produce filing a tax return, opening a bank account and/or investing in mutual funds. In addition, the tax administration will not process pending returns or complete the procedure regarding defective returns filed by these persons”, a said Chandrasekhar.

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Harry D. Gonzalez