Final Reminder, Link Your PAN-Aadhaar Or Double Penalty Next Month

If your Aadhaar or PAN is still not linked then I would suggest you immediately complete the process before June 30. Otherwise, be ready for the fine of ₹1,000 or a double penalty from July 1. The income tax government has extended the deadline for the citizens to link PAN-Aadhaar. So, according to the instructions you are allowed to link PAN-Aadhaar by March 31, 2023, but have to pay the fine to prevent your PAN from being inoperative. And it doesn’t mean that if you are linking PAN-Aadhar before June 30 then you do not have to pay the penalty, it’s just that the penalty will be ₹500.

Final Reminder, Link Your PAN-Aadhaar

Late Fine For Linking PAN-Aadhar After June 30

As per the instructions from Income Tax Department, those who are linking their PAN-Aadhaar before June 30 are paying ₹500 as a fine. “A penalty of Rs 500 is to be paid “in a case where such intimation is made within three months from the date referred to in sub-section,” said the Income Tax Department in a notification earlier this year.” You should be least concerned about the fine, and more about preventing your PAN card from being declared inoperative by the Income Tax Department for not linking before next year March 31, which is a most crucial document in terms of finance-related tasks.

If PAN becomes inoperative then, “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 like not being able to file a tax return, pending returns and refunds not being processed, tax deductions at a higher rate and many others. Furnishing an invalid PAN can also attract fines of Rs 10,000 as per law.”

Also read:

Agnipath Scheme: Agniveer Registration For Air Force Begins Today

How To Link PAN-Aadhaar?

There are multiple ways to link your PAN-Aadhaar, and two ways to complete the process online “without logging in to the income tax portal or by logging into your account”. Just enter the Aadhaar and PAN details that are asked for.

Another method is to send SMS to the Aadhaar issuing authority Unique Identification Authority of India (UIDAI). Just send an SMS to 567678 or 56161 from your registered mobile number.

Find Your Daily Dose of NEWS and Insights - Follow ViralBake on WhatsApp and Telegram

Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

Related Articles

Back to top button

AdBlocker Detected

Please Disable Adblock To Proceed & Used This Website!