PAN-Aadhaar Link New Penalty: This much penalty will have to be paid for linking PAN-Aadhaar after 30th, check details

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Aadhaar-PAN Linkage: Linking of PAN card and Aadhaar card has become mandatory and now the deadline is round the corner. After that you may have to pay fine.

Both PAN Card and Aadhaar Card are very important documents in today’s time. The Income Tax Department has made it mandatory to link PAN card with Aadhaar, whose deadline is very near. Under the Income Tax Act 1961, it has become necessary to link PAN card with Aadhaar. If you do not do this till June 30, 2023, then after that your PAN will stop working.

Its deadline has been extended several times and currently the last date is June 30. After this the expectation of moving the deadline is almost nil. In such a situation, you should link the PAN card with Aadhaar without delay, because after June 30 i.e. from July 1, you will have to pay a fine for this. If you have not done this work by the stipulated time, then you will have to pay a fine of Rs 1000 before requesting linkage on the e-filing portal.

For this, a list of those banks has already been put on the e-filing portal, from where you can get a challan made to pay the fine. You may have to face many losses if you do not link PAN with Aadhaar. The Income Tax Department has clearly said that if this is not done by the deadline, the refund of the taxpayer concerned will be withheld.

This means that if you do not link PAN and Aadhaar, you will not be able to get the income tax refund. Not only this, if you link later with a penalty, you will also be at a loss. On one hand you will pay the penalty, on the other hand you will not get interest for the period for which the PAN is inactive. Another major disadvantage of not linking PAN with Aadhaar is that you will be charged higher TCS and TDS.

(pc twitter)

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