This work is necessary before buying a house or land, if you miss it then you will face big problems at the time of registration, know the update
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Pan-Aadhaar Card Linking: If you are planning to buy or sell a house then you may have to face problems. Actually, at the time of buying property you have to pay tax to the government. This has to be paid in the form of TDS. If this is not done, land registration is not possible.
To deposit this tax, your PAN card must be linked to Aadhar card. If this does not happen, you will have to spend more money. In other words, while purchasing property, the buyer has to pay 1% TDS to the Central Government. If Aadhaar-PAN is not linked then 20 percent tax will have to be paid instead of one percent.
A notice can also be sent by the Income Tax Department to the person purchasing property without PAN card. However, the deadline for linking PAN-Aadhaar has ended. Now for doing this you will have to pay a fine of one thousand rupees to the Income Tax Department.
The last date for linking Aadhaar card with PAN card was given by the Central Government as 30th June. After this, the PAN cards of 11.5 crore people who did not link PAN card with Aadhar card have been canceled by the government. This information has been given by the Central Board of Direct Taxes in the information sought under the Right to Information.
When Aadhaar card and PAN card are linked, the PAN card is invalidated by the Income Tax Department. In such a situation you will not be able to file income tax return. Also, TDS will not be refunded. You will not be able to invest as per SEBI instructions and your GST number will be cancelled. Because, GST number is generated from PAN card only.
Linking Aadhaar card and PAN is possible online. For this, first of all go to the e-filing website of the Income Tax Department. The option of Aadhaar PAN link has been given on the website. Click this link and enter your PAN card number and Aadhaar number. After this, OTP will come to your mobile number linked to Aadhaar.
After this a page for payment will open in front of you. Information related to payment will be available in this. Meanwhile, the Income Tax Department crosschecks your details to see whether your Aadhaar and PAN information is valid or not. After this your Aadhaar will be linked to PAN card.
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