The deadline for Pan Aadhaar linking deadline expires on June 30, 2022. Although earlier, the deadline was March 31, 2022, but later it was extended till June 30, 2022, with a late fine of ₹500. And now if a PAN card holder fails to see his Aadhaar number with his PAN card, in that case, he will have to pay a late fine of ₹1,000 to link Pan aadhaar.
As per the newly inserted Section 234H of the Income Tax Act (through the Finance Bill in March 2021), non-linking of PAN with Aadhaar by March 31 will attract a penalty of up to ₹1,000, but such PAN cards will remain functional for another year for filing ITR, claiming refunds and other I-T procedures till March 2023 or FY2022-23.
According to the Central Board of Direct Taxes (CBDT) circular, those who link their PAN to a 12-digit UIDAI number after March 31, 2022, but before June 30, 2022, will have to pay a late fee of ₹500.
Late Fine from July 1- As per the CBDT circular, those who fail to link their PAN with the aadhaar number by the end of June will have to pay a fine of ₹1,000 for linking their PAN with the aadhaar number. After paying the late fee, you can link PAN and Aadhaar.
PAN Aadhaar Link: Penalty and Other Damages
If you do not link your PAN with your Aadhaar number, then your PAN card may become inactive but the problem of the pan card holders will not end here. If pan aadhaar is not linked, you will not be able to invest in mutual funds, stocks, bank account openings, etc. This is because it is necessary to submit a PAN card here. And also, under Section 272B of the Income Tax Act, 1961, if you show an illegal PAN card, the Assessing Officer may direct that such a person shall pay an amount of ten thousand rupees as a penalty.
How to link PAN with Aadhaar- First of all, the official website of Income Tax India www. incometax. gov. Log in on. Now select the link base option under the Quick Links section. The Uou will then be redirected to a new window. Now enter your PAN number details, Aadhaar card details, name and mobile number. With this, now select the option 'Validate my Aadhaar details' option and select the 'Continue' option. After this, on your registered mobile number, you will receive a one-time password (OTP). Fill in the blank space on the screen, then click on 'Validate'. After paying the penalty, your PAN and Aadhaar will be linked.
Indias Services activity expands at over 11-year high to 58.9 in May
Two colours of tomatoes, somewhere Rs 9, somewhere Rs 143 per kg
