The last date for PAN Aadhar linking is approaching soon and taxpayers must avoid any further delays. As per the press release of the Ministry of Finance as on March 28th, 2023, the last date was extended to June 30, 2023.
In order to provide some more time to the taxpayers, the date for linking PAN & Aadhaar has been extended to 30th June, 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing repercussions.
March 28, 2023
(1/2) pic.twitter.com/EE9VEamJKhHere Is What Will Happen After June 30, if you fail to link Aadhaar With PAN card
As per the release, from July 1, 2023 taxpayers who failed to link their PAN with Aadhaar will turn inoperative and have to go through consequences. A few are mentioned here:
No refund shall be made against such PANs;
Interest shall not be payable on such refund for the period during which PAN remains inoperative;
TDS and TCS shall be deducted /collected at a higher rate, as provided in the Act.
Taxpayers will have to pay a penalty of Rs 1,000 to make the PAN operative within 30 days.
NRIs, individuals residing in specific states, a citizen who is no longer Indian citizen or above the age of eighty years (in the last two years) are exempted from PAN-Aadhaar linking and eventually from penalties.
How Do I Link PAN With Aadhaar?
Follow these steps to link PAN with Aadhaar:
Step 1: Search for the official website of the Income Tax Department and click on the PAN-Aadhaar link available
Step 2: Create or log in to the account
Step 3: Enter details such as ID, password, and date of birth
(PAN can provide access to login and act as user ID)
You will see a pop-up notifying for the Aadhaar-PAN link
(In case, you do not see the pop-up, visit the left-hand section of the website)
Step 4: Enter all the required details
Step 5: Confirm details and enter Captcha
Once this is done, you will receive a notification stating that your PAN is successfully linked to your Aadhaar Card.
Apart from this, there are a few more personal finance deadlines that you should not miss in June 2023.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
