Aadhaar-PAN linking deadline: ‘Miss it…,’ says earnings tax division

Aadhaar-PAN linking deadline: The deadline for linking Aadhaar and PAN is close to once more. The Central Board of Direct Taxes (CBDT) had prolonged it in an effort to present taxpayers extra time. 

Deadline to hyperlink PAN-Aadhaar

As per the Income Tax rule, it’s obligatory to hyperlink PAN and Aadhaar. Individuals who haven’t linked their PAN and Aadhaar until now can accomplish that by paying a big charge of ₹1000 until June 30.

“PAN Aadhaar linking. Kind consideration PAN holders! As per Income-tax Act, 1961, it’s obligatory for all PAN holders, who don’t fall beneath the exempt class, to hyperlink their PAN with Aadhaar on or earlier than 30.06.2023. Please hyperlink your PAN & Aadhaar in the present day!,” earnings tax division tweeted.

As per earnings tax guidelines, no particular person can acquire multiple PAN. A penalty of ₹10,000 will be levied if a person has multiple PAN

Kind consideration PAN holders!

As per Income-tax Act, 1961, it’s obligatory for all PAN holders, who don’t fall beneath the exempt class, to hyperlink their PAN with Aadhaar on or earlier than 30.06.2023.

Please hyperlink your PAN & Aadhaar in the present day!#PANAadhaarLinking pic.twitter.com/hBxtSgRci8

— Income Tax India (@IncomeTaxIndia) June 13, 2023

Who must hyperlink Aadhaar and PAN?

Section 139AA of the Income Tax Act offers that each particular person who has been allotted a everlasting account quantity (PAN) as of the first day of July, 2017, and who’s eligible to acquire an Aadhaar quantity, shall intimate his Aadhaar quantity within the prescribed type and method. In different phrases, such individuals must mandatorily hyperlink their Aadhaar and PAN by 30 June 2023  with the prescribed charge cost.

What will occur for those who fail to hyperlink your together with yourAadhaar

1)Your PAN will develop into inoperative 

2)Pending tax refunds and curiosity on such refunds won’t be issued.

3)TDS shall be required to be deducted at the next charge.

4)TCS shall be required to be collected at the next charge .

Steps to hyperlink PAN-Aadhaar

-Go to https://www.incometax.gov.in/iec/foportal

-Login

-On the Dashboard, in Profile Section beneath the Link Aadhar to PAN possibility, click on Link Aadhar.

-Enter your PAN and Aadhar Number.

-Enter your PAN, and ensure your PAN and cellular quantity to obtain OTP.

-Post OTP verification, you may be redirected to the e-Pay Tax web page.

-Click on Proceed on the Income Tax Tile.

-Select AY as 2024-25 and the kind of Payment as Other Receipts (500) and click on Continue.

-The relevant quantity shall be pre-filled in opposition to Others.

Those who haven’t linked their PAN with Aadhaar ought to full the method as quickly as potential, and never wait till June 30.

Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Updated: 15 Jun 2023, 09:05 AM IST