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Tag: pan aadhaar linking deadline

  • PAN Aadhaar linking: Penalty quantity; find out how to pay to hyperlink the 2 paperwork

    PAN Aadhaar linking deadline: The earnings tax division is repeatedly reminding residents of India to hyperlink their PAN playing cards with their Aadhaar playing cards because the deadline to hyperlink the 2 paperwork is approaching quickly. In the newest tweet, the tax division has knowledgeable that whereas linking PAN with Aadhaar, a demographic mismatch could happen.

    “Kind Attention PAN holders! While linking PAN with Aadhaar, demographic mismatch could happen attributable to mismatch in:

    • Name

    • Date of Birth

    • Gender

    To additional facilitate easy linking of PAN & Aadhaar, in case of any demographic mismatch, biometric-based authentication has been offered and could be availed of at devoted facilities of PAN Service Providers (Protean & UTIITSL),” learn the newest tweet from the tax division.

     

    Kind Attention PAN holders!

    While linking PAN with Aadhaar, demographic mismatch could happen attributable to mismatch in:
    • Name
    • Date of Birth
    • Gender

    To additional facilitate easy linking of PAN & Aadhaar, in case of any demographic mismatch, biometric-based authentication has… pic.twitter.com/UQuFnjda38

    — Income Tax India (@IncomeTaxIndia) June 24, 2023

    How to pay a penalty for linking PAN with Aadhaar?

    The Income Tax Website has talked about on its web site that “CBDT has prolonged the deadline of linking Aadhaar with the PAN from thirty first March 2022 to thirty first March 2023. You can hyperlink the Aadhaar with the PAN until thirty first March 2023. You will probably be required to pay a payment of Rs. 500 until thirtieth June 2022 and a payment of ₹1000 from 1st July 2022.”

    Individuals could make a penalty for linking their PAN with theirAadhaar by following the steps listed beneath

    -Visit onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp and beneath the ‘CHALLAN NO./ITNS 280’ part, click on on ‘Proceed’.

    -Now choose the tax relevant as Corporation Tax (Companies) or Income Tax (Other than Companies).

    -Under the ‘Type of Payment’ part, click on on ‘Other Receipts’ and choose the mode of fee as internet banking or debit card.

    – Now enter your PAN, choose the evaluation 12 months as 2023-24, and enter your legitimate deal with.

    -Once accomplished, enter the captcha code and click on on ‘Proceed’.

    -Individuals can submit the PAN-Aadhaar hyperlink request on the e-Filing portal after making the payment fee on the NSDL (now Protean) portal after 4-5 working days.

    Last date to hyperlink PAN with Aadhaar

    The deadline for linking PAN and Aadhaar is 30 June 2023.

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

    1)Your PAN will turn out to be inoperative

    2)Pending tax refunds and curiosity on such refunds is not going to be issued.

    3)TDS will probably be required to be deducted at a better price.

    4)TCS will probably be required to be collected at a better price .

     

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    Updated: 24 Jun 2023, 02:20 PM IST

  • PAN-Aadhaar linking to higher EPS pension: Four money deadlines it is best to know

    Four money deadlines it is best to know: The deadline for PAN-Aadhaar linking is ending subsequent month which means whenever you fail to hyperlink your PAN card alongside together with your Aadhaar, your PAN would grow to be inoperative from subsequent month. Apart from PAN-Aadhaar linking, there are a variety of various financial duties like, higher EPS pension, free Aadhaar change, and so forth. that should be completed in June.

    Here we guidelines out the best 4 money deadlines that it is best to full in June 2023. 

    After giving a group of extensions to the Aadhaar-PAN linking deadline, the Income Tax Department set 30 June 2023 because the model new deadline for seeding the two vital paperwork.”To provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to 30th June 2023, whereby persons can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions,” the CBDT press launch on the deadline extension acknowledged.

    If a taxpayer fails to take motion by 30 June, his/her PAN will grow to be inoperative, which means you will not have the ability to file income tax returns, perform various banking suppliers, or carry out stock market transactions.

    The Employees’ Provident Fund Organisation (EPFO) has extended the date for submitting functions to go for a greater pension. This is the second time the EPFO has extended the deadline. If you want to go for a greater pension, you’ve got obtained time till 26 June 2023 to do the an identical. 

    The Unique Identification Authority of India (UIDAI) has made on-line updation of Aadhar paperwork free till June 14, 2023. Usually, it costs a cost of ₹50 to switch the Aadhaar particulars. However, till 14 June, updating demographic particulars on-line by the use of UIDAI’s official site shall be free of worth.

    It is critical to note that this service is free solely on the myAadhaar portal and may proceed to attract a cost of ₹50 at bodily Aadhaar centres, UIDAI had clarified.

    The Reserve Bank of India (RBI) extended the deadline for banks to finish the phased renewal of locker agreements by December 31, 2023. The central monetary establishment directed banks to tell all shoppers of the requirements by 30 April and assure 50% and 75% of present shoppers execute the revised settlement by 30 June and 30 September, respectively. The State Bank of India (SBI) is urging shoppers to sign the revised paperwork. “Dear Customer, Please go to your division for the execution of the revised locker settlement. In case you’ve got obtained already signed the revised Agreement earlier, you proceed to must execute the Supplementary Agreement,” be taught the message despatched by SBI.

     

     

     

     

     

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    Updated: 29 May 2023, 01:48 PM IST

  • Advance tax, PAN-Aadhaar linking: Important dates to lookout for in March

    There are numerous monetary deadlines that one must know earlier than it ends on March 31, which ranges from PAN-Aadhaar linking, to cost of advance tax. The lacking of those deadlines can result in cost of penalties and different penalties.

    Here’s a listing of issues that one must look out for:

    PAN-Aadhaar linking

    The Income Tax Department has made it necessary for PAN holders to hyperlink it with Aadhaar by the tip of March this yr or will probably be rendered ‘inoperative.’

    Individuals can be restricted from submitting the income-tax return or accessing PAN-related companies failing to hyperlink Aadhaar and PAN card by 31 March, 2023.

    “After 31st March 2023, the PAN of taxpayers who fail to intimate their Aadhaar, as required, shall become inoperative and all the consequences under the Act for not furnishing, intimating or quoting the PAN shall apply to such taxpayers,” the Central Board of Direct Taxes (CBDT) mentioned in a notification on March 30, 2022.

    A late price of ₹1,000 can be relevant to hyperlink PAN and Aadhaar.

    Advance tax cost

    The final date to pay last installment of advance tax cost for Financial yr 2022 – 2023 is fifteenth March, 2023, based on the Income Tax division. On this date 100 per cent of advance tax legal responsibility must be paid by taxpayers.

    As per part 208 of the Income Tax Act, each particular person whose estimated tax legal responsibility for the yr is Rs. 10,000 or extra, shall pay his tax prematurely, within the type of “advance tax”. 

    However, a resident senior citizen (i.e., a person of the age of 60 years or above in the course of the related monetary yr) not having any revenue from enterprise or occupation shouldn’t be liable to pay advance tax.

    Advance tax is tax payable by people who’ve sources of revenue apart from their wage. This is relevant to lease, capital positive factors from shares, mounted deposits, lottery winnings, and so on.

    File up to date ITR for FY19-20

    The deadline to file up to date revenue tax return (ITR) for FY 2019-20 is March 31, 2023. 

    Taxpayers who missed submitting it for FY19-20 or have missed reporting any revenue can file an up to date ITR or ITR-U. The Finance Act of 2022 launched the idea of up to date returns to permit an extended length for an assessee to file the return of revenue.

    Updated return could be filed inside 24 months from the tip of the related evaluation yr, topic to sure situations.

    Investing in Pradhan Mantri Vaya Vandana Yojana

    Pradhan Mantri Vaya Vandana Yojana (PMVVY), launched in 2019, offers an everyday revenue to senior residents. The final date to spend money on it’s 31 march, 2023.

    Anyone above the age of 60 years can take part within the scheme, and there’s no most entry age, with a tenure of 10 years from the date of difficulty.

    Presently, the scheme gives an rate of interest of seven.4 per cent every year. The rate of interest stays the identical for the whole tenure of 10 years. Senior citizen can make investments a most quantity of ₹15 lakh in PMVVY.

    Tax saving funding

    The deadline for tax-saving investments for FY2022-23 will finish on March 31, 2023. This is vital for ones who go for the previous tax regime for the monetary yr 2022-23. Taxpayers can declare numerous deductions for his or her investments below the previous tax regime.

    If you fall into taxable revenue class and haven’t but achieved any tax saving for the quickly to be FY 2022-23. One of fashionable deductions is part 80 which permits a taxpayer to say a deduction of as much as ₹1.5 lakh from numerous investments together with premiums paid for all times insurance coverage insurance policies, PPF, and ELSS amongst others. The different one is 80D, which is premiums paid for medical health insurance insurance policies. An extra deduction of ₹50,000 for investing within the National Pension System (NPS).

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  • State Bank of India (SBI) prospects want to do that by month-end or else…

    The nation’s high lender State Bank of India (SBI) has issued a discover to its account holders. The financial institution has intimated the shoppers to hyperlink their PAN with their Aadhaar card by month-end. The Bank has additional stated that in the event that they fail to take action, they’ll face problem having fun with a seamless banking service.

    “We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service,” SBI tweeted.

    The lender stated that PANs not seeded with Aadhaar by the deadline will likely be thought-about as invalid.

    The tweet has additional acknowledged that the linking of PAN with the Aadhaar is necessary. If PAN and Aadhaar will not be linked, then PAN will likely be rendered inactive and can’t be quoted for conducting specified transactions. 

    The National Stock Exchange (NSE) has additionally requested its buying and selling members to finish the Aadhar-PAN linking job by month-end. The inventory change stated that PANs not seeded with Aadhaar by the deadline will likely be thought-about invalid for the aim of buying and selling within the inventory market.

    The authorities has made a number of extensions to the deadline to facilitate the linking of the 2 id numbers. And, now the final date to hyperlink these paperwork is September 30. After the deadline ends, all of the PAN playing cards which aren’t linked to Aadhaar would develop into inoperative.

    PAN is necessary for a bunch of economic transactions together with the opening of financial institution accounts, money deposits in financial institution accounts, the opening of Demat accounts, transactions of immovable properties and dealing in securities. Aadhaar is biometric-based and can’t be obtained primarily based on some other identification doc, linking the 2 is taken into account essential for tax administration.

    How to hyperlink PAN with Aadhaar card:

    Go to the revenue tax division’s e-filing web site.

    Click on the Link Aadhaar part.

    Now fill in your PAN quantity, Aadhaar quantity and title.

    Click on the ‘Link Aadhaar’ possibility and your PAN Aadhaar Linking will get full.

    The revenue tax division will validate your title, date of delivery and gender in opposition to Aadhaar particulars after which the linking will likely be carried out.

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  • SBI prospects want to do that to avail seamless banking service

    The State Bank of India (SBI) has issued a discover to its prospects. The financial institution has intimated the account holders to hyperlink their PAN-Aadhaar card by September 30. The Bank has additional mentioned that in the event that they fail to take action, they may face issue having fun with a seamless banking service.

    “We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service,” SBI mentioned on its official web site.

    The discover has additional said that the linking of PAN with the Aadhaar is necessary. If PAN and Aadhaar are usually not linked, then PAN will probably be rendered inactive and can’t be quoted for conducting specified transactions. The final date for linking PAN with Aadhaar is September 30, 2021.

    PAN-Aadhaar linking deadline

    Last month, the Union authorities prolonged the deadline to hyperlink PAN with Aadhaar to September 30 in view of the coronavirus pandemic. The deadline was earlier set as March 31 however was later revised to June 30.

    How to hyperlink PAN-Aadhaar card?

    The two paperwork may be linked both through SMS or on the web site of the Income Tax division.

    For linking through SMS, sort UIDPAN<house><12-digit Aadhaar quantity><house><10-digit PAN> and ship it to 567678 or 56161. Once the message is distributed to both of the 2 numbers, PAN will probably be linked to the Aadhaar card.

    For linking by means of the web site, go to incometaxindiaefiling.gov.in and click on on “Link Aadhaar” underneath the “Our Services” tab. Next, enter particulars like PAN, Aadhaar quantity, identify as per Aadhaar and cellular quantity and click on on “Link Aadhaar”. The two paperwork will then be linked.

    PAN is necessary for a bunch of economic transactions together with the opening of financial institution accounts, money deposits in financial institution accounts, the opening of Demat accounts, transactions of immovable properties and dealing in securities. Aadhaar is biometric-based and can’t be obtained primarily based on some other identification doc, linking the 2 is taken into account essential for tax administration.

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  • 30 June deadline: SBI clients should do that to maintain their PAN operative

    State Bank of India (SBI) has requested its clients to hyperlink their PAN with Aadhaar in an effort to keep away from any inconvenience in future. “We advise our customers to link their PAN with Aadhaar to avoid any inconvenience and continue enjoying a seamless banking service,” SBI knowledgeable its clients.

    The tweet has additional said that the linking of PAN with the Aadhaar is obligatory. If PAN and Aadhaar are usually not linked, then PAN can be rendered inactive and can’t be quoted for conducting specified transactions. The final date for linking PAN with Aadhaar is June 30, 2021.

    “Keeping in view the difficulties confronted by the taxpayers, the central authorities had issued a notification extending the final date for the intimation of Aadhaar quantity and linking thereof with PAN to 30 June 2021,” the ministry had mentioned.

    The authorities has made a number of extensions to the deadline since July 2017 to facilitate the linking of the 2 id numbers.

    PAN is obligatory for a bunch of monetary transactions together with the opening of financial institution accounts, money deposits in financial institution accounts, the opening of Demat accounts, transaction of immovable properties and dealing in securities. Aadhaar is biometric-based and can’t be obtained based mostly on every other identification doc, linking the 2 is taken into account essential for tax administration.

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  • Get able to pay late price in the event you don’t hyperlink Aadhaar and PAN by 31 March

    NEW DELHI: The final date for linking of Aadhaar and PAN (everlasting account quantity) is 31 March. In case you don’t do it, your PAN will develop into invalid.

    In the Finance Bill, 2021, handed by the Lok Sabha on Tuesday, the federal government has launched an modification below which an individual will likely be liable to pay a late price of as much as Rs1,000 in case of non-linking of PAN with Aadhaar.

    Also Read | Field report: A groundswell of anti-incumbency in Mamata’s Bengal

    “The Finance Bill (Lok Sabha) has inserted a brand new Section 234H to levy a price for default in intimating the Aadhaar quantity. If an individual is required to intimate his Aadhaar below Section 139AA(2) and such individual fails to take action, he shall be liable to pay a price, as could also be prescribed, not exceeding ₹1,000 on the time of constructing such intimation,” stated Tarun Kumar a Delhi based mostly chartered accountant.

    “Therefore, if an individual fails to hyperlink PAN and Aadhaar by 31 March, he shall be liable to pay a price of ₹1,000. This price shall be along with the opposite penalties the individual has to face if PAN turns into inoperative as a consequence of non-maintenance of Aadhaar,” he added.

    “The government has in the past given several extensions to allow people to link Aadhaar and PAN, it appears now they want to penalise those who don’t do it within due date by levying a late fee,” stated Shailesh Kumar, associate, Nangia & Co. LLP, a tax agency.

    As per Section 139AA, it’s obligatory for each individual to cite the Aadhaar quantity of their earnings tax return and the applying for the allotment of PAN, supplied they’re eligible for Aadhaar.

    Apart from this each one who has been allotted PAN as on 1 July, 2017 and who’s eligible to acquire Aadhaar quantity is required to hyperlink his PAN to Aadhar. In case an individual fails to take action, his or her PAN card will develop into inoperative after 31 March, 2021.

    As per rule 114AAA, in case the place an individual is required to furnish or intimate his PAN and the PAN is inoperative, will probably be deemed that she or he has not furnished PAN. Under varied provisions of the Income Tax Act if an individual doesn’t furnish PAN or provides an inoperative PAN she or he might should a pay a better TDS (tax deducted at supply) or TCS (tax collected at supply), and should not be capable of file earnings tax return and should face the implications of not submitting the tax return.

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  • Your PAN card will turn out to be inoperative from subsequent month if you happen to do not do that

    If your Permanent Account Number just isn’t linked to your Aadhaar card, your PAN card will flip ineffective from subsequent month. The Central authorities had prolonged the deadline to hyperlink PAN with Aadhaar a number of instances. Unless the federal government extends the deadline once more, the final date to hyperlink the paperwork is 31 March 2021. All such PAN playing cards which aren’t linked to Aadhaar could be ineffective and declared “inoperative” after the deadline ends. If your PAN just isn’t linked to your Aadhaar, then from 1 April you won’t be able to do any monetary transaction.

    An inoperative PAN card could result in a penalty

    If you fail to hyperlink the 2 paperwork by the deadline and your PAN turns into inoperative, it will likely be assumed that your PAN has not been furnished as required by the legislation and a penalty of ₹10,000 could apply as per Section 272B of the Income Tax Act.

    Why is PAN necessary?

    Having a PAN card is necessary for a number of functions like opening a checking account, shopping for mutual funds or shares and even making money transactions of over ₹50,000.

    PAN Aadhaar card linking: How to do

    To hyperlink your PAN with Aadhaar, you possibly can go to the revenue tax division’s e-filing portal.Click on the Link Aadhaar part on the left.You must fill PAN quantity, Aadhaar quantity and title.Fill within the CAPTCHA.Click on the ‘Link Aadhaar’ choice and your PAN Aadhaar Linking will get full.The I-T division will validate your title, date of beginning and gender towards Aadhaar particulars after which the linking shall be performed.How to hyperlink PAN with Aadhaar by way of SMS?

    If you might be unable to hyperlink your PAN and Aadhaar utilizing the e-filing web site of the division, then you possibly can hyperlink your PAN with the Aadhaar quantity by sending an SMS to 567678 or 56161 from the registered cellular quantity. In order to take action, you might want to sort UIDPAN and ship it.

    Here is the format: UIDPAN (12-digit Aadhaar quantity) (10-digit PAN) and ship it to 567678 or 56161.

    How to hyperlink PAN with Aadhaar manually

    If you want to hyperlink your PAN card and Aadhaar manually, you possibly can go to a service centre for PAN. You shall be required to fill in a type ‘Annexure-I’ together with supporting paperwork – a replica of the PAN card and the Aadhaar card. Unlike on-line companies, this service just isn’t freed from cost. An particular person is required to pay a prescribed payment to them.

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