Linking your Aadhaar to your PAN will hold the tax return process from getting cancelled and also will support in summarising the taxes associated to the Aadhaar for future reference (Image: News18 Telugu)
More than 51 crore PANs have already been linked with Aadhaar until date
Even as the federal government has prolonged the deadline of linking PAN and Aadhaar to June 30, 2023, persons are have to pay a penalty quantity to hyperlink the 2 key paperwork. The PAN-Aadhaar linking was free till March 31, 2022.
The authorities prolonged that deadline by a 12 months until March 31, 2023, however imposed a penalty quantity of Rs 1,000. The deadline has now once more been revised until June 30 and the penalty payment remains to be Rs 1,000. From July 1, 2023, the PAN of taxpayers who’ve did not intimate their Aadhaar shall change into inoperative and the implications through the interval that PAN stays inoperative might be:
1) No refund shall be made in opposition to such PANs;
2) Interest shall not be payable on such refund for the interval throughout which PAN stays inoperative; and
3) TDS and TCS shall be deducted /collected at larger fee, as supplied within the Act
“The PAN may be made operative once more in 30 days, upon intimation of Aadhaar to the prescribed authority after fee of payment of Rs 1,000,” the finance ministry has said in a statement.
Those persons who have been exempted from PAN-Aadhaar linking will not be liable to these consequences. This category includes those residing in specified States, a non-resident as per the Act, an individual who is not a citizen of India or individuals of the age of eighty years or more at any time during the previous year.
More than 51 crore PANs have already been linked with Aadhaar till date.
How To Link PAN and Aadhaar Via SMS
1. Type “UIDPAN < 12-digit Aadhaar number > < 10-digit PAN > “
2. Send this SMS to 56161 or 567678 utilizing your registered cell quantity.
Via Income Tax Department Portal
Step 1: Visit ‘https://www.incometax.gov.in/iec/foportal/‘, the e-filing portal of the I-T department.
Step 2: Click on the ‘Link Aadhaar’ choice beneath the ‘Quick Links’ part of the webpage.
Step 3: This will redirect you to a brand new web page the place the PAN quantity, Aadhaar quantity and different required particulars like your title should be entered.
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