Ads Area

PAN-Aadhaar linking can be done till March 2023 with this late fee

Central Board of Direct Taxes pushed the deadline to link the documents to March 31, 2023. However, linking the two after March 31, 2022 will attract a penalty. Last date to link Aadhaar with PAN was March 31, 2022, without the latter becoming invalid. Individuals could get their documents linked till this date without having to pay any late fee. While the deadline has been extended for a year, persons linking the two documents from April 1, 2022 will be fined.

“In order to mitigate the inconvenience to the taxpayers . . . a window of opportunity has been provided to the taxpayers upto 31st of March, 2023 to intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions,” the apex direct taxes body said in statement.

However, linking PAN with Aadhaar from April 1, 2022 will attract a fine of Rs 500 up to three months i. e. June 2022 and and a fee of Rs 1,000 after that.

With the latest extension given by the CBDT, the PAN Card of assessees who have not intimated their Aadhaar, will remain functional till March 31, 2023, for the procedures under the Act, like furnishing of return of income, processing of refunds.

However, if anyone fails to link PAN with Aadhaar till March 31, 2023, it shall become inoperative and all the consequences under the Act for not furnishing, intimating or quoting the PAN shall apply to such taxpayers. An inoperative PAN can be made functional again upon intimation of Aadhaar to the prescribed authority after payment of a prescribed fee.

Section 139 AA (2) of the Income Tax Act says that every person having PAN as on July 1, 2017, and eligible to obtain Aadhaar, must intimate his Aadhaar number to the tax authorities.


Post a Comment

* Please Don't Spam Here. All the Comments are Reviewed by Admin.

Top Post Ad

Below Post Ad

Ads Area