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Pan aadhar link news

anu1973b@gmail.com (164 Points)

04 July 2023

pan aadhar Link update news

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177741 Points)
Replied 04 July 2023

For individuals who have not linked their IDs, their PAN will become inoperative after June 30. The users will not be able to access services related to PAN cards. They will also not be able to fill out their Income Tax Returns (ITR) until they link their PAN with Aadhaar.

You can now link your PAN-Aadhaar by paying a late fee of Rs 1,000. After paying the late fee, the individual needs to wait 30 days to renew their PAN cards. This means that if an individual pays their late fee on July 4, then their PAN will be active again on August 3. The last date to fill out the ITR is July 31, making it difficult for taxpayers to fill out their returns in case they didn’t link their PAN and Aadhaar.

If individuals fail to fill out their ITR, there are consequences they might face. Individuals might need to pay Rs 5,000 as a late fee to fill out the ITR. Individuals might also need to pay an interest of 1% for every month of late filing under Section 234A.

If your PAN becomes inoperative, not only will you fail to fill out your ITR, but there are also other possible consequences, like:

You will not be able to issue your pending refunds.
Tax deductions will be at a higher rate.
Pending returns will not be issued.
Defective returns will not be possible due to the delay.

To link your IDs, you need to visit the official website of the Income Tax Department and choose the ‘Link-Aadhaar’ option. Enter the required details and proceed with your payment. The payment will take place through e-Pay. Confirm your PAN, selecting Proceed, and ‘other receipts’ as an option for payment. After the completion of your payment, you need to wait for 30 days for your PAN to become active.