PAN Card Holders Alert: IT department warned these people! PAN card holders should do this work before 31.03.2023, otherwise…
Aadhaar-PAN Link: If you are a PAN card holder and you have not yet linked it with Aadhaar, then this news is important for you. If the cardholder fails to link the Permanent Account Number (PAN) with the Aadhaar card, it will become inactive after March 2023. The Central Board of Direct Taxes (CBDT) had said this in early March. This means you have four months time. After this your PAN card will be closed and your trouble will start.
A late penalty of Rs 1000 was prescribed by the Central Board of Direct Taxes (CBDT) for linking Aadhaar with PAN after June 30. Without paying the late fee, no one will be allowed to link their PAN with their Aadhaar. PAN and Aadhaar can be linked till 31 March 2023.
Fine can be up to 10,000
If cardholders do not link, they will be able to use the PAN card only till it becomes inactive in 2023. After this, PAN card holders will not be allowed to do things like opening bank accounts, mutual funds or stock accounts. Also, if you use a locked PAN card as a document anywhere, you may have to bear the risk of additional charges for the same. You can also be fined up to Rs 10,000 under section 272B of the Income Tax Act 1961.
Income Tax India tweeted, ‘As per the Income Tax Act, 1961, the last date for linking PAN with Aadhaar is 31.3.2023 for all PAN holders who do not fall in the exempted category. If PAN is not linked with Aadhaar, PAN will become inactive. Don’t delay, link today!
‘Link Aadhaar with PAN card like this
Log on to the official website of Income Tax.
Go to the Quick Link section and click on Link Aadhaar.
A new window will appear, enter your Aadhaar details, PAN and mobile number.
Select the option of ‘I validate my Aadhaar details’.
You will receive an OTP on your registered number. Fill it and click on ‘Validate’.
After paying the fine, your PAN will be linked to your Aadhaar.
As per the Income Tax Act, 1961, the last date for linking PAN with Aadhaar is 31.3.2023 for all PAN holders who do not fall in the exempted category. If PAN is not linked with Aadhaar, PAN will become inactive.
Don’t delay, link today! pic.twitter.com/mrtqP7nqNL
— Income Tax India (@IncomeTaxIndia) November 18, 2022