PAN-Aadhaar Link: Only 6 days left to link PAN-Aadhaar, there will be many losses with fine

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PAN-Aadhaar Link: Have you linked your aadhar and pan card? If not, then get active and get this work done immediately. You only have 6 days left. The last date for linking is 30 June 2022. After that you will have to pay a hefty fine. Also, there are many other disadvantages of not linking Aadhaar and PAN.

If you link your PAN with Aadhaar on or before June 30, then you will have to pay a fine of Rs 500. On the other hand, if you get PAN-Aadhaar linked on or after July 1, then you will have to pay double i.e. 1000 rupees. The last date for linking Aadhaar and PAN card was over in March 2022 itself.

Also read- New rule of CBDT! Even if the income is less, some people will have to fill ITR, are you also not involved in this?

Fines Double

According to Section 234H of the Income Tax Act, the Central Board of Direct Taxes (CBDT) had given time for linking Aadhaar-PAN till 31 March 2022. After this a fine of Rs 500 was imposed and the last date for linking was made from April 1 to June 30, 2022. Now you will have one more chance and this time will be till 31st March 2023. However, a late fee of Rs 1000 will have to be paid for PAN-Aadhaar linking by March 31, 2023. You can link PAN and Aadhaar after paying the late fee.

Also read- Income Tax Department’s portal opened for filling ITR, July 31 is the last date, know the complete process

loss only loss

Along with the penalty, there are many disadvantages of not linking PAN-Aadhaar. Your PAN card may stop working. Apart from this, you will not be able to invest in mutual funds, stocks when the PAN card is inactive. There will also be a problem in opening a bank account. Apart from this, if you present an invalid PAN card, then you may have to pay an amount of 10 thousand rupees as penalty under section 272B of the Income Tax Act 1961. Therefore, to avoid many such losses, you should immediately link the Aadhar card with the PAN card by 30th June.

Tags: Aadhaar, Aadhaar pan linking deadline, PAN-Aadhaar linking

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