PAN-Aadhaar Link: You will have to pay double penalty from next month| Roadsleeper.com

PAN-Aadhaar link: Late payment till end of June

According to a Central Board of Direct Taxes (CBDT) circular, those linking PAN with 12-digit unique UIDAI number after March 31, 2022 but before June 30, 2022 will have to pay late fee. ₹500.

PAN-Aadhaar Link: Late Payment from 1st July

According to the CBDT circular, those who fail to seed PAN with Aadhaar number by the end of June will have to pay. ₹1000 fee for getting PAN linked with Aadhaar number. PAN and Aadhaar can be linked after paying the late fee.

How to pay a late fee

Fees to be paid by Challan No. ITNS 280 with Major Head 0021 (Income Tax Other than Companies) and Major Head 500 (Fees), said the Income Tax Department of India on its official Twitter handle.

Check out the income tax department’s tweet below:

PAN Aadhaar Link: Penalty and Other Losses

If you do not link your PAN card with your Aadhaar number, your PAN card may not work. The problem of the PAN card holder does not end there as an individual cannot invest in mutual funds, shares, open a bank account etc. for which issuance of PAN card is required. Further, if a person provides a PAN card which is invalid, then under Section 272B of the Income Tax Act, 1961, the Assessing Officer may direct that such person shall pay ten thousand rupees by way of penalty. Rs.

How to link PAN with Aadhaar

1]Official website of Income Tax India www.incometax.gov.in;

2]Select the Link Aadhaar option in the Quick Links section. You will be redirected to a new window;

3]Enter your PAN number details, Aadhar card details, name and mobile number;

4]Select the option “I confirm my Aadhaar details” and select the “Continue” option.

You will receive a One Time Password (OTP) on your registered mobile number. Fill in the blanks on the screen and then click the “Check” button. After you pay the fine, your PAN and Aadhaar will be linked.