The last date to link Aadhaar with PAN is rapidly approaching, set for June 30, 2023. Individuals who have not yet linked their PAN with Aadhaar are strongly advised to take immediate action to avoid potential consequences. In a recent press release, the Income Tax department announced an extension of the deadline to provide taxpayers with more time. Until June 30, 2023, individuals can intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing any repercussions.
Simple Procedure for Registered and Unregistered Users
Both registered and unregistered users have the convenience of linking their Aadhaar and PAN on the Income Tax e-Filing portal (www.incometax.gov.in). This can be done in both pre-login and post-login modes, as stated on the official Income Tax website.
Fee Payment for Aadhaar-PAN Linkage
To complete the Aadhaar-PAN linking process, a fee of Rs 1,000 is required, effective from July 1, 2022. The fee must be paid in a single challan before submitting the Aadhaar-PAN linking request on the e-filing portal.
Step-by-Step Guide for Linking PAN-Aadhaar with Penalty
To link PAN-Aadhaar with penalty, individuals can follow the instructions provided by the Income Tax website:
- Step 1: Visit the e-Filing portal at https://www.incometax.gov.in/iec/foportal/ and log in.
- Step 2: On the dashboard, navigate to the Profile section and click on the “Link Aadhar to PAN” option.
- Step 3: Enter your PAN and Aadhaar numbers.
- Step 4: Proceed to pay through e-Pay Tax by clicking on “Continue to Pay Through e-Pay Tax.”
- Step 5: Enter your PAN, confirm PAN, and provide a mobile number to receive an OTP (One-Time Password).
- Step 6: After OTP verification, you will be redirected to the e-Pay Tax page.
- Step 7: Select the relevant assessment year (AY) as 2024-25 and choose “Other Receipts (500)” as the type of payment. Click “Continue.”
- Step 8: The applicable amount will be pre-filled against “Others.”
Once the fee payment is completed, you can link your Aadhaar number with PAN on the e-Filing Portal.
Consequences of Not Linking Aadhaar with PAN
Failing to link Aadhaar with PAN by the June 30, 2023 deadline will render your PAN inoperative. This means you will be unable to furnish, intimate, or quote your PAN, and you will be liable for all the consequences under the Act for such non-compliance. The implications include:
Non-refund of any amount of tax or part thereof due under the Act.
Non-payment of interest on refunds during the specified period.
Higher tax deduction rates under Chapter XVIIB, in accordance with section 206AA.
Higher tax collection rates at source under Chapter XVII-BB, in accordance with section 206CC.
It is crucial for individuals to promptly link their Aadhaar with PAN to avoid disruptions and the aforementioned consequences related to tax compliance. Act now to ensure a smooth and hassle-free financial journey.
