Get ready to pay a penalty, if you don’t link the Aadhaar card to your PAN card by 31st march 2021
Those who did not link their Aadhaar card to the PAN card by march 31st, everyone who did not link to each other will be penalized 1000 INR by the government, as govt. has given several extensions allowing people to link the Aadhar card to a PAN card.
New Delhi: The last date for linking both the documents is 31 March. The deadline to link PAN with the Aadhaar card is fast approaching just in case you don’t roll in the hay, your PAN will become invalid. In the Finance Bill, 2021, gone by the Lok Sabha on Tuesday, the govt has introduced an amendment under which an individual is going to be susceptible to pay a late fee of up to Rs 1,000 just in case of non-linking of PAN with Aadhaar.
The Finance Bill (Lok Sabha) has inserted a replacement Section 234H to levy a fee for default in intimating the Aadhaar number. If an individual is required to intimate his Aadhaar under Section 139AA(2) and such person fails to try to do so, they’re going to be susceptible to pay a fee, as may be prescribed, not exceeding Rs 1,000 at the time of creating such intimation.
A penalty will be charged for those who did not link the Aadhaar card to PAN card by March 31st:
Remember that having an Aadhaar card isn’t only mandatory to urge a replacement PAN card, but it’s also a compulsory requirement for the filing of tax returns (ITR).
This means that if an individual fails to link PAN and Aadhaar by 31 March, they’re going to be susceptible to pay a fee of Rs 1,000. This fee shall be added to the opposite consequences the person has got to face if PAN becomes inoperative thanks to the non-maintenance of Aadhaar.
How to Link PAN-Aadhaar:
Through the e-Filing website
- Visit Income Tax Site
- Enter the PAN, Aadhaar number, and name as mentioned within the Aadhaar card
- Tick the square if only the birth year is mentioned within the Aadhaar card
- Enter the Captcha code. (Visually challenged users can request for an OTP rather than the captcha code. The OTP is going to be sent on the registered mobile number)
- Click on the ‘Link Aadhaar’ button.
Citizens can simply link their PAN-Aadhaar cards on the websites of the tax department, NSDL e-Governance Infrastructure Limited, and UTI Infrastructure Technology And Services Limited (UTIITL) by providing their PAN card number and Aadhaar number.
PAN-Aadhaar Link Via SMS:
To link PAN-Aadhaar through SMS, send an SMS to 567678 or 56161 from your registered mobile number in the format- UIDPAN. For instance, UIDPAN 123456789000 EPOPE1234E. There is no charge being levied on the SMS sender by NSDL or UTI. They have to pay the SMS charges being levied by the mobile operator company.
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How to Check PAN-Aadhaar Link Status:
- Visit www.incometaxindiaefiling.gov.in/aadhaarstatus
- Enter PAN and Aadhaar Number
- Click on ‘View Link Aadhaar Status’
- The status of the linking is displayed on a subsequent screen.
Consequences of not linking PAN and Aadhaar:
If you are doing not link your Aadhaar number together with your PAN number, your PAN will become inoperative meaning thereby that you simply won’t be ready to use it after the required date. However, the transactions wiped out the past using it’ll remain valid. Once you link both the numbers after the required deadline, your PAN should become active. In case you’ve got not yet filed your ITR, you’ll not be ready to file it after the deadline is gone.
What happens if the PAN card becomes inoperative?
As per rule 114AAA, during a case where an individual is required to furnish or intimate his PAN and therefore the PAN is inoperative, it’ll be deemed that he or she has not furnished PAN. Under various provisions of the tax Act, if an individual doesn’t furnish PAN or gives an inoperative PAN, they’ll need to pay a better TDS (tax deducted at source) or TCS (tax collected at source), and should not be ready to file a tax return and should face the results of not filing the income tax return.
If you fail to link the 2 documents by the deadline and your PAN becomes inoperative, it’ll be assumed that your PAN has not been furnished as needed by the law and a penalty of Rs 10,000 may apply as per Section 272B of the Tax Act.
For example, if you deposit or withdraw cash above Rs 50,000, a PAN card is going to be required. In case your PAN dies become inoperative you are doing not need to worry because once you link your PAN and Aadhar, the PAN becomes operative, and no penalties shall be applicable post the date of linking.
However, if you employ your PAN card as identity proof for purposes that aren’t associated with a tax like opening a checking account, applying for a driver’s license, etc., it should not attract a penalty. Complications may arise if the checking account opened employing a non-functional PAN has transactions that bring it under the purview of tax.