ITR Filing: Yet to link PAN with Aadhaar? You might have to pay Rs 6,000 fine, here’s how
The central government had made it mandatory for all taxpayers to link their Permanent Account Number (PAN) with their Aadhaar card by June 30.
New Delhi: The central government had made it mandatory for all taxpayers to link their Permanent Account Number (PAN) with their Aadhaar card by June 30. If not, then the status of such a PAN will be considered inoperative from July 1 and would attract a fine of Rs. 1000.
One the PAN card becomes inoperative; you will not be able to use it to avail certain services where the PAN number is required. The same applies for the income tax return (ITR) filing.
The deadline to file the income tax return (ITR) is July 31, 2023. In such case you will not be able to meet the ITR deadline, as it is less than a month away, and it takes up to 30 days for a PAN to become active again if it is currently inactive after the penalty is paid.
If you are not able to meet the July 31, 2023 deadline to file your ITR, then you have to Pay 5,000 (if total income exceeds Rs 5 lakh) for filing a late ITR.
And the individual who have not linked the PAN and Aadhaar before the deadline would be charged Rs 1,000, so the total cost would come to Rs 6000, as per the Economic Times.
Follow these steps to pay fine for Aadhaar-PAN Linking:
- Visit the official website of National Securities Depository Limited (NSDL) and log in to their account.
- Click on the “Link PAN with Aadhaar” option on the homepage.
- Provide the necessary information.
- Then proceed to pay the sum under Challan No. ITNS 280 with Major head 0021 (Income Tax Other Than Companies) and Minor head 500 (Other Receipts).
Ms Kalinga