For the convenience of the citizens, the Union Government had extended the deadline to link Aadhaar-PAN till March 31, 2023, as the earlier last date was March 31, 2022.
However, a new circular issued by the Government says, the taxpayers who have still not linked their ID are going to pay penalties. A Circular issued by the Central Board of Direct Taxes (CBDT) states that the taxpayers linking their IDs before or till June 30 will have to pay ₹500 as of late fees. Whereas double penalty charges will be levied from the taxpayers who will link their Aadhaar-PAN on or after July 1, hence ₹1,000 as a penalty.
Link Aadhaar PAN or Pay Double Penalty
An update tweeted on Wednesday by the Taxation Updates states, “Link PAN Aadhaar Started. A fee of ₹500 is payable if linked up to 30/06/22, else fee payable is ₹1,000. Fees to be paid by Challan No ITNS 280 with Major head 0021 (Income Tax Other than Companies) & Minor head 500 (Fee). Try to link after 4-5 working days from the date of payment.”
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Union Ministry of Finance also issued a statement which derives, “In order to mitigate the inconvenience to the taxpayers, as per Notification No.17/2022 dated 29th March 2022, a window of opportunity has been provided to the taxpayers up to 31st of March, 2023 to intimate their Aadhaar to the prescribed authority for Aadhaar-PAN linking without facing repercussions. As a result, taxpayers will be required to pay a fee of Rs. 500 up to three months from 1st April 2022 and a fee of Rs.1000 after that, while intimating their Aadhaar.”
Further said, “However, till 31st March 2023 the PAN of the assessees who have not intimated their Aadhaar will continue to be functional for the procedures under the Act, like furnishing of return of income, processing of refunds etc.”
The Ministry also warned that past March 31, 2023, the PAN Cards of the taxpayers will become inoperative if not linked with Aadhaar, and will face the consequences under the Income-tax Act, 1961.
