How to Link Aadhaar with Pan Card Online Step-by-Step | Late Fine 10000

How to Link Aadhaar with Pan Card Online Step-by-Step. So it will cost double as much to link Aadhaar with PAN Card from 1st July 2022 . This was recently announce by the Central Board of Direct Taxes (CBDT).

The deadline for Aadhaar Card Link with PAN Card has extend from March 31, 2022 to March 31, 2023. However, from April 1, 2022, the citizens of the country have to pay to link PAN with Aadhaar. The decision was announced in a March 30 notification by the Central Board of Direct Taxes (CBDT).

How to Link Aadhaar with Pan Card Online Step-by-Step

It will cost Rs 500 to connect PAN Card with Aadhaar till June 30. From 1st July 2022, this push will double in one push. It will cost 1000 rupees to do the same from next month.

 

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Under the new rules, the taxpayer will have to pay a fine of Rs 500 for connecting PAN with Aadhaar from April 1 to June 30. However, if this is not done by June 30, the cost will increase. From 1st July you will have to spend 1000 rupees for PAN connection with Aadhaar. This can be done till March 31, 2023.

According to a notification issued on March 29, 2022, the taxpayers will have the opportunity to connect PAN Card with Aadhaar link till March 31, 2023, the CBDT said in a statement. However, from April 1, 2022, this work was costing 500 rupees. In the first 3 months, PAN Card can be connect to Aadhaar at Rs. 500, but from July 1, the cost has increased to Rs. 1000. Processing and refunds will be available from 31st March 2023 till the filing of income tax return using PAN card.

How to Link Aadhaar-PAN?

However, if PAN Card is not connect to Aadhaar by March 31 next year, PAN will be deactivate. Once the PAN is deactivated, you will have to pay a fine of Rs. 10,000 to reactivate that PAN.

1. Open the Income Tax Department website
2. Select the Aadhaar Link option
3. Now type your Aadhaar number and PAN
4. Now type your name
5. After that, if you select Link option, PAN will be link with your base.

This can also be done through SMS. However, this work is not going to be done for free. You will have to pay a fine of Rs 500 till June 30 to do this. The fine has been increase from July 1 to Rs 1,000.

What Happen If You Are Not Linking Pan Card With Adhaar

The last date for linking PAN Card and Aadhaar cards is March 31, 2023. If a person fails to link Pan and Aadhaar by this date, he or she may be fine.

If a person’s PAN-Aadhaar card is not link within the time limit, that person’s PAN card will be deactivate first. At present Pan Card require for opening bank accounts, investing in stock market, investing in mutual funds. Once the card is deactivate, the person will no longer be able to perform these tasks.

If a person wants to get his PAN card back, he can get it back with a fine of Rs 10,000. Anyone can link Aadhaar and PAN card even after deadline if they want. In that case they will have to pay a fine under section 234H of the Income Tax Act. The Center has not yet announced the amount of fine or fine but the maximum fine will not be more than Rs.1000.

Until last year, there were no penalties for missing the PAN-Aadhaar Card linking deadline. But after adding section 234H in the Income Tax Act, if you do not do this from now on, you may be fine.

Why it is important to link PAN-Aadhaar card

In the Union Budget 2017, for the first time, the Center introduced Section 139AA in the Income Tax Act to make Aadhaar Pan Link with Aadhaar. Since then, the center has been talking about linking PAN card with Aadhaar.

If PAN-Aadhaar is not link before expiration. Then PAN Card will cancel. Remember, PAN and Aadhaar card names also be write while filing income tax return.

Conclusion

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