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Tuesday, September 26, 2023

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Link Aadhaar-PAN cards before March 31 or face consequences, warns Income Tax Department

The deadline for linking PAN cards with Aadhaar cards has been extended multiple times by the income tax administration in recent months, but it must now be completed by March 31, 2023. If PAN card holders do not link their Aadhaar card by this date, their PAN will become invalid, according to the income tax department. If the notification was issued between April 1, 2022, and June 30, 2022, a Rs 500 fee was required. Later, the I-T department announced that a penalty of Rs 1,000 would be levied for linking Aadhaar and PAN.

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To prevent your PAN from becoming invalid, you still have the opportunity to link your Aadhaar card and PAN card by paying a fine of Rs 1,000.

Consequences of not linking PAN with Aadhaar include an inoperative PAN card, inability to file ITR without PAN, pending returns not being cleared, failure to receive pending refunds, and higher tax liability.

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