The Income Tax Department has made it mandatory to link PAN card with Aadhaar. Now its deadline has come very close and people have only a few days’ chance for this. Although many people complain that they are not able to do so. The Income Tax Department has given the reason for the failure of the effort. Along with this, the department has also given alternative measures.
This much penalty from July 1
First of all, know that under the Income Tax Act 1961, linking PAN card with Aadhaar has become necessary. If you do not do this till June 30, 2023, then after that your PAN will stop working. Its deadline has been extended many times and now it can hardly be pushed further. If you do this after June 30 i.e. from July 1, you will have to pay a penalty of Rs 1000.
These will also be losses
Not linking PAN card with Aadhaar or delay There are many disadvantages. First of all, you have to pay penalty for delay. The Income Tax Department has made it clear that refund will be withheld if PAN is not linked with Aadhaar till the deadline. This means that if you do not link PAN and Aadhaar, you will not be able to get income tax refund. Apart from this, you will not get interest for the period for which the PAN is inoperative. Another major disadvantage of not linking PAN with Aadhaar is that you will be charged more TCS and TDS. Why the attempt to link with is failing… The Income Tax Department says that due to mismatch in demographic information like name, date of birth and gender, there may be a problem in linking PAN with Aadhaar. The Income Tax Department has told that in such a situation the taxpayer should first get the wrong information of PAN and Aadhaar corrected.
[tw]https://twitter.com/IncomeTaxIndia/status/1672478494264029191?s=20[/tw]
The last resort to link
If you have already done this i.e. corrected the mistakes of PAN and Aadhaar, but still are not able to link, So the Income Tax Department has given a solution for this too. In such cases, you can visit the dedicated centers of PAN service providers. There you can avail the biometric based authentication facility by paying a fixed fee.
