Your PAN can be inoperative from 1st April 2023
If your PAN is not linked with your Aadhaar, then this one is for you. Please read all the given instructions and take the necessary actions ASAP.
Previously, on March 29, 2022, the Income Tax Department of India published Notification No. 17/2022, advising individuals with a PAN as of July 1, 2017, to intimate their AADHAR number after paying a fee of 500 INR within the due date, which is June 30, 2022. The Income Tax Department has now extended the deadline to March 31, 2023, for linking PAN-AADHAAR with the payment of 1000 INR in place of 500 INR. It is mandatory to link PAN-AADHAAR, and if not done, it can lead to serious consequences.
Below are the damages that can be done to you if you fail to link your PAN with your AADHAAR:
If PAN is not linked by March 31, 2023, it will become inoperative from April 1, 2023. That being said, an individual with a non-operative PAN cannot file a tax return, open a bank account, or engage in any other activities requiring PAN disclosure. To revive an inoperative PAN, the Income Tax Department can impose a penalty under Section 272B, as far as 10 grands.
Not sure how to link PAN-AADHAAR? Here is the guide:
1. Visit the e-filing portal and register or login as per your case.(https://incometaxindiaefiling.gov.in/)
2. Select "Profile Settings," and you will find the option "Link Aadhaar."
3. Details will be auto-filled as per the PAN details.
4. Check the information, and if there is a mismatch between the information in these two documents, get them corrected. If there is no mismatch, proceed with the "Link now" option. You will see on the screen a message that states that Aadhaar has been successfully linked to your PAN.
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